InvestorQ : Can you tell me about the proposed IPO of Windlas Biotech?
ishika Banerjee made post

Can you tell me about the proposed IPO of Windlas Biotech?

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2 months ago
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Windlas Biotech has just about filed a draft red herring prospectus or DRHP with SEBI to raise funds via an IPO. The date of the IPO is yet to be decided. The IPO will consist of a fresh issue of shares worth Rs.165 crore and it will be combined with an offer for sale or an OFS consisting of 51.4 lakh shares by early shareholders including promoters. Vimla Windlass will hive 1.14 million shares out of the 7.8% stake in the company.

Meanwhile, Windlas Biotech is negotiating with its BRLMs to raise about Rs.50 crore via pre-IPO placement. It also proposes to offer shares to anchor investors just a day prior to the actual IPO opening. The proceeds of the fresh issue will be utilized to buy equipment for capacity expansion of its existing facility at Dehradun for higher injectables dosage. For the 9 months to Dec-20, WIndlas Biotech reported revenues of Rs.320.79 crore and net profits of Rs.9.7 crore.

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