Symbiotec Pharmalab Moves Closer to IPO, Submits Draft Papers to SEBI

Symbiotec Pharmalab Limited has submitted draft IPO papers to SEBI to raise ₹2,180 crore through a combination of a fresh issue and an offer for sale.

The IPO structure includes a ₹150 crore fresh issue and an OFS of up to ₹2,030 crore by selling shareholders. The company does not plan to receive any proceeds from the OFS portion of the issue.

As outlined in the DRHP, the fresh issue proceeds will be utilised to reduce debt on the balance sheet and for general corporate requirements.

The company operates as an integrated pharmaceutical player with a strong focus on research and development. According to the DRHP, Symbiotec Pharmalab is the only company globally with a presence across the top 10 corticosteroid and steroidal-hormone APIs by volume.

The issue will be managed by JM Financial, Avendus Capital, Motilal Oswal Investment Advisors and Nomura India as book-running lead managers.