Symbiotec Pharmalab makes a quiet debut on the exchanges. The stock was listed flat at Rs 988 on the NSE. The stock was listed at Rs 978.20 on the BSE, which is a discount of 1% to the issue price.
The company had set the issue price at Rs 988 per equity share.
The IPO was a book-built issue of Rs 1,757 crore. The issue was a combination of 15.21 lakh fresh shares amounting to Rs 150 crore and an offer for sale of 1.63 crore shares aggregating to Rs 1,607 crore. The IPO bidding was between August 24 and 27. The allotment for the IPO was finalised on August 28.
Symbiotic Pharmalab IPO: Lot size
A retail applicant had to apply for a minimum of one lot that contained 15 shares. The minimum amount of investment required by an individual investor was Rs 14,820 at the issue price.
Also, the issue included a reservation of up to 33,407 shares for employees offered at a discount of Rs 90 to the issue price.
Symbiotec Pharmalab IPO: BRLM and registrar
JM Financial worked as the book-running lead manager of the issue, and MUFG Intime India was the registrar for the IPO.
About Symbiotec Pharmalab
Symbiotec Pharmalab is a pharmaceutical and biotechnology company engaged in the development and manufacturing of active pharmaceutical ingredients (APIs), nutritional ingredients, and speciality products. Incorporated in 2002, the company serves domestic and international markets across regulated and emerging regions.
With over 30 years of industry experience, Symbiotec Pharmalab has evolved from a lab-scale steroidal hormone API manufacturer in 1995 into an industrial-scale, backwards-integrated manufacturing platform.
The company has approvals from the United States Food and Drug Administration (US FDA), the European Union Good Manufacturing Practices (EU-GMP), the Ministry of Food and Drug Safety, Korea, and other global regulatory organisations.