New IPO Alert: Symbiotec Pharmalab files DRHP to raise ₹2,180 crore via public offer

Symbiotec Pharmalab IPO: Drug maker Symbiotec Pharmalab filed a draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹2,180 crore via its initial public offering (IPO).

The initial public offering will be a mix of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of ₹2,030 crore by a promoter and existing investors, according to the preliminary papers.

Under the OFS, promoter Satwani Holdings LLP, along with investors Rosewood Investments and India Business Excellence Fund-III, will be offloading their stake.

The fresh issue proceeds will be utilised for debt repayment and corporate general purposes. "In addition, our company expects to receive the benefits of listing of equity shares on the stock exchanges including enhancing our visibility and our brand image among our existing and potential customers and creating a public market for our equity shares in India," the DRHP said.

JM Financial, Nomura Financial Advisory and Securities (India) Pvt Ltd, Motilal Oswal Investment Advisors and Avendus Capital Private Ltd are the issue's book-running lead managers, while MUFG Intime India is the registrar.

About Symbiotec Pharmalab

Indore-based Symbiotec Pharmalab is a research and development-driven pharmaceutical and biotechnology firm with capabilities across three platforms: biotechnology, organic chemistry, and complex injectables.

It is a key player in the corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs) in terns of volume in the financial year 2024-25, with a global volume market share of 44.2% in steroidal-hormone and 36.2% in corticosteroid APIs.

It has a robust product portfolio of more than 60 corticosteroid and steroidal hormone APIs that are supplied internationally, including hydrocortisones, methylprednisolones, betamethasones, progesterones, testosterones and estrogens, which are extensively used in critical care setups and across chronic therapeutic areas like respiratory, pain management, dermatology, oncology and gynaecology.

As of June 2025, the company's research and development (R&D) team comprised 138 scientists and engineers, including 96 with master's degrees and 11 with PhDs. They are engaged in new product development, technology transfer, process innovation and scale-up.