- Symbiotec Pharmalab plans to open its maiden public issue worth ₹1,757 crore (approximately $184 million) on August 24.
- The IPO will include a ₹150 crore ($15.7 million) fresh share issue and an offer for sale of shares worth up to ₹1,607 crore ($168 million) by existing shareholders.
Symbiotec Pharmalab, a Madhya Pradesh-based contract development and manufacturing organization (CDMO), plans to open its maiden public issue on August 24, with the offering valued at Rs 1,757 crore. The company is backed by Rosewood Corporation and Motilal Oswal.
The IPO will comprise a fresh issue of shares worth Rs 150 crore and an offer for sale (OFS) of up to Rs 1,607 crore by existing shareholders. Promoter Satwani Holdings LLP plans to sell shares worth Rs 144 crore.
Rosewood Investments will offer shares worth Rs 988 crore, while India Business Excellence Fund – III, backed by Motilal Oswal Private Equity, will sell shares worth Rs 475 crore. The offering will therefore primarily comprise shares being sold by existing investors.
The IPO is scheduled to open alongside Skyways Air Services’ public issue, making Symbiotec one of two mainboard IPOs opening during the week of August 24, according to the information provided.
