Symbiotec Pharmalab IPO: The initial public offering (IPO) of Symbiotec Pharmalab is set to open on Monday, August 24. This will mark the 16th mainboard issue to hit Dalal Street this month.
Twelve issues have already debuted on the exchanges, with all of them currently trading above their respective issue prices. Along with Symbiotec Pharmalab, two other issues are scheduled to open for bidding on Monday, while another two will open towards the end of the month.
Symbiotec Pharmalab IPO issue details
1. Symbiotec Pharmalab IPO date: The issue will open for subscription on Monday, August 24, and will remain open until Wednesday, August 27.
2. Symbiotec Pharmalab IPO price: The price band for the IPO has been fixed at ₹938– ₹988 per equity share.
3. Symbiotec Pharmalab IPO size: The company aims to raise ₹1,757 crore through the IPO, which comprises a fresh issue of 0.15 crore shares aggregating to ₹150 crore and an offer for sale (OFS) of 1.63 crore shares aggregating to ₹1,607 crore.
As part of the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund-III will offload shares. The proceeds from the fresh issue will be used for debt repayment and general corporate purposes.
4. Symbiotec Pharmalab IPO lot size: The IPO lot size has been fixed at 15 shares, requiring a minimum investment of ₹14,820 for retail investors.
5. Symbiotec Pharmalab IPO reservation: The IPO has reserved up to 50% of the net offer for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
6. Symbiotec Pharmalab IPO allotment date: The IPO allotment is expected to be finalised on Friday, August 28. Investors who receive an allotment will see the shares credited to their demat accounts by Monday, August 31, while refunds for unsuccessful bidders will also be initiated on the same day.
7. Symbiotec Pharmalab IPO listing: The mainboard IPO is proposed to list on both the NSE and BSE on Tuesday, September 1.
8. Symbiotec Pharmalab IPO GMP: According to market sources, the grey market premium (GMP) of the Symbiotec Pharmalab IPO stood at ₹320 on Friday, indicating that the stock could list at a premium of around 32.40% over the upper end of the issue price band of ₹988.
9. Symbiotec Pharmalab IPO book-running lead manager and registrar: JM Financial, Avendus Capital, Motilal Oswal, and Nomura Financial are the book-running lead managers to the issue, while MUFG Intime India Pvt. Ltd. is the registrar.
10. Symbiotec Pharmalab overview: Incorporated in 2002, Indore-based Symbiotec Pharmalab is a pharmaceutical and biotechnology company engaged in the development and manufacturing of active pharmaceutical ingredients (APIs), nutritional ingredients, and specialty products.
The company serves domestic and international markets across regulated and emerging regions.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
