Symbiotec Pharmalab IPO listing: Symbiotec Pharmalab share price listed at a discount on the BSE on Tuesday, 1 September, amid weak stock market sentiment. Symbiotec Pharmalab shares were listed at ₹978.20 on the BSE, down 1% from the issue price of ₹988. On the NSE, the stock debuted flat at ₹988.
Soon after the listing, the stock hit highs and lows of ₹1,021.95 and ₹933.80, respectively, on the BSE. On the NSE, the stock rose to ₹1,032.25 and declined to ₹934.20.
The stock’s listing failed to meet expectations, as the grey market premium (GMP) for Symbiotec Pharmalab on Tuesday morning was ₹185, suggesting the stock could list at ₹1,173, a premium of nearly 19% over the IPO price.
Meanwhile, stock market benchmarks, the Sensex and the Nifty 50, declined by up to 0.30% in morning deals.
Symbiotec Pharmalab is a pharmaceutical and biotechnology company engaged in the development and manufacturing of active pharmaceutical ingredients (APIs), nutritional ingredients, and speciality products. It serves domestic and international markets across regulated and emerging regions.
Its revenue from operations for FY24 stood at ₹716.25 crore, increasing to ₹751.55 crore in FY25, and to ₹869.15 crore in FY26.
Profit attributable to owners of the parent company was ₹100.18 crore in FY24, ₹96.78 crore in FY25 and ₹109.88 crore in FY26.
Symbiotec Pharmalab IPO details
Symbiotec Pharmalab IPO was a book-build issue, combining a fresh issue of 15.21 lakh shares to raise ₹150 crore and an offer for sale (OFS) of 1.63 crore shares, aggregating to ₹1,607 crore.
The company aimed to raise ₹150 crore through the fresh issue of shares, which it will use for loan repayment and general corporate purposes.
The IPO opened for public subscription on Monday, 24 August, and concluded on Thursday, 27 August, with an overall subscription of 75 times. Share allotment was finalised on Friday, 28 August.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
About The Author
