Symbiotec Pharmalab IPO: Pharma co raises ₹526 crore from anchors; ₹1,757-crore issue opens today

Symbiotec Pharmalab has secured ₹526.2 crore from anchor investors ahead of the opening of its ₹1,757-crore initial public offering (IPO) today. The public issue will remain open until August 27 and shares are expected to list on the NSE and BSE on September 1.

The Indore-based pharmaceutical contract development and manufacturing company has allocated 53.25 lakh shares to 34 anchor investors at ₹988 apiece, the upper end of its IPO price band of ₹938-988 per share, as per the exchange filing.

The anchor allocation includes global investors such as Citigroup Global Markets, BNP Paribas, Susquehanna Pacific and TIMF Holdings, along with Singularity AMC, backed by Madhusudan Kela.

Domestic mutual funds were also prominent in the anchor book. Eleven fund houses, including ICICI Prudential AMC, HDFC Mutual Fund, Motilal Oswal AMC, Mirae Asset, Tata Mutual Fund, Edelweiss, Groww Mutual Fund and ITI Mutual Fund, subscribed to 31.98 lakh shares across 19 schemes.

Tata AIA Life, Bajaj Life and Bharti AXA Life were among the insurers participating in the anchor round, together picking up 4.25 lakh shares worth ₹42 crore.

The offering comprises a fresh issue of ₹150 crore and an offer for sale of up to ₹1,607 crore.

Satwani Holdings LLP, Rosewood Investments and India Business Excellence Fund-III will sell shares through the OFS. Retail investors can bid in lots of 15 shares, while QIBs have been allocated up to 50% of the net issue. Retail investors will receive at least 35% and non-institutional investors at least 15% of the issue.

Symbiotec plans to use ₹112.50 crore from the fresh issue to repay or prepay borrowings, with the remaining amount earmarked for general corporate purposes.

Last week, private equity investors Rosewood Investments and India Business Excellence Fund-III, backed by Motilal Oswal Private Equity, sold a combined 10.4% stake in Symbiotec Pharmalab for ₹647.89 crore. The two investors offloaded 65.57 lakh shares at the upper end of the IPO price band of ₹988 apiece. The transaction was executed on August 19, according to a public announcement by the Indore-based company.

Rosewood Investments sold 27.83 lakh shares worth around ₹275 crore, while India Business Excellence Fund-III offloaded 37.74 lakh shares valued at ₹372.89 crore.

The shares were acquired by a clutch of institutional investors, including Think India Opportunities Master Fund, Dymon Asia Multi-Strategy Investment (Singapore), ValueQuest, WhiteOak Capital, Singularity Equity Fund I, Waterfield Flagship Fund I and Landmark Capital Markets.

Founded in 2002, Symbiotec manufactures APIs, nutritional ingredients and specialty products for customers in India and overseas markets. Its operations cover both regulated and emerging markets.

The company reported a 15% year-on-year increase in revenue to ₹872.26 crore in FY26, from ₹755.98 crore in FY25. Profit after tax rose to ₹109.90 crore from ₹96.79 crore, while EBITDA increased to ₹231.97 crore from ₹206.11 crore.