The ₹1,757-crore IPO was subscribed 25.06 times by 2.10 pm on the closing day, receiving bids for 32.89 crore shares as against 1.31 crore shares on offer, according to data from the National Stock Exchange (NSE).
The NII portion was subscribed 55.90 times, while the retail individual investor (RII) quota was subscribed 10.43 times. The qualified institutional buyer (QIB) portion was booked 27.64 times, while the employee portion was subscribed 12.36 times.
Symbiotec Pharmalab GMP
In the grey market, Symbiotec Pharmalab shares were commanding a premium of ₹287 as of 12:55 pm on August 27.At the upper end of the IPO price band of ₹988, the latest GMP indicates an estimated listing price of around ₹1,275, implying a potential listing gain of approximately 29% over the issue price.
However, grey market premiums are unofficial indicators and can change before listing. They do not guarantee the actual listing price or returns.
Symbiotec Pharmalab IPO details
Symbiotec Pharmalab had fixed the IPO price band at ₹933-988 per equity share. Investors could bid for a minimum of 15 shares, requiring a minimum investment of ₹14,820 at the upper end of the price band.
At the upper end of the price band, the company was looking to raise ₹1,757 crore through the IPO. The issue comprises a fresh issue of ₹150 crore and an offer for sale (OFS) of shares worth up to ₹1,607 crore by existing shareholders.
Symbiotec is expected to command a post-issue market capitalisation of around ₹6,348.5 crore at the upper end of the price band. Of the fresh issue proceeds, ₹112.5 crore will be used for partial repayment of debt, while the remaining funds will be utilised for general corporate purposes. Proceeds from the OFS will accrue to the selling shareholders.
Brokerages were positive on the issue, with SBI Securities, Master Capital Services and KC Securities recommending a Subscribe rating. SBI Securities highlighted the company’s capabilities across organic chemistry, biotechnology and complex injectables, while Master Capital Services pointed to its vertical integration and KC Securities highlighted its backward integration, regulatory credentials and diversified product portfolio.
At ₹988, the issue was valued at a FY26 P/E multiple of 54.6 times on a post-issue basis, which SBI Securities considered reasonable compared with listed peers.
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Anchor book
Ahead of the IPO opening, Symbiotec Pharmalab raised ₹526.2 crore through its anchor book.
The company allotted 53.25 lakh equity shares to 34 anchor investors at ₹988 per share. The anchor investors included Citigroup Global Markets, BNP Paribas, Singularity AMC, backed by Madhusudan Kela, Susquehanna Pacific and TIMF Holdings.
Eleven domestic mutual funds, including ICICI Prudential AMC, HDFC Mutual Fund, Motilal Oswal AMC, Mirae Asset, Tata Mutual Fund, Edelweiss, Groww Mutual Fund and ITI Mutual Fund, picked up 31.98 lakh shares through 19 schemes.
Insurance companies Tata AIA Life, Bajaj Life and Bharti AXA Life also participated in the anchor book.
Company overview
Symbiotec operates two API manufacturing facilities, with a maximum chemical synthesis capacity of 584.67 metric tonnes and fermentation capacity of 300 kilolitres.
The company claims a global volume market share of 36.2% in corticosteroid APIs and 44.2% in steroidal-hormone APIs, giving it a leadership position in these segments.
Promoters currently hold a 26.91% stake in Symbiotec. Rosewood Investments, advised by InvAscent, is the largest investor with a 37.19% stake, followed by Motilal Oswal’s India Business Excellence Fund-III with a 24.47% holding.
Symbiotec reported a profit of ₹29.9 crore on revenue of ₹203.1 crore for the quarter ended June 2025.
For FY25, the company reported a profit of ₹96.8 crore, down 3.3% from ₹100 crore in the previous financial year. Revenue increased 5% to ₹751.6 crore from ₹716.2 crore during the same period.
JM Financial, Avendus Capital, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) are the merchant bankers to the IPO.
