The company plans to utilise fund raised through net proceeds on prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and general corporate purposes
Symbiotec Pharmalab, a research and development-driven, science-based pharmaceutical and biotechnology company with capabilities across three platforms- organic chemistry, biotechnology and complex injectables has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The company plans to raise funds through offer of equity shares (face value Rs 2 each) through initial public offerings aggregating up to Rs 2,180 Crore. The offer comprises of fresh issue of equity shares aggregating up to Rs 150 crore (The “Fresh Issue”) and offer for sale by Selling Shareholders aggregating up to Rs 2,030 crore (The Offer for Sale).
The company plans to utilise fund raised through net proceeds on a.) Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and b.) General corporate purposes.
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
JM Financial Limited, Avendus Capital Private Limited, Motilal Oswal Investment Advisors Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue.
