NewsSymbiotec Pharmalab IPO Day 2 Live: Fully subscribed at 1.25x - Check analysts view and moreSymbiotec Pharmalab IPO Day 2 Live: Fully subscribed at 1.25x - Check analysts view and more
- Symbiotec Pharmalab IPO is fully subscribed at 1.25x on Day 2.
- NII (bHNI) leads subscription at 2.54x, followed by Retail at 1.46x.
- Issue price band is ₹938.00000 to ₹988.00000 with a min bid qty of 15.
- Company reported ₹869.15 crores revenue in FY2026 with ₹109.90 crores profit.
- IPO closes on 2026-08-27; listing scheduled for 2026-09-01.
*this image is generated using AI for illustrative purposes only.
Symbiotec Pharmalab’s IPO has crossed the fully subscribed mark on Day 2, with total subscription ticking up to 1.25x. The issue, priced between ₹938.00000 and ₹988.00000, saw a sharp intra-day surge as NII (bHNI) jumped 14.4% and Retail rose 12.3% in just one hour.
Subscription Status
The subscription momentum picked up pace on Day 2, with the total subscription rising from 1.12x earlier in the day to 1.25x by noon. NII (bHNI) emerged as the leading category, followed by Retail. The issue remains fully subscribed.
| Category | Day 1 | Day 2 | Total |
|---|---|---|---|
| QIB | 0.35x | 0.54x | 0.54x |
| NII (bHNI) | 1.56x | 2.54x | 2.54x |
| NII (sHNI) | 0.77x | 1.28x | 1.28x |
| Retail | 0.94x | 1.46x | 1.46x |
| Total | 0.79x | 1.25x | 1.25x |
Intra-day timeline on 25-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.54x | 2.22x | 1.30x | 1.12x |
| 12:15 | 0.54x | 2.54x | 1.46x | 1.25x |
Momentum highlights
- NII (bHNI) jumped +14.4% today (from 2.22x to 2.54x)
- Retail jumped +12.3% today (from 1.30x to 1.46x)
- Total jumped +11.6% today (from 1.12x to 1.25x)
About the Company
Symbiotec Pharmalab Limited is a research and development-driven, science-based pharmaceutical and biotechnology company founded in 2002. It operates across three platforms: organic chemistry, biotechnology, and complex injectables. The company holds a global leadership position in corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs), with a global volume market share of 38.2% in corticosteroid and 23.8% in steroidal-hormone APIs. It serves over 200 customers across 40+ countries as a contract development and manufacturing organisation (CDMO).
Financial Highlights
The company reported consistent revenue growth over the last three years. Total equity increased significantly from ₹714.84 crores in FY2024 to ₹1149.59 crores in FY2026.
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from operations (₹ crores) | 716.25 | 751.55 | 869.15 |
| Total Profit (₹ crores) | 100.06 | 96.79 | 109.90 |
| Total Equity (₹ crores) | 714.84 | 814.71 | 1149.59 |
Revenue grew from ₹716.25 crores in FY2024 to ₹869.15 crores in FY2026. Profit before tax also showed an upward trend, reaching ₹153.36 crores in FY2026.
Objects of the Issue
- Prepayment and/or repayment of outstanding borrowings: ₹112.50 crores
- General corporate purposes: Balance net proceeds
Risk Factors
- High Revenue Concentration in APIs: Almost all revenue is derived from API sales, with top five APIs constituting over 60% of revenue.
- Regulatory Compliance and Manufacturing Quality Risks: Manufacturing facilities are subject to periodic inspections; recent US FDA inspections resulted in Form 483 observations.
- Significant Export Revenue Exposure: Over 55% of revenue is generated from external customers outside India, exposing the company to foreign exchange fluctuations.
Key Dates
- Close Date: 2026-08-27
- Allotment Date: 2026-08-28
- Listing Date: 2026-09-01
How might the recent US FDA Form 483 observations impact Symbiotec's ability to secure new contracts or maintain its current global market share post-listing?
Given that over 60% of revenue comes from the top five APIs, what is the company's strategy to diversify its product portfolio and reduce concentration risk in the medium term?
Will the allocation of net proceeds towards repaying ₹112.50 crores in borrowings significantly improve the company's debt-to-equity ratio and interest coverage metrics?
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