From tech startups to specialty chemical makers, companies are queuing up to list on the stock exchanges in 2021. This week too, a host of IPOs are set to be launched. One of them is Dehradun-based pharmaceutical formulations manufacturer, Windlas Biotech. We bring all the key details about this latest public issue.
Key details
- IPO size: ₹402 crore
- Fresh issue: ₹165 crore
- Price band: ₹448-₹460 per share
- Lot size: 30 shares
- Cost per lot: 13,800
- Issue opens: 4 August 2021
- Issue closes: 6 August 2021
- Basis of allotment date: 11 August 2021
- Initiation of refunds: 12 August 2021
- Credit of shares to demat account: 13 August 2021
- Expected listing date: 17 August 2021
About Windlas Biotech
Incorporated in 2009, Windlas Biotech is one of the top five pharmaceutical formulations manufacturers in India. The company provides a range of CDMO (contract development and manufacturing operations) services such as product discovery, development, licensing and commercial manufacturing of generic products. It offers CDMO services to some of the top names in the pharma industry including Pfizer, Sanofi India and Cadila Healthcare. The company derives around 85% of the revenue from this segment.
It also sells its own branded trade generic and OTC products (nutraceutical and health supplement), which contribute around 10% of the total revenue. Besides these segments, the company also garners around 5% of the revenue from exports of generic and health supplements to its primary markets like Vietnam, Myanmar, Sri Lanka, Thailand, Philippines, Cambodia, Fiji, Trinidad & Tobago and South Africa.
With the CMDO segment providing stable and steady cash flow, the company has been able to grow its topline consistently. During FY19–21, the company’s revenue has grown at a CAGR of around 18%. But, in the same period, its net profit has shrunk from ₹63.8 crore to ₹15.5 crore.
About the issue
The IPO size is ₹402 crore. Of which, the offer for sale is ₹237 crore and the remaining ₹165 crore is the fresh issue. The company has said that it will use the proceeds from the IPO for capacity expansion, incremental working capital requirement and repayment of debt.
IPO allocation quota
| QIB | NIB | Retail |
| 50% | 15% | 35% |
To know more about the IPO, read its red herring prospectus here. The issue opens on 4 August 2021 and you can subscribe to Windlas Biotech with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!