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Issue Summary
Lot Size Strengths & Risks Financials Company Subscription GMP History Anchor Investors
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Symbiotec Pharmalab IPO
Symbiotec Pharmalab IPO — dates, price band, GMP & allotment.
Grey Market Premium
▲ ₹185
+18.72% over issue price
Updated 01 Sep 2026, 08:24 AM IST
Subscribed
71.26×
Overall, across all categories
Min Investment
₹14,820
Lot size 15 shares
Listing Gain
0%
CMP ₹1144.20
Timetable
Issue Summary
| Price Band | ₹938-988 |
| Face Value | ₹2 |
| Lot Size | 15 Shares |
| Issue Size | ₹1757 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| NSE Symbol | SYMBIOTEC.NS |
| BSE Scrip Code | 7907 |
| Min Investment | ₹14,820 |
Reservation
QIB
Retail
NII
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 15 | ₹14,820 |
| Retail (Max) | 13 | 195 | ₹192,660 |
| S-HNI (Min) | 14 | 210 | ₹207,480 |
| B-HNI (Min) | 68 | 1,020 | ₹1,007,760 |
Strengths & Risks
Strengths
- The company is a global leader in corticosteroid and steroidal hormone APIs, which is a specialised area with few makers worldwide.
- Its plants carry approvals from the US FDA, EU-GMP and the Korean drug regulator, which are hard to get and act as an entry barrier.
- Sales have grown every year, from Rs 723.33 crore in FY2024 to Rs 755.98 crore in FY2025 and Rs 872.26 crore in FY2026.
- EBITDA has improved steadily, from Rs 177.04 crore in FY2024 to Rs 206.11 crore in FY2025 and Rs 231.97 crore in FY2026.
- Borrowing was reduced sharply in the last year, from Rs 540.92 crore to Rs 387.91 crore, while net worth rose from Rs 821.15 crore to Rs 1,158.64 crore.
- The company is backward integrated and runs at industrial scale, with chemical synthesis capacity of 584.67 metric tonnes and fermentation capacity of 300 kilolitres.
- It has more than 30 years of experience in this line, having started as a lab scale steroid API maker in 1995.
- It sells into both regulated markets such as the USA and Europe and into emerging markets, so demand is not tied to one region.
Risks
- This is by far the most expensive issue in the current batch on earnings. At the upper band of Rs 988 the P/E is about 56.81 times on an EPS of Rs 17.39.
- Return ratios are low for that valuation. RoCE was 11.80% and RoNW was 11.79%.
- Profit has been almost flat for three years, at Rs 100.06 crore in FY2024, Rs 96.79 crore in FY2025 and Rs 109.90 crore in FY2026, even though assets grew from Rs 1,294.79 crore to Rs 1,780.79 crore over the same period.
- Very little of the issue money reaches the company. The stated objects account for only Rs 112.50 crore of borrowing repayment plus general corporate purposes, against a total issue of Rs 1,757 crore, which indicates that most of the issue is an offer for sale by existing shareholders.
- The pre issue and post issue promoter holding is not stated in the available data, so the extent of promoter dilution is not clear.
- API making is a regulated business. A negative inspection by the US FDA or the EU authorities at either plant can stop supply to those markets.
- The company is concentrated in steroid and corticosteroid APIs. A price fall or new capacity in that narrow segment would hit it directly.
- Borrowing is still sizeable at Rs 387.91 crore, and it had risen to Rs 540.92 crore in FY2025 before coming down, so the debt level has moved around a lot.
