1 week ago
Symbiotec Pharmalab IPO Opens With ₹1,757 Crore Offer
Symbiotec Pharmalab is offering some of its shares to the public.
People can apply for the IPO from August 24 through August 27.
Each share will cost between ₹938 and ₹988.
Investors must buy at least 15 shares, costing ₹14,820 at the highest price.
The company hopes to raise ₹1,757 crore.
Some of the money will help repay debt, while existing investors will sell some of their shares.
The shares are expected to be allotted on August 28 and credited on August 31.
They are planned to begin trading on the NSE and BSE on September 1.
Symbiotec Pharmalab’s IPO will be open for subscription from August 24 to August 27.
The price band is set at ₹938–₹988 per equity share, with a 15-share lot size.
The company aims to raise ₹1,757 crore through a fresh issue and an offer for sale.
Retail investors must invest at least ₹14,820, while up to 50% is reserved for qualified institutional buyers.
Shares are proposed to list on the NSE and BSE on September 1, with a reported GMP of ₹320.
- Who
- Symbiotec Pharmalab, its promoters and investors, and prospective shareholders.
- What
- Symbiotec Pharmalab is launching a ₹1,757 crore mainboard initial public offering.
- Where
- The shares are proposed to list on the NSE and BSE; the company is based in Indore.
- When
- The IPO is scheduled for August 24–27; allotment is expected on August 28, credit and refunds on August 31, and listing on September 1.
- Why
- The fresh issue proceeds will be used for debt repayment and general corporate purposes, while existing shareholders will sell shares through an offer for sale.
Key facts
- IPO price band
- ₹938–₹988 per equity share
- Issue size
- ₹1,757 crore, including a ₹150 crore fresh issue and a ₹1,607 crore offer for sale
- Subscription period
- August 24 to August 27
- Lot size
- 15 shares
- Minimum retail investment
- ₹14,820
- Reported GMP
- ₹320, indicating a potential premium of about 32.40% over the upper issue price
- Proposed listing date
- September 1 on the NSE and BSE
Sources
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