Windlas Biotech IPO To Open On August 4


Windlas Biotech IPO: The shares are likely to be listed on the bourses on August 17

Windlas Biotech initial public offering (IPO) will be open for three days from August 4 to August 6. The IPO will consist of a fresh issue of Rs 165 crore and an offer for sale of up to 5.14 million shares by promoters and shareholders, including Vimla Windlass and Tano India Equity Fund II. Vimla Windlass holds stake of 7.8 per cent and Tano India holds 22 per cent in the company. The shares are likely to be listed on the bourses on August 17.

The company will utilise the IPO proceeds for expanding its Dehradun Plant-IV and adding injectables dosage capability at the facility at Dehradun Plant-II, as per the draft document filed with the market regulator. It will also use the funds for incremental working capital requirements, repayment/ prepayment of borrowings and general corporate purposes.

Windlas Biotech is among the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) industry in India. It has four manufacturing facilities located at Dehradun in Uttarakhand. Its marquee customers include the likes of Pfizer, Sanofi India, Cadila Healthcare and Intas Pharmaceuticals.

SBI Capital Markets, DAM Capital and IIFL Securities are the book running lead managers to the public issue.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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