Symbiotec Pharmalab raises ₹526 cr from anchor investors; IPO opens Aug 24
Pharma and biotech company Symbiotec Pharmalab Ltd on Friday raised Rs 526 crore from anchor investors days before the opening of its initial public offering (IPO).
Symbiotec Pharmalab Ltd's IPO saw a subscription rate of 0.70 times by the end of the first day of subscription. The ₹1,757 crore issue, priced between ₹938–988 per share, was offered in a fresh issue of ₹150 crore and an offer for sale of ₹1,607 crore. The employee reservation portion led with a subscription of 1.19 times, while Non-Institutional Investors (NII) in the sub-₹10 lakh bracket were the only open-market category to fully subscribe at 1.33 times.
Retail Individual Investors and Qualified Institutional Buyers (QIB) were the weakest segments, with subscription rates of 0.82 times and 0.35 times respectively.
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- Symbiotec Pharmalab IPO sees subscription at 0.70x by mid-afternoon thehindubusinessline.com
