Windlas Biotech IPO Opens Today. Here Are Some Key Points About It
Windlas Biotech, a manufacturer of pharmaceutical formulations' initial public offer (IPO) opened for public subscription on August 4.Â
The IPO comprises of fresh issuance of equity shares worth Rs 165 crore and an offer for sale of up to 5,142,067 equity shares. Its price band is Rs 448 to Rs 460 per equity share and Windlas aims to raise Rs 401.53 crore at the higher end of the price band. The issue will close on August 6.
Meanwhile on Tuesday, the company had informed that it had raised over Rs 120 crore from anchor investors. Windlas had taken a decision to allot 26,18,706 equity shares at Rs 460 apiece to 22 funds aggregating to Rs 120.46 crore.
Anchor investors who participated in the bidding are ICICI Prudential Mutual Fund, UTI Mutual Funds, Sundaram Mutual Funds, Kuber India Fund, BNP Paribas Arbitrage and Elara India Opportunities Fund among others.Â
The proceeds of the IPO will be used by the company to purchase equipments needed for capacity expansion at its Dehradun Plant-IV and addition of injectables dosage capability at the facility at Dehradun Plant-II.
Book Running Lead Managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities.
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