Symbiotec Pharmalab Raises ₹526 Cr from Anchor Investors Ahead of IPO

Symbiotec Pharmalab Ltd. secured ₹526 crore from anchor investors on Friday, days before its initial public offering (IPO) opens. The pharma and biotech firm allocated 53.26 lakh equity shares to these investors. Each share was priced at ₹988 per share, hitting the upper end of its IPO price band.

Anchor Investor Breakdown

The anchor round attracted a diverse group of participants. These included foreign portfolio investors, insurance companies, mutual fund houses, an alternative investment fund, and an NBFC.

• HDFC Mutual Fund
• ICICI Prudential Mutual Fund
• Motilal Oswal Mutual Fund
• Citigroup Global Markets Mauritius
• BNP Paribas Financial Markets
• Bajaj Life Insurance
• Tata AIA Life Insurance
• Mirae Asset
• Tata Mutual Fund
• Edelweiss Mutual Fund

IPO Details and Valuation

Symbiotec Pharmalab aims to raise a total of ₹1,757 crore through its public issue. The IPO is scheduled to launch on August 24 and will close for subscriptions on August 27.

• Total IPO target: ₹1,757 crore
• Price band: ₹938-₹988 per equity share
• Company valuation (upper limit): around ₹6,350 crore
• Fresh issue component: up to ₹150 crore
• Offer-for-sale (OFS) component: ₹1,607 crore

Proceeds from the fresh issue are earmarked for debt payment and general corporate purposes. Promoter Satwani Holdings LLP, along with investors Rosewood Investments and India Business Excellence Fund III, will offload shares as part of the OFS.

Company Profile & Listing

Indore-based Symbiotec specializes in research and development, operating across organic chemistry, biotechnology, and complex injectables. It holds a global leadership position in corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs).

Shares of Symbiotec Pharmalab are slated for listing on both the BSE and NSE. The anticipated listing date is September 1.