BSE & NSE
04 Aug - 06 Aug '21
₹448 - ₹460
The Rs 401.53-crore Windlas Biotech IPO opened for subscription from Aug 4-6, 2021. The book built issue consists of a fresh equity issue worth Rs. 165 crore and an offer for sale (OFS) of Rs. 236.54 crore at the upper cap by existing selling shareholders. The company has already raised up to Rs 120.46 crore through the anchor book launched on August 3, a day before the issue opening. The issue is priced at Rs 448 to Rs 460 per equity share.
Windlas Biotech is a leading domestic pharmaceutical company that offers various CDMO-based services, such as licensing, commercial manufacturing, product discovery, product development, and manufacturing of general products and complex products. Leading pharma companies like Pfizer, Sanofi India, Cadila Healthcare, Emcure Pharmaceuticals, Eris Lifesciences, Intas Pharmaceuticals and Systopic Laboratories are some of the marquee customers of Windlas Biotech. The company's Dehradun facility has an installed operating capacity of 7,063.83 million tablets/ capsules, 54.46 million pouch/sachets, and 61.08 million liquid bottles.
The Windlas Biotech IPO is subscribed 22.44 times. The public issue subscribed 24.22 times in the retail category, 24.40 times in the QIB category, and 15.73 times in the NII category
The issue is priced at 52 times its earnings (EPS of Rs 8.7 per share) at an upper price band of Rs 460 per share, which makes the issue aggressively priced. Windlas Biotech is one of the leading contract development and manufacturing organisation (CDMO) in India with a focus on the chronic therapeutic category. The company's innovative portfolio comprises complex generic products supported by robust R&D capabilities. The company has also forged long-term relationships with leading Indian pharmaceutical companies.
Windlass Biotech provides a comprehensive range of CDMO services from product discovery, product development, licensing, and commercial manufacturing of an innovative range of generic products, including complex generics. Its long-term relationship with leading Indian pharmaceutical companies bodes well for the company. The company has a consistent track record in terms of its financial performance.
However, since the company depends on the success of its relationships with its CDMO customers, any adverse developments or inability to enter into or maintain such relationships could hurt their business, results of operations and financial condition. The pharmaceutical market is subject to extensive regulation. Failure to comply with regulatory requirements in any pharmaceutical market could adversely affect their business in that market, results of operations and financial condition.
You can apply for the Windlas Biotech Ltd. IPO in these ways:
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When can we expect the Windlas Biotech IPO allotment?
The Windlas Biotech IPO allotment status will be available on Aug 11, 2021, as per the timeline provided in the draft red-herring prospectus.
When is Windlas Biotech IPO listing date?
The Devyani International IPO shares will get listed on August 16, 2021. The equity share of Windlas Biotech will list on BSE, NSE.
What is the expected listing price of the Windlas Biotech IPO?
The expected listing price of Devyani International IPO is dependent on a number of factors which include demand for the IPO, nature of the business, market fundamentals and the state of the economy.