Symbiotec Pharmalab raises ₹526 cr from anchor investors; IPO opens Aug 24
Pharma and biotech company Symbiotec Pharmalab Ltd on Friday raised Rs 526 crore from anchor investors days before the opening of its initial public offering (IPO).
The company allocated 53.26 lakh equity shares to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund.
Shares were allotted at Rs 988 per share, the upper end of its IPO price band, according to a circular uploaded on the BSE website.
The anchor round saw participation from foreign portfolio investors, insurance companies, mutual fund houses, an alternative investment fund and an NBFC.
Apart from ICICI Prudential Mutual Fund, HDFC Mutual Fund and Motilal Oswal Mutual Fund, other investors included Citigroup Global Markets Mauritius, BNP Paribas Financial Markets, Bajaj Life Insurance, Tata AIA Life Insurance, Mirae Asset, Tata Mutual Fund and Edelweiss Mutual Fund.
The company will launch its IPO on August 24 to raise Rs 1,757 crore through a combination of fresh issu
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