Pharmaceutical company Symbiotec Pharmalab has set the price band for its upcoming initial public offering (IPO) at ₹933–988 per equity share, with subscription set to open on August 24.

At the upper end of the price band, Symbiotec Pharmalab is looking to raise ₹1,757 crore through the IPO. The issue comprises a fresh issue of shares worth ₹150 crore and an offer-for-sale (OFS) of shares worth up to ₹1,607 crore by existing shareholders.

About Symbiotec Pharmalab

Symbiotec Pharmalab is an Indore-based pharmaceutical company specialising in steroid-hormone active pharmaceutical ingredients (APIs), the raw materials used in the manufacture of a range of medicines. Steroid-hormone APIs are used in treatments across areas such as inflammation, allergies, dermatology and hormone-related therapies, and the company describes itself in its IPO filings as India's largest pure-play steroid-hormone API manufacturer.

That specialisation places Symbiotec within one of the Indian pharmaceutical industry's strongest global positions: India is among the world's largest producers and exporters of APIs, and API-focused companies have featured regularly among Indian pharmaceutical firms tapping the public markets in recent years.

How the Issue Is Structured

Under standard Indian IPO mechanics, the two components of the issue serve different purposes. A fresh issue raises capital that flows directly to the company, while an offer-for-sale allows existing shareholders to sell part of their holdings to public investors, with those proceeds going to the selling shareholders rather than to the company. In Symbiotec's case, the OFS of up to ₹1,607 crore accounts for the bulk of the ₹1,757 crore issue, meaning most of the money raised will flow to selling shareholders rather than into the company itself.

The price band defines the range within which investors can place their bids when the issue opens for subscription on August 24. As with other book-built issues, shares are reserved for qualified institutional buyers, non-institutional investors and retail investors under regulatory allocation norms, and the final issue price will be discovered through the bidding process. Ahead of the opening, the company can allot shares to anchor investors — typically institutional investors brought in a working day before subscription begins — a standard early checkpoint for institutional participation in a book-built IPO. The shares are proposed to be listed on the BSE and the NSE.

This article is based on a report by CNBC-TV18 Markets (original article).