Think Investments, ValueQuest And Others Invest ₹648 Crore In Symbiotec Pharmalab Ahead Of IPO

New Delhi: Think India Opportunities Master Fund, Dymon Asia Multi-Strategy Investment, ValueQuest and WhiteOak Capital are among investors that have picked up a 10.4 per cent stake in Symbiotec Pharmalab for nearly Rs 648 crore through a secondary share transaction, ahead of its Rs 1,757-crore IPO.

A total of 65.57 lakh equity shares, amounting to 10.4 per cent stake, changed hands on August 19 at Rs 988 apiece, taking the transaction value to Rs 647.89 crore, according to a public announcement by the Indore-based company.

Rosewood Investments transferred 27.83 lakh shares worth around Rs 275 crore, while Motilal Oswal Private Equity-backed India Business Excellence Fund-III offloaded 37.74 lakh shares valued at Rs 372.89 crore.

The shares were picked up by a clutch of investors, including Think India Opportunities Master Fund, Dymon Asia Multi-Strategy Investment (Singapore), ValueQuest, WhiteOak Capital, Singularity Equity Fund I, Waterfield Flagship Fund I and Landmark Capital Markets.

The transactions were executed at Rs 988 per share, the upper end of the price band for Symbiotec's upcoming IPO.

The IPO is set to open for subscription on August 24 and close on August 27. Anchor investors will bid on August 21.

The price band has been fixed at Rs 938-988 per share, valuing the company at around Rs 6,350 crore at the upper end.

The issue comprises a fresh issue of equity shares worth up to Rs 150 crore and an Offer-for-Sale (OFS) of shares aggregating up to Rs 1,607 crore.

Under the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund-III will sell shares.

The latest secondary transaction comes just days ahead of the IPO.

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