Symbiotec Pharmalab Limited has filed draft papers with SEBI for an IPO aimed at raising ₹2,180 crore, according to its DRHP.
The IPO includes a fresh issue of equity shares worth ₹150 crore and an offer for sale of up to ₹2,030 crore by existing shareholders. The company will not receive proceeds from the OFS component.
The fresh issue proceeds are proposed to be utilised for repayment of certain borrowings and general corporate purposes, as stated in the DRHP.
The company operates in the pharmaceutical API and biotechnology space and is recognised for its strong presence in corticosteroid and steroidal-hormone APIs. The DRHP notes that Symbiotec Pharmalab is among the leading global players by volume in these segments.