Valuation & Key Ratios
P/E Ratio
56.81
EPS (₹)
17.39
RoE
11.19%
RoCE
11.56%
RoNW
9.48%
PAT Margin
12.60%
EBITDA Margin
26.59%
NAV (₹)
184.69
Financials (Rs. Crore)
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,780.79 | 1,579.65 | 1,294.79 |
| Total Income | 872.26 | 755.98 | 723.33 |
| Profit After Tax | 109.90 | 96.79 | 100.06 |
| EBITDA | 231.97 | 206.11 | 177.04 |
| NET Worth | 1,158.64 | 821.15 | 720.68 |
| Reserves and Surplus | 1,145.95 | 810.03 | 709.54 |
| Total Borrowing | 387.91 | 540.92 | 247.21 |
About The Company
Symbiotec Pharmalab Ltd was set up in 2002. It is a pharmaceutical and biotechnology company that develops and makes active pharmaceutical ingredients, known as APIs, along with nutritional ingredients and specialty products. APIs are the actual medicine content that goes into a tablet or injection, which other pharma companies then turn into finished medicines.
The company started in 1995 as a small lab scale maker of steroidal hormone APIs and has grown into a large backward integrated manufacturer with more than 30 years of experience in the field. It is a global leader in corticosteroid and steroidal hormone APIs.
Its plants are approved by the United States Food and Drug Administration, by European Union Good Manufacturing Practices and by the Ministry of Food and Drug Safety of Korea, among other regulators. As on 30 June 2025 it ran two industrial scale API plants with a chemical synthesis capacity of 584.67 metric tonnes and a fermentation capacity of 300 kilolitres. It sells both in India and abroad, in regulated as well as emerging markets.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 172.03× | 3,739,872 | — |
| Non-Institutional Investors (NII) | 73.63× | 2,804,904 | — |
| Retail Individual Investors (RII) | 12.96× | 6,544,776 | — |
| Employee | 15.41× | 35,377 | — |
| Shareholder | 0× | — | — |
| Total | 71.26× | 13,124,929 | — |
GMP History
₹410
Highest GMP · 22 Aug
₹185
Lowest GMP · 31 Aug
Anchor Investors
| Investor | Category | Shares Allotted | Value |
|---|---|---|---|
| ICICI PRUDENTIAL SMALLCAP FUND | — | 607,290 | — |
| HDFC PHARMA & HEALTHCARE FUND | — | 404,865 | — |
| HDFC MNC FUND | — | 50,610 | — |
| ASHOKA WHITEOAK ICAV-ASHOKA WHITEOAK EMERGING MARKETS EQUITY FUND | — | 455,475 | — |
| MOTILAL OSWAL SMALL CAP FUND | — | 455,475 | — |
| MIRAE ASSET HEALTHCARE FUND | — | 354,270 | — |
| MIRAE ASSET MULTI ASSET ALLOCATION FUND | — | 101,205 | — |
| PRAZIM TRADING & INVESTMENT CO.PVT.LTD. | — | 253,050 | — |
| TATA INDIA PHARMA & HEALTHCARE FUND | — | 101,220 | — |
| TATA FLEXI CAP FUND | — | 151,830 | — |
| EDELWEISS LARGE CAP FUND | — | 202,425 | — |
| EDELWEISS RECENTLY LISTED IPO FUND | — | 50,625 | — |
| MANULIFE GLOBAL FUND-INDIA EQUITY FUND | — | 253,050 | — |
| MAHINDRA MANULIFE SMALL CAP FUND | — | 253,050 | — |
| TATA AIA LIFE INSURANCE CO.LTD.-WHOLE LIFE AGGRESSIVE GROWTH FUND-ULIF 010 04/01/07 WLA 110 | — | 161,955 | — |
| BAJAJ LIFE INSURANCE LTD. | — | 161,955 | — |
| BARODA BNP PARIBAS HEALTH & WELLNESS FUND | — | 60,720 | — |
| BARODA BNP PARIBAS FOCUSED FUND | — | 101,235 | — |
| BHARTI AXA LIFE INSURANCE CO.LTD. | — | 101,220 | — |
| TIMF HOLDINGS | — | 101,220 | — |
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Grey Market Premium and pre-listing figures are unofficial, unregulated indicators and are not a forecast of listing performance. This page does not constitute investment advice. NSE & BSE Registered Authorised Person · AMFI Registered Mutual Fund Distributor · ARN 309054.
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