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Windlas Biotech, an Indian drugmaker, is set to open for initial public offering on August 4, with a fresh issue of Rs 165 crore and an offer for sale of 51.42 lakh equity shares by existing shareholders. The price band is set at Rs 448 to Rs 460 per equity share.
Promoter Vimla Windlass will sell 11.36 lakh equity shares and investor Tano India Private Equity Fund II will sell its entire 22% stake of 40.06 lakh equity shares through the offer for sale.
Company Summary
Windlas is a leading player in the domestic pharmaceutical formulations contract development and manufacturing organization (“CDMO”) industry. They have a variety of CDMO services including product discovery, product development, licensing and commercial manufacturing of generic products, as well as complex generics. At the end of fiscal year 2020, it had a market share of approximately 1.5% in terms of sales. They currently have four manufacturing facilities located at Dehradun in Uttarakhand.
Business Segments
- CDMO Services and Products
- Domestic Trade Generics and over-the-counter brands
- Exports
Company’s Client List
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.
Company Strengths
- Leading CDMO firm with a focus on chronic therapeutic category
- Portfolio of innovative and complex generic products supported by strong R&D capabilities
- Efficient manufacturing facilities with robust quality control
- Well established long-term relationships with leading Indian pharmaceutical companies
Company Promoters
Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass and AKW WBL Family Private Trust
Financial Summary
Particulars | 31-Dec-20 | 31-Mar-20 (FY20) | 31-Mar-19 (FY19) | 31-Mar-18 (FY18) |
Total Assets | 3,158.83 | 3,384.88 | 2,981.80 | 2,898.87 |
Total Revenue | 3,230.94 | 3,313.39 | 3,115.25 | 3,565.76 |
Total Expense | 2,877.89 | 2,992.05 | 2,841.88 | 3,368.50 |
Profit After Tax | 96.74 | 162.13 | 638.22 | 111.98 |
*All amount in INR million
Purpose of the IPO
- Purchase of equipment required for capacity expansion of their existing facility at Dehradun Plant – IV and addition of injectables dosage capability at Dehradun Plant II amounting to Rs 50 crore
- Funding incremental working capital requirements of Rs 47.56 crore for the company
- Repayment/prepayment of certain borrowings of Rs 20 crore
- General corporate purposes
IPO Details
IPO Opening Date | August 4, 2021 |
IPO Closing Date | August 6, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | Rs 5 per equity share |
IPO Price | Rs 448 to Rs 460 per equity share |
Market Lot | 30 Shares |
Min Order Quantity | 30 Shares |
Listing at | NSE, BSE |
IPO Listing Date | August 17, 2021 |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 30 | Rs 13,800 |
Maximum | 14 | 420 | Rs 1,93,200 |
To read more about other IPOs on August 4, click the respective links below