Symbiotec Pharmalab's ₹1,757 crore IPO to open on August 24
The IPO will close for subscription on August 27, while bidding by anchor investors will take place on August 21, according to the company's announcement on Wednesday
Symbiotec Pharmalab Ltd, a pharmaceutical and biotech firm, is scheduled to launch its Initial Public Offering (IPO) on August 24. The company aims to raise ₹1,757 crore through a fresh issue and an Offer For Sale (OFS), with a price band set at ₹938-988 per equity share. This valuation places the company's worth at approximately ₹6,350 crore at the higher end.
Subscriptions will close on August 27, while anchor investors will bid on August 21, according to the company's announcement. The IPO consists of a fresh equity issue of up to ₹150 crore and an OFS worth up to ₹1,607 crore. Promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund-III will be selling shares through the OFS.
The funds raised will be used for debt repayment and general corporate purposes. Symbiotec, based in Indore, is a research and development-focused company leveraging capabilities in organic chemistry, biotechnology, and complex injectables. Global in corticosteroid and steroidal-hormone APIs, the company will list its shares on both the BSE and NSE on September 1.
Book-running lead managers include JM Financial, Avendus Capital, Motilal Oswal, and Nomura Financial, with MUFG Intime India Pvt Ltd serving as the registrar.
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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 To Launch ₹1,757-Crore IPO On August 24 freepressjournal.in
