Symbiotec Pharmalab gets Rs 526 crore anchor backing ahead of IPO; Citi Group, Singularity among investors

Pharmaceutical and biotechnology company Symbiotec Pharmalab has raised Rs 526.20 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription on August 24, 2026. Through the public issue, the company seeks to raise Rs 1,757 crore.

The company said it has finalised the allocation of 53,25,909 equity shares to anchor investors at an anchor investor allocation price of Rs 988 per share, including a share premium of Rs 986 per share, aggregating to Rs 526.20 crore. Of the total anchor investor portion, 40% was reserved for domestic mutual funds, life insurance companies and pension funds. Of this, 33.33% was reserved for domestic mutual funds, while 6.67% was reserved for life insurance companies and pension funds.

Among the notable investors participating in the anchor book were BNP Paribas Financial Markets – ODI, Citigroup Global Markets Mauritius Private Limited, Baroda BNP Paribas Health and Wellness Fund, Tata AIA Life Insurance Company, Singularity Equity Fund I, ICICI Prudential Smallcap Fund, HDFC Pharma and Healthcare Fund, HDFC MNC Fund, Motilal Oswal Small Cap Fund, Mirae Asset Health Care Fund, Mirae Asset Multi Asset Allocation Fund and Edelweiss Large Cap Fund, among others.


Symbiotec Pharmalab IPO details

The Symbiotec Pharmalab IPO comprises a fresh issue of 0.15 crore shares aggregating to Rs 150 crore and an offer for sale (OFS) of up to 1.63 crore shares aggregating to Rs 1,607 crore by promoters and investors.

The IPO will open for subscription on August 24, 2026 and close on August 27, 2026.

The company has fixed the IPO price band at Rs 938-988 per share. The lot size is 15 shares, meaning investors can bid for a minimum of 15 shares and in multiples thereof.

At the upper end of the price band, the minimum investment required by a retail investor is Rs 14,820 for 15 shares.

The allotment is expected to be finalised on August 28, 2026, while the shares are proposed to be listed on both the NSE and BSE, with a tentative listing date of September 1, 2026.

The company will not receive any proceeds from the offer for sale. The proceeds from the OFS will accrue to the respective selling shareholders, after deducting their share of offer-related expenses and applicable taxes.

Proceeds from the fresh issue will be used towards prepayment and/or repayment, in full or in part, of certain outstanding borrowings availed by the company, with the balance being used for general corporate purposes.

MUFG Intime India Pvt Ltd is the registrar to the issue, while JM Financial, Avendus Capital, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) are the book-running lead managers.

ALSO READ: Warren Buffett: If past data told you the future, the Forbes 400 would comprise librarians; beware of geeks bearing formulas

About Symbiotec Pharmalab

Incorporated in 2002, 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. The company has approvals from the US Food and Drug Administration (US FDA), European Union Good Manufacturing Practices (EU-GMP), Ministry of Food and Drug Safety, Korea, and other global regulatory organisations.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)