Symbiotec Pharmalab IPO Listing: Shares List At A Discount On BSE

Symbiotec Pharmalab Ltd shares listed at a discount on the Bombay Stock Exchange and at par the issue price on the National Stock Exchange (NSE). The stock opened at ₹978.20 apiece on the BSE, translating into a discount of 0.99%. On the NSE, the shares opened at ₹988 apiece, at par with the issue price.

Symbiotec Pharmalab IPO And Subscription Details

Symbiotec Pharmalab’s initial public offering (IPO) opened for subscription on 24 August, with the bidding window closing on 27 August. The IPO had a fresh issue of up to ₹150 crore and an offer for sale (OFS) of shares worth ₹1,607 crore.

Symbiotec Pharmalab IPO was priced in the range of ₹938 to ₹988 per equity share. The face value was ₹2 per share. The issue received a strong response from investors, led by qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

At the close of the bidding period, the NII portion was subscribed 73.63 times, while the QIB quota was booked 172.03 times. The retail investor segment was subscribed 12.96 times. On the third day of the offer, the Symbiotec Pharmalab IPO subscription status stood at 71.26 times, according to data from the NSE.

About Symbiotec Pharmalab

Symbiotec Pharmalab, headquartered in Indore, is a research and development-focused pharmaceutical and biotechnology company. It has capabilities in organic chemistry, biotechnology and complex injectables, among others.

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