Symbiotec Pharmalab To Launch ₹1,757-Crore IPO On August 24
New Delhi: Pharma and biotech company Symbiotec Pharmalab Ltd is set to launch its Initial Public Offering (IPO) on August 24, seeking to raise Rs 1,757 crore through a combination of a fresh issue and an offer for sale. The price band has been fixed at Rs 938-988 per equity share, valuing the company at around Rs 6,350 crore at the higher end. The IPO will close for subscription on August 27,…
Pharma and biotech firm Symbiotec Pharmalab Ltd plans to launch an IPO worth ₹1,757 crore on August 24, with a price range of Rs 938-988 per share. The company aims to raise funds through a fresh issue and an Offer For Sale, totaling up to Rs 1,607 crore. The IPO closing date is August 27, while anchor investor bidding will occur on August 21.
Symbiotec, based in Indore, is a research-driven pharmaceutical and biotech company specializing in corticosteroid and steroidal-hormone APIs. The IPO launch follows a surge in primary market activity, with other companies like Tempsens Instruments also planning IPOs around the same period. The equity shares will be listed on both BSE and NSE on September 1, with JM Financial, Avendus Capital, Motilal Oswal, and Nomura Financial acting as book-running lead managers.
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- Symbiotec Pharmalab sets price band for Rs 1,757 crore IPO, to open on August 24 economictimes.indiatimes.com
- Symbiotec Pharmalab's ₹1,757 crore IPO to open on August 24 thehindubusinessline.com
