Symbiotec Pharmalab Gets Rs 526 Crore Anchor Backing Ahead of IPO; Citi Group, Singularity Among Investors

Symbiotec Pharmalab raises Rs 526 crore from anchor investors ahead of IPO

The anchor placement attracted mutual funds, insurers and foreign investors, setting the stage for the pharmaceutical company’s public market debut

Symbiotec Pharmalab gets Rs 526 crore anchor backing ahead of IPO; Citi Group, Singularity among investors

Symbiotec Pharmalab has raised Rs 526.20 crore from anchor investors ahead of its Rs 1,757 crore IPO opening August 24. The pharmaceutical company has set a Rs 938-988 price band, with proceeds from the fresh issue earmarked for debt repayment.

Symbiotec Pharmalab IPO: Price band, lot size, GMP, listing date and other key details

Symbiotec Pharmalab is launching its IPO on August 24, aiming to raise ₹1,757 crore at a price band of ₹938– ₹988 per share. The offering will be open until August 27, with a minimum investment of ₹14,820 for retail investors.