Windlas Biotech IPO will open for subscription on Wednesday. Windlas Biotech, a manufacturer of pharmaceutical formulations, has fixed a price band of Rs 448-460 a share for its initial share-sale. The three-day initial public offer (IPO) will conclude on August 6.
The IPO comprises fresh issuance of equity shares worth Rs 165 crore and and an offer for sale of up to 5,142,067 equity shares. As a part of the OFS, Vimla Windlass will offload 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will sell 40,06,067 equity shares.
At the upper end of the price band, the initial share-sale will fetch Rs 401.53 crore.
Windlas Biotech on Tuesday said that it has raised over Rs 120 crore from anchor investors. The company has decided to allocate 26,18,706 equity shares at Rs 460 apiece to 22 funds aggregating to Rs 120.46 crore.
The proceeds from the IPO will be utilised for purchasing of equipment required for capacity expansion of the facility at Dehradun Plant -IV and addition of injectables dosage capability at the facility at Dehradun Plant-II. It will also be used for funding incremental working capital requirements, repayment/ prepayment of certain of borrowings and general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors.
Book running lead managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities.
The equity shares will be listed on NSE and BSE on August 17.
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