Pharma and biotech company Symbiotec Pharmalab Ltd is set to launch its <a href="https://www.mid-day.com/business/business-news/article/national-stock-exchange-files-draft-papers-for-indias-largest-ipo-worth-over-rs-30000-crore-23635795" target="_blank" rel="none noopener">Initial Public Offering (IPO)</a> on August 24, seeking to raise Rs 1,757 crore through a combination of a fresh issue and an offer for sale.
The price band has been fixed at Rs 938-988 per equity share, valuing the company at around Rs 6,350 crore at the higher end.
The IPO will close for subscription on August 27, while bidding by anchor investors will take place on August 21, according to the company's announcement on Wednesday.
The issue comprises a fresh issue of equity shares worth up to Rs 150 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 1,607 crore.
As a part of the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund-III&nbsp; would be offloading shares.
Proceeds of the fresh issue will be used for debt repayment and general corporate purposes.
The Indore-based Symbiotec is a research and development-driven, pharmaceutical and biotechnology company with capabilities across three platforms-organic chemistry, biotechnology and complex injectables.
It's a global leader in corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs).
<a href="https://www.mid-day.com/business/business-news/article/indian-firms-secure-rs-19-lakh-crore-through-ipos-in-fy26-23644071" target="_blank" rel="none noopener">The IPO </a>comes amid heightened activity in India's primary market, with several companies tapping investors to raise funds through the public issue route.
Of the net issue, 50 per cent has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors.
The 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 <a href="https://www.mid-day.com/business/business-news/article/ipo-a-guide-to-understanding-how-companies-get-listed-on-the-stock-exchanges-23644953" target="_blank" rel="none noopener">book-running lead managers</a> to the issue, while MUFG Intime India Pvt Ltd is the registrar.
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The IPO comprises  a fresh issue of equity shares worth up to Rs 150 crore and an offer for sale of shares aggregating up to Rs 1,607 crore

Symbiotec Pharmalab to launch Rs 1,757-crore IPO on August 24

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The issue comprises a fresh issue of equity shares worth up to Rs 150 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 1,607 crore

Symbiotec Pharmalab to launch Rs 1,757-crore IPO on August 24; price band set at Rs 938-988 per share

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Home / Business / Business News / Article / Symbiotec Pharmalab to launch Rs 1,757-crore IPO on August 24; price band set at Rs 938-988 per share