Windlas Biotech fixes price band of ₹448-460 a share1 min read . Updated: 29 Jul 2021, 07:49 AM IST
- The IPO consists of a fresh issue of ₹165 crore and an offer for sale of up to 5.14 million shares by its current promoters and shareholders
Windlas Biotech Ltd initial public offering has fixed its issue price at ₹448-460 a share. Earlier the firm said its issue will open on 4 August and closes on 6 August.
The IPO consists of a fresh issue of ₹165 crore and an offer for sale of up to 5.14 million shares by its current promoters and shareholders. At the upper end of price band the company will raise approximately ₹401 crore.
An offer for sale comprises sale of 1.14 million shares by Vimla Windlass and 4.01 million shares by Tano India Pvt Equity Fund II. Currently, Vimla Windlass holds 7.8% stake while Tano India Pvt Ltd holds 22% stake in the company.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities Ltd are the book running managers to the issue.
The proceeds from the issue worth ₹50 crore will be used to purchase equipment that is required for capacity expansion of its existing facility at Dehradun Plant IV and addition of injectables dosage capability at its existing facility.
The company will use ₹47.56 crore for funding incremental working capital requirements and ₹20 crore for repayment of its certain debt. As of March 2021, its total outstanding borrowings amounted to Rs32.16 crore.
For the fiscal year 2021, revenue from operations stood at ₹427.60 crore versus ₹328.85 crore a year ago. Net profit for the period stood at ₹15.57 crore against ₹16.21 crore in the same period last year.
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.
The company currently owns and operates four manufacturing facilities located at Dehradun in Uttarakhand. As of December 2020, its manufacturing facilities had an aggregate installed operating capacity of 7,063.83 million tablets/ capsules, 54.46 million pouches/sachet and 61.08 million liquid bottles.
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