Symbiotec Pharmalab IPO
Price band
–
Issue size
₹2180 Cr
Issue size
About Symbiotec Pharmalab
Symbiotec Pharmalab Limited is a pharmaceutical company engaged in developing and manufacturing active pharmaceutical ingredients (APIs), contract development and manufacturing (CDMO) solutions, and complex injectables. The company operates an integrated business model supported by research and development, fermentation, and organic chemistry capabilities. Its API portfolio primarily focuses on steroidal products, while its CDMO business offers development and manufacturing services for pharmaceutical, nutraceutical, and other life science companies. The company also develops complex injectable products, including double-chamber formats, and leverages its in-house API capabilities to support these offerings. Revenue is generated through the sale of APIs, CDMO services, and complex injectable products. Its business is supported by backward integration in key raw material processing, large-scale fermentation capacity, and multiple manufacturing facilities, enabling it to serve customers across regulated and global markets while expanding into new therapeutic and fermentation-based product categories.
Strengths
- Operates an integrated business across APIs, CDMO services and complex injectables.
- Has one of India’s largest industrial-scale fermentation capacities with 700 KL capacity.
- Backward integration reduces dependence on external sources for key intermediates.
- Develops differentiated double-chamber injectable products using in-house API capabilities.
- Long-term manufacturing agreements and strategic partnerships support future business growth.
Risks
- Almost all revenue comes from API products, making the business dependent on API demand.
- A large share of revenue comes from a few key customers, and losing them could hurt the business.
- The company depends on key suppliers for raw materials, and supply disruptions could affect operations.
- The company faces intense competition in both the API and CDMO businesses.
- Failure to meet repayment obligations or loan covenants could adversely affect the business and finances.
Use of proceeds
| Repayment of borrowings | ₹112.5 (75%) Cr |
| General corporate purposes | ₹37.5 (25%) Cr |
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