The pharma and biotech company plans to raise Rs 1,757 crore through its IPO, comprising a Rs 150 crore fresh issue and Rs 1,607 crore offer for sale.
Shares are proposed to list on BSE and NSE on September 1.
Highlights
- Symbiotec Pharmalab IPO will open on August 24 and close on August 27.
- The company has fixed a price band of Rs 938-988 per equity share.
- The IPO aims to raise up to Rs 1,757 crore.
- Anchor investor bidding is scheduled for August 21.
- Fresh issue proceeds will primarily be used for debt repayment and general corporate purposes.
- Symbiotec shares are proposed to list on BSE and NSE on September 1.
New Delhi, August 19: Pharma and biotechnology company Symbiotec Pharmalab Ltd is set to launch its Rs 1,757 crore Initial Public Offering (IPO) on August 24 as it looks to raise funds through a combination of fresh equity shares and an offer for sale (OFS).
The company has fixed the IPO price band at Rs 938 to Rs 988 per equity share. At the upper end of the price band, Symbiotec Pharmalab is expected to be valued at around Rs 6,350 crore.
The public issue will remain open for subscription until August 27, while bidding for anchor investors is scheduled to take place on August 21.
Fresh Issue and OFS Details
The Rs 1,757 crore IPO consists of a fresh issue of shares worth up to Rs 150 crore and an OFS aggregating up to Rs 1,607 crore. Under the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund-III will sell shares.
Symbiotec plans to use proceeds from the fresh issue primarily for repayment of debt and general corporate purposes. Funds raised through the OFS will go to the selling shareholders.
What Does Symbiotec Pharmalab Do?
Indore-based Symbiotec Pharmalab is a research and development-driven pharmaceutical and biotechnology company. Its capabilities span three major platforms — organic chemistry, biotechnology and complex injectables.
The company is also a global player in corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs).
Investor Quota and Listing Date
Of the net issue, 50 per cent has been reserved for Qualified Institutional Buyers (QIBs), while 15 per cent is allocated to Non-Institutional Investors (NIIs). Retail investors will have access to 35 per cent of the net issue.
The company’s equity shares are proposed to be listed on both the BSE and NSE on September 1.
JM Financial, Avendus Capital, Motilal Oswal and Nomura Financial are the book-running lead managers for the IPO, while MUFG Intime India Pvt Ltd is the registrar.
