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.
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.
- CDMO Services and Products
- Domestic Trade Generics and over-the-counter brands
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.
- 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
Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass and AKW WBL Family Private Trust
Profit After Tax
*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 Opening Date
August 4, 2021
IPO Closing Date
August 6, 2021
Book Built Issue IPO
Rs 5 per equity share
Rs 448 to Rs 460 per equity share
Min Order Quantity
IPO Listing Date
August 17, 2021
IPO Lot Size