Symbiotec Pharmalab's Bold IPO Move

Symbiotec Pharmalab Ltd plans to raise Rs 2,180 crore through its IPO, comprising a fresh share issue and a significant offer for sale by promoters and investors. The pharma company aims to allocate funds for debt repayment and corporate needs, positioning itself as a leader in pharmaceutical innovations.

In a significant financial maneuver, Symbiotec Pharmalab Ltd has filed preliminary papers with capital markets regulator Sebi to launch an initial public offering (IPO) valued at Rs 2,180 crore.

This IPO amalgamates a fresh share issue worth Rs 150 crore and an offer for sale (OFS) of Rs 2,030 crore by promoters and existing investors, as detailed in their draft red herring prospectus (DRHP).

Prominent stakeholders such as Satwani Holdings LLP and investors like Rosewood Investments and India Business Excellence Fund-III plan to offload shares as part of the OFS. Together, Rosewood Investments and India Business Excellence Fund currently possess over 66 per cent of the company. Symbiotec, based in Indore, is a leader in research-driven pharma innovations, specifically in corticosteroids and steroidal-hormone APIs.

JM Financial, Motilal Oswal Investment Advisors, and Nomura Financial have been enlisted to guide the IPO process.

(With inputs from agencies.)