August 4, 2021 8:00:00 am
Windlas Biotech IPO: The initial public offering (IPO) of Windlas Biotech, a manufacturer of pharmaceutical formulations, will open for subscription on Wednesday, August 4, 2021, at a price band of Rs 448-460 per share of the face value of Rs 5 each. The offer will be available till Friday, August 6, 2021.
The company plans to raise Rs 401.53 crore with the help of fresh issuance of equity shares worth Rs 165 crore and an offer for sale (OFS) of up to 51,42,067 equity shares. Under 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.
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.
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.
Investors who wish to subscribe to the Windlas Biotech IPO can bid in a lot of 30 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 13,800 to get a single lot of Windlas Biotech. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).
The applicants also must note that the cut-off time for UPI mandate confirmation is Monday, August 9, 2021, upto 12:00 pm. If they fail to do so then their application may not be considered.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the book running lead managers to the IPO while Link Intime India is the registrar of the issue.
Before heading into the IPO, Windlas Biotech raised over Rs 120.46 crore (Rs 1,20,46,04,760) from 22 anchor investors in lieu of 26,18,706 equity shares at Rs 460 each, data from the stock exchanges showed.
The anchor investors include the likes of ICICI Prudential Mutual Fund (MF), UTI MF, Sundaram MF, Kuber India Fund, BNP Paribas Arbitrage, Elara India Opportunities Fund and Canara HSBC Oriental Bank of Commerce Life Insurance Company among others.
The share allotment is likely to take place on August 11, 2021, and the shares are expected to be listed on August 17, 2021, according to the timeline given in the red herring prospectus (RHP).
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