Symbiotec Pharmalab Shares List at 1% Discount on BSE
· Business · LiveMint, Business Standard
Symbiotec Pharmalab shares debuted on the BSE at ₹978.20, marking a 1% discount from the issue price of ₹988. On the NSE, the stock listed flat at the issue price. The listing followed a public subscription period that saw the IPO oversubscribed 75 times, although the grey market premium had previously signaled a potential 19% gain. The company, which manufactures active pharmaceutical ingredients and nutritional products, raised ₹1,607 crore through the IPO. The proceeds are intended for loan repayment and general corporate purposes.
Why it matters
The weak listing performance despite high subscription levels highlights current volatility in the Indian stock market and investor caution regarding IPO valuations.
Read the original report — LiveMint
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