Symbiotec Pharmalab IPO: 260% return in 8 months for promoters! Jhunjhunwala's bet to deliver 45.6x

The recently announced IPO of Symbiotec Pharmalab has been catching investors' attention, as its promoters are eyeing a whopping 260% gain in just eight months. The pharma player, backed by late investor Rakesh Jhunjhunwala, may see the value of his investment zoom up to 45.6 times since he invested in the company nearly two decades ago.

According to the RHP filed by the company, promoters including Anil Satwani, Kashish Satwani, Sushil Satwani, Prakash Sawlani, Satwani Holdings LLP and Goldfin Capital LLP were allotted 69,99,516 equity shares with a face value of Rs 2 each at Rs 276 apiece. The shares were allotted on December 13, 2025, for a total consideration of Rs 193.18 crore.

At the upper end of the IPO price band, the shares are being offered at Rs 988 apiece, delivering a gain of around 260% to these promoters in just eight months. The company had filed its draft IPO papers on December 24. The Rs 1,757 crore IPO will open for bidding from August 24 to August 26. The issue comprises a fresh share sale of Rs 150 crore and an offer-for-sale (OFS) of up to Rs 1,607 crore.

To recall, promoter entity Satwani Holdings is offloading shares worth Rs 144 crore in the IPO. Based on its weighted average cost of acquisition (WACA) of Rs 49.43 apiece, it will make a whopping 1,900 per cent profit on the shares being sold. Other entities, India Business Excellence Fund-III and Rosewood Investments, which are participating in the OFS, will make a profit of around 570% based on their WACA of Rs 147.21 per share.

Besides this, the company also received an investment from ace investor Rakesh Jhunjhunwala, who invested Rs 7.5 crore in the company in August 2007. He bought 5,22,000 equity shares at Rs 143.68 apiece. He was allotted another 2,08,800 equity shares in July 2009 through a rights issue at Rs 20 per share, investing an additional Rs 41.76 lakh. This took his total investment to nearly Rs 7.92 crore for 7,30,800 shares.

However, the face value of the stock was Rs 10 at the time. The company subsequently carried out a stock split in the first half of 2025, adjusting Jhunjhunwala's cost of acquisition to Rs 21.67 per share. At the IPO issue price, the value of Jhunjhunwala's holding would stand at around Rs 361 crore, representing a 45.6 times surged from his original investment and a notional return of up to 4,460 per cent.

JM Financial Ltd, Avendus Capital, Motilal Oswal Investment Advisors and Nomura Financial Advisory are the book-running lead managers of the Symbiotec Pharmalab IPO, while MUFG Intime India is the registrar to the issue. Shares of the company are scheduled to be listed on both the BSE and NSE on Tuesday, September 1.