Symbiotec Pharmalab IPO Listed
Symbiotec Pharmalab share price made a weak debut in the Indian stock market on Tuesday, despite its initial public offering (IPO) receiving stellar demand.
Symbiotec Pharmalab shares were listed at Rs 978.20 apiece on the BSE, a discount of 1% to the issue price of Rs 988 per share.
On NSE, the stock listed flat at Rs 988 apiece.
Symbiotec Pharmalab IPO Pre Listing
The shares of Symbiotec Pharmalab are scheduled to list on the NSE and BSE on Tuesday, Sept. 1. Ahead of the debut, investors are tracking the latest grey market premium (GMP), which indicates that the stock could list at a 19% premium to its issue price.
Symbiotec Pharmalab IPO GMP Today: Expected Listing Price, Listing Gain
The issue came with an upper price band of Rs 988. Adding the latest GMP of Rs 185 to the upper price band indicates an estimated listing price of Rs 1,173. This translates to a potential listing gain of 18.72% for investors.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
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Symbiotec Pharmalab IPO Final Subscription Status
Symbiotec Pharmalab IPO was subscribed 71.26 times overall, led by strong demand from qualified institutional buyers (QIBs), whose portion was subscribed 172.03 times.
- Qualified Institutional Buyers (QIBs): 172.03 times
- Non Institutional Investors: 73.63 times
- Retail Individual Investors (RIIs): 12.96 times
- Employees: 15.41 times
- Total: 71.26 times
The share allotment process of the issue was finalised on Aug. 28.
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Symbiotec Pharmalab IPO Details
Symbiotec Pharmalab IPO was a book-build issue of Rs 1,757 crore.
- The issue is a combination of fresh issue of 15.21 lakh shares aggregating to Rs 150 crore
- Offer-for-sale of 1.63 crore shares aggregating to Rs 1,607 crore
Symbiotec Pharmalab IPO had an issue price band of Rs 938 to Rs 988 per share. The lot size for an application was 15 shares. This means that the minimum amount of investment required by an individual investor (retail) was Rs 14,820 (based on upper price).
JM Financial Ltd. was the book running lead manager and MUFG Intime India Pvt. Ltd. was the registrar of the issue.
Symbiotec Pharmalab IPO: Use of Fresh Issue Proceeds
- Prepayment/ repayment of certain outstanding borrowings: Rs 112.50 crore
- General corporate purposes
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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