Symbiotec Pharmalab Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. This report, issued by CARE Edge Ratings, details the utilization and application of funds raised through the company’s Initial Public Offer (IPO). The report confirms that the IPO proceeds have been utilized appropriately for the objectives outlined in the offer document.
Symbiotec Pharmalab Submits IPO Fund Utilization Report
Symbiotec Pharmalab Limited has officially filed its Monitoring Agency Report, prepared by CARE Edge Ratings, for the financial quarter ending September 30, 2026. This report provides a comprehensive overview of how the funds raised through the company’s Initial Public Offer (IPO) have been utilized.
Key Findings on Fund Utilization
According to the report, the proceeds from the IPO have been allocated and utilized in alignment with the disclosures made in the offer document. The total IPO size was ₹1,757 crore, comprising ₹1,607 crore from an Offer for Sale and ₹150 crore from a Fresh Issue.
Breakdown of Fund Allocation
The monitoring agency confirmed that the utilization of funds has been appropriate for the stated objectives. The major categories of fund utilization include:
- Prepayment and/or repayment of outstanding borrowings: An original cost of ₹112.50 crore.
- General corporate purposes: An original cost of ₹29.53 crore.
- Offer related expenses for the Fresh Issue: An original cost of ₹7.98 crore.
The total proposed utilization amounts to ₹150.00 crore.
Progress and Compliance
As of the end of the quarter, the company reported total unutilized funds of ₹6.41 crore. The report indicates that the utilization of issue proceeds is progressing as per the stated objects. For General Corporate Purposes, specifically for working capital requirements, ₹29.50 crore has been utilized.
The report also addresses the implementation of objects, noting that the prepayment of borrowings is completed, while general corporate purposes and offer-related expenses are ongoing. There were no delays reported in the implementation of these objects.
CARE Edge Ratings has relied on various certifications, including CA Certificates and Management Certificates, to verify the utilization of proceeds. The agency has declared that there is no conflict of interest in its role as the Monitoring Agency.
Source: BSE
