Shares of pharma and biotech company Symbiotec Pharmalab Ltd on Tuesday made a muted market debut, listing nearly 1% lower on the BSE, against the issue price of ₹988.
The stock started trading at ₹978.20, down 0.99% from the issue price on the BSE. However, later in the trade shares of the firm recovered the early lost ground and were trading at ₹1,074.05, up 8.70%.
At the NSE, the stock listed at par with the issue price at ₹988. Later, it climbed 9.65% to ₹1,083.40.
1 August 2026
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The company's market valuation stood at ₹6,965.36 crore.
The initial public offering of Symbiotec Pharmalab Ltd was subscribed 71.26 times on the last day of bidding on Thursday.
The IPO was a combination of a fresh issue of shares worth up to ₹150 crore and an Offer For Sale (OFS) component amounting to ₹1,607 crore.
The company's IPO price band was ₹938-988 per equity share.
Proceeds of the fresh issue will be used for debt payment and general corporate purposes.
The Indore-based Symbiotec is a research and development-driven pharmaceutical and biotechnology company with capabilities across three platforms -- organic chemistry, biotechnology, and complex injectables.
It's a global leader in corticosteroid and steroidal hormone active pharmaceutical ingredients (APIs).
