Symbiotec Pharmalab files draft papers to raise ₹2,180 cr via IPO

Madhya Pradesh-based pharma and biotech firm Symbiotec Pharmalab, backed by Rosewood Investments and Motilal Oswal, has filed its Draft Red Herring Prospectus (DRHP) with SEBI on Friday to raise ₹2,180 crore via initial public offering (IPO). The issue includes a ₹150 crore fresh share sale. Existing shareholders will offload shares worth up to ₹2,030 crore via an offer for sale.