windlass biotech ipo will open on 4 th august

windlass biotech ipo will open on 4 th august
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windlass biotech ipo will open on 4 th august

windlass biotech ipo will open on 4 th august

Vindlas Biotech is one of the top five pharmaceuticals formulation contract development and manufacturing organizations in the country. No Pharma Formulation Company Listed yet. If Vindlas gets listed, it will be the first company in the pharma sector.

By: Dhirendra

Updated: 29 Jul 2021, 10:48 PM IST

New Delhi. The pharmaceutical formulation company Windlas Biotech will launch the IPO market on 4 August 2021 to raise Rs 401.53 crore from the market. The company’s IPO public issue will open for subscription on August 4 and will close on August 6. The price band of the company’s issue has been kept at Rs 448 to 460.

Investors can apply in slots of at least 30 shares and multiples thereof. Under the IPO, an offer for sale will be made for new shares of Rs 165 crore and 51.42 lakh equity shares. Under this, the promoter of the company, Vimla Vindalas, will sell all her 11.36 lakh equity shares. Investor Tano India Private Equity Fund II will also sell all its 40.6 lakh equity shares. SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the Lead Managers for its book running.

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The fund will be used to increase capacity

Not more than 50% of the IPO will be reserved for QIBs. 15% reserve has been kept for NII. The rest of the IPO is reserved for retail investors. The special thing about this IPO is that no pharma formulation company is listed yet. If Windlas is listed, it will be the first such company. The company will use the funds raised from the IPO to buy equipment to increase capacity.

Vindalas Biotech is one of the largest five companies of Pharmaceuticals Formulation Contract Development and Manufacturing Organization (CDMO) in the country. It is involved in the development, licensing and development of complex generic products as well as generic products from product discovery to its development, licensing and sales. Over the counter and also sells its own branded products.

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