Windlas Biotech Limited, one of the leading domestic pharmaceutical formulations CDMO will open its IPO on August 4th to August 6th 2021. The price band has been fixed for Rs.448-460 a share.
The Windlas Biotech 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. At the upper end of the price band, the IPO 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.
Windlas Biotech Limited is amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization in India in terms of revenue (Source: CRISIL Report). The company is operational from over two decades and is into manufacturing of both solid and liquid pharmaceutical dosage forms. Windlasis focused on launching new complex generic products in the chronic therapeutic category linked to lifestyle related disorders The Company has an innovative portfolio of complex generic products supported by robust R&D capabilities. It currently owns and operates four manufacturing facilities located at Dehradun in UttarakhandOver the years, it has developed relationships with leading Indian pharmaceutical companies, including Pfizer Limited, Sanofi India Limited, Cadila Healthcare Limited/ Zydus Healthcare Limited, Emcure Pharmaceuticals Limited, Eris Lifesciences Limited, Intas Pharmaceuticals Limited and Systopic Laboratories Private Limited. It has demonstrated consistent growth in terms of revenues and profitability
Book running lead managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities.