Windlas Biotech unveils IPO
The initial public offering (IPO) of Windlas Biotech Ltd., a maker of pharma formulations, will open on August 4. The price band has been fixed at ₹448 to ₹460 per equity share of the face value of ₹5. Bids can be made for a minimum of 30 shares and in multiples of 30 shares thereafter. The IPO comprises fresh issue of up to ₹165 crore and an offer for sale of up to 5,142,067 shares by selling investors.
Windlas Biotech IPO to open on Aug 4; price band set at Rs 448-460/share
Windlas Biotech, manufacturer of pharmaceutical formulations, on Thursday said it has fixed a price band of Rs 448-460 a share for its initial share-sale.
The three-day initial public offer (IPO) will open on August 4 and conclude on August 6, the company announced in a virtual press conference.
The IPO comprises fresh issuance of equity shares worth Rs 165 crore and and an offer for sale of up to 5,142,067 equity shares.
As a part of the OFS, Vimla Windlass will offload 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will sell 40,06,067 equity shares.
At the upper end of the price band, the initial share-sale will fetch Rs 401.53 crore.
The proceeds from the IPO will be utilised for purchasing of equipment required for capacity expansion of the facility at Dehradun Plant -IV and addition of injectables dosage capability at the facility at Dehradun Plant-II.
It will also be used for funding incremental working capital requirements, repayment/ prepayment of certain of borrowings and general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors.
Book running lead managers to the issue are SBI Capital Ltd, DAM Capital ad IIFL Securities.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Windlas Biotech IPO to open for subscription next week. Key details to know
Manufacturer of pharmaceutical formulations Windlas Biotech will launch its initial public offering (IPO) next week on Wednesday, August 4. The three-day public issue will conclude on August 6 and the company has fixed the price band of the initial share sale at ₹448-460 per share.
The Windlas Biotech IPO comprises fresh issuance of equity shares worth ₹165 crore and an offer for sale (OFS) of up to 5,142,067 equity shares. At the upper end of the price band, the initial share-sale is expected to garner more than ₹400 crore.
As per market observers, Devyani International shares are available at as strong premium (GMP) of ₹150 in the grey market. The grey market is an unofficial platform, wherein trading starts after the announcement of IPO price band till the listing of IPO shares.
The proceeds from the IPO will be utilised for purchasing of equipment required for capacity expansion of the facility at Dehradun Plant -IV and addition of injectables dosage capability at the facility at Dehradun Plant-II.
It will also be used for funding incremental working capital requirements, repayment/ prepayment of certain of borrowings and general corporate purposes.
Half of the issue size i.e., 50% has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors. Book running lead managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities.
The firm is amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) industry in India in terms of revenue. It has also two strategic operations naming domestic Trade Generics and over the counter (OTC) Brands; and Exports.
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