Symbiotec Pharmalab secures ₹526.20cr anchor investment at ₹988 a share
Symbiotec Pharmalab just secured ₹526.20 crore from big-name anchor investors ahead of its IPO, which opens August 24 and is valued at ₹1,757 crore.
Shares were picked up at ₹988 each by major players like BNP Paribas Financial Markets - ODI and Citigroup Global Markets Mauritius Private Limited, showing strong early interest.
IPO: ₹150cr fresh issue, ₹1,607cr OFS
The IPO includes a fresh issue of ₹150 crore and an offer for sale worth ₹1,607 crore.
Shares are priced between ₹938 and ₹988, with a minimum investment of about ₹14,820 for 15 shares.
The subscription window closes August 27, allotment is expected on August 28, and listing is set for September 1 on NSE and BSE.
Funds raised will help the company pay down debt and support general business needs.
Plus, 40% was reserved for domestic mutual funds, life insurance companies and pension funds.