Stocks

Windlas Biotech IPO to open on August 4; price band set at ₹448-460/share

PTI New Delhi | Updated on July 29, 2021

The IPO comprises fresh issuance of equity shares worth ₹165 crore and and an offer for sale of up to 51.42 lakh equity shares

Windlas Biotech, manufacturer of pharmaceutical formulations, on Thursday said it has fixed a price band of ₹448-460 a share for its initial share-sale.

The three-day initial public offer (IPO) will open on August 4 and conclude on August 6, the company announced in a virtual press conference.

The IPO comprises fresh issuance of equity shares worth ₹165 crore and and an offer for sale of up to 51.42 lakh 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 lakh equity shares.

At the upper end of the price band, the initial share-sale will fetch ₹401.53 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.

Published on July 29, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like