Windlass Biotech IPO: Subscription Begins Today; Check price band and date of listing.
Windlass Biotech IPO will open for subscription on Wednesday. Pharmaceutical formulation maker Windlass Biotech has fixed a price band of Rs 448-460 per share for its initial share-sale. The three-day initial public offering (IPO) will conclude on August 6.
The IPO includes issue of equity shares worth Rs 165 crore and offer for sale of 5,142,067 equity shares. As a part of the OFS, Vimala Windlass will sell 11.36 lakh equity shares, and investor Taino India Private Equity Fund II will sell 40,06,067 equity shares.
At the upper end of the price band, the initial share-sale will fetch Rs 401.53 crore.
Windlass Biotech on Tuesday said it has raised over Rs 120 crore from anchor investors. The company has decided to allot 26,18,706 equity shares at Rs 460 per share to 22 funds totaling Rs 120.46 crore.
The proceeds from the IPO will be used to purchase equipment required for expansion of the facility at Dehradun Plant-IV and to add injectable dosing capacity at the facility at Dehradun Plant-II. It will also be used for financing incremental working capital requirements, repayment/prepayment of certain borrowings and for general corporate purposes.
Half of the issue size is reserved for Qualified Institutional Buyers (QIBs), 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
The Book Running Lead Manager of the issue is SBI Capital Markets Limited, DAM Capital and IIFL Securities.
The equity shares will be listed on NSE and BSE on August 17.
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