Windlas Biotech’s Rs 401.53-crore IPO will open for subscription on Wednesday, 4 August, at a cost of Rs 448-460 per share of face worth of Rs 5, each and every. The public problem will close on Friday, 6 August. This would be 31st IPO so far in the calendar 2021. The provide comprises fresh problem of shares worth Rs 165 crore and an provide-for-sale (OFS) of 51.42 lakh shares by current promoting shareholders. Promoter Vimla Windlass will sell 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will offload its whole stake of 40.06 lakh shares (or 22 per cent of pre-provide paid up equity) by way of OFS route. SBI Capital Markets, DAM Capital Advisors, IIFL Securities are book operating lead managers. Link Intime India is the registrar to the problem.
Bids can be made for a minimum of 30 shares and in multiples thereof, translating to a minimum investment of Rs 13,800 per lot at the upper band of IPO cost. Not more than 50 per cent of the provide will be reserved for Qualified Institutional Buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs). The cost/earnings ratio based on diluted EPS for FY 2021 for the organization at the upper finish of the cost band is 52.87. The P/E of Nifty50 index as on March 31, 2021 is 33.20x. The weighted typical return on net worth for the last 3 fiscals is 13.27 per cent.
There are no listed firms in India that engage in a company equivalent to that of Windlas Biotech. The organization has planned to utilised the net proceeds for obtain of gear needed for (i) capacity expansion of our current facility at Dehradun Plant – IV and (ii) addition of injectables dosage capability at current facility at Dehradun Plant II worth Rs 50 crore, funding incremental working capital needs of the organization worth Rs 47.5 crore and towards repayment/prepayment of specific borrowings of Rs 20 crore, and for common corporate purposes.
Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass and AKW WBL Family Private Trust, are the promoters of the organization. Promoters and promoter group held 78 per cent stake in Windlas Biotech. Windlas Biotech is amongst the leading 5 players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) sector in India in terms of income.