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₹988 - 988
Symbiotec Pharmalab Ltd
PharmaceuticalsIPO
₹988 - 988
We are a research and development-driven, science-based pharmaceutical and biotechnology company with capabilities across three platforms-organic chemistry, biotechnology and complex injectables. We have a global leadership position in corticosteroid and steroidal-hormone active pharmaceutical ingredients ("APIs") in volume terms in Fiscal 2025, with a global volume market share of 36.2% in corticosteroid and 44.2% in steroidalhormone APIs. We have leveraged our capabilities to operate as a contract development and manufacturing organisation ("CDMO") for specialty pharmaceutical and nutraceutical companies.
Lot15Min Invest₹14,820Face Value₹2Issue Size₹1,757 CrFresh Issue₹150 CrOffer for Sale₹1,607 CrListing Price₹978CMP₹1,078
Timeline
24 Aug
Bidding opens
27 Aug
Bidding closes
28 Aug
Allotment
28-31 Aug
Refund & demat credit
1 Sept
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹1,757 Cr1.78 Cr shares
Fresh Issue₹150 Cr
Offer for Sale₹1,607 Cr
Face Value₹2
Lot Size15 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8201-13 lots
sNII₹2,07,480from 14 lots
bNII₹10,07,760from 68 lots
Managers & Registrar
Lead ManagerJM Financial Limited
Co-ManagerAvendus Capital Private Limited, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory & Securities (I) Pvt Ltd
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrSatwani Holdings LLPPRMTR14,57,489144.00Rosewood InvestmentsPRMTR1,00,00,000988.00India Business Excellence Fund - IIIPRMTR48,07,692475.00Total1,62,65,1811,607.00
Shareholding
CategoryPre IPOPost IPOPromoter Group36.4%33.27%Public63.6%66.73%
Objects of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by its Company
- General Corporate Purpose
Anchor Book
Bid Date21-Aug-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 682 | 567 | 716 | 752 | 869 |
| Operating ProfitCr | 130 | 69 | 171 | 202 | 238 |
| OPM% | 19.1 | 12.2 | 23.9 | 26.9 | 27.4 |
| PBTCr | 105 | 39 | 132 | 147 | 153 |
| PATCr | 77 | 25 | 101 | 97 | 110 |
| EPS | 71 | 21 | 91 | 89 | 19 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 11 | 11 | 11 | 11 | 13 |
| ReservesCr | 588 | 611 | 704 | 804 | 1,137 |
| BorrowingsCr | 65 | 218 | 247 | 541 | 391 |
| Total AssetsCr | 815 | 990 | 1,295 | 1,580 | 1,781 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 18 | 69 | 188 | 47 | 175 |
| Investing Cash FlowCr | -32 | -220 | -206 | -307 | -227 |
| Financing Cash FlowCr | 15 | 146 | 22 | 278 | 36 |
| Net Cash FlowCr | 1 | -5 | 3 | 19 | -16 |
Strengths & Risks
Strengths · as stated in the DRHP
- Global leadership in corticosteroid and steroidal hormone APIs.
- Long-standing relationships with domestic and global customer base.
- Fully-invested, multi-scale, vertically integrated manufacturing platform with sustainable practices and clean regulatory track record.
- Continuous investment in R&D, with leading technological capabilities among Indian peers.
- Ability to leverage science and existing competencies to increase total addressable market and deepen intellectual property-driven offerings.
Strategies · as stated in the DRHP
- Build on our global leadership by expanding our product portfolio across steroidal-hormones in our own API and ingredients business.
- Build on fermentation capabilities and expand biotechnology offerings such as GLP-1 and Insulin.
- Commercialize complex injectables through differentiated drug device combinations.
- Scale up our diverse CDMO offerings based on our three interlinked differentiated platform technologies.
- Continue to invest in new technologies, R&D for optimising products, building on historical innovation ethos.
- Partner with large companies for difficult-to-execute projects.
Risks · as stated in the DRHP
- The company derives almost all of its revenue from the sale of APIs, which collectively constituted 96.07%, 99.10% and 100.00% of the company's revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Further, its top five APIs constituted 62.27%, 63.16% and 60.37% of the company's revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any reduction in demand for APIs, and its top products in particular, or disruption in production, could have an adverse effect on the company's business, results of operations, financial condition and cash flows.
- The company's manufacturing facilities is subject to periodic inspections and audits by regulatory authorities and its customers. Any manufacturing or quality control failures may subject it to regulatory action, damage the company's reputation and have an adverse effect on its business, results of operations, financial condition and cash flows.
- The company exports its products to various countries and the company's revenue from external customers outside India as per Ind AS 108 - "Operating Segments" represented 67.04%, 55.19% and 59.97% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively. The company's inability to handle risks associated with its export sales could adversely affect the company's sales to customers in foreign countries, its results of operations, financial condition and cash flows.
- In Fiscals 2026, 2025 and 2024, revenue from the United States represented 13.12%, 4.02% and 8.97% of the company's revenue from operations. The imposition of tariffs or other anti-outsourcing legislation by the United States could adversely affect its results of operations, financial condition and cash flows.
- The company derives a substantial portion of its revenue from certain key customers. Revenue generated from the company's top ten customers accounted for 57.59%, 55.90% and 61.65% of its revenue from sale of product in Fiscals 2026, 2025 and 2024, respectively. Loss of the company's relationship with any of these customers or delays or reductions in their orders could have an adverse effect on its business, results of operations, financial condition and cash flows.
- The company's manufacturing facilities and dedicated R&D centres are located in the state of Madhya Pradesh in India. Any adverse developments affecting Madhya Pradesh or its surrounding regions could adversely affect its business, results of operations, financial condition and cash flows. A slowdown, interruption or shutdown in the company's manufacturing operations could have an adverse effect on its business, results of operations, financial condition and cash flows.