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Windlas Biotech Limited IPO Detail

Windlas Biotech Limited IPO Detail

Incorporated in 2001, Windlas Biotech Ltd is one of the leading companies in the pharmaceutical formulations contract development and manufacturing organizations (CDMO) segment in India. The company offers a range of CDMO services from product discovery to product development, licensing, and commercial manufacturing of generic products including complex generics.

It further sells its own branded products in the trade generics and OTC markets. Currently, the focus of the company is to launch complex generic products in the chronic therapeutic category related to lifestyle-related disorders. The business operates in 3 verticals; 1. CDMO Products and services, 2. Domestic trade generics and Over-the-counter (OTC) market (nutraceutical and health supplement products), and 3. Export.

Leading pharma companies i.e. Pfizer Ltd, Sanofi India Ltd, Cadila Healthcare Ltd, Emcure Pharmaceuticals Ltd, Eris Lifesciences Ltd, Intas Pharmaceuticals Ltd, and Systopic Laboratories Private Limited are some of the marquee customers of Windlas Biotech. Its manufacturing facilities are located at Dehradun with an installed operating capacity of 7,063.83 million tablets/ capsules, 54.46 million pouch/ sachet, and 61.08 million liquid bottles.

Competitive strengths

  • Leading market player in the domestic pharmaceutical formulation CDMO segment.
  • Strong focus on the chronic therapeutic category.
  • state-of-the-art manufacturing facilities in Dehradun, Uttarakhand.
  • Professional and experienced Promoters and a senior management team.
  • An innovative product portfolio of complex generic products.
  • Robust financial performance track record.

Company Promoters

Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass, and AKW WBL Family Pvt Trust

IPO Details

IPO Opening DateAug 04, 2021
IPO Closing DateAug 06, 2021
Issue TypeBook Built Issue IPO
Face Value₹5 per equity share
IPO Price ₹448 - 460 per equity share
Market Lot30 Shares
Min Order Quantity30 Shares
Listing AtBSE, NSE
Issue Size₹401.54 Cr
Fresh Issue5,142,067 Eq Shares of ₹5 (aggregating up to ₹[.] Cr)
Offer for Sale5,142,067 Eq Shares of ₹5 (aggregating up to ₹[.] Cr)
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.00x 0.34x 6.12x 0.0x - 3.15x
Day 2 0.04x 1.11x 13.40x 0.0x - 6.99x
Day 3 24.40x 15.73x 24.22x 0.0x - 22.44x

IPO Tentative Timetable

The Windlas Biotech Limited IPO open date is Aug 04, 2021, and the close date is Aug 06, 2021. The issue may list on Aug 16, 2021.

IPO Open DateAug 04, 2021
IPO Close DateAug 06, 2021
Basis of Allotment DateAug 11, 2021
Initiation of RefundsAug 12, 2021
Credit of Shares to Demat AccountAug 13, 2021
IPO Listing DateAug 16, 2021

IPO Lot Size

The Windlas Biotech Limited IPO market lot size is 30 shares. A retail-individual investor can apply for up to 14 lots (420 shares or ₹193200).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding78%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Dec-20 315.88 323.09 9.67
31-Mar-20 338.49 331.33 16.21
31-Mar-19 298.18 311.52 63.82
31-Mar-18 289.88 356.57 11.20

Objects of the Issue:

  • To purchase equipment required for capacity expansion of our existing facility at Dehradun Plant IV.
  • To finance incremental working capital requirements of the company.
  • Repayment/prepayment of company's borrowings.
  • General corporate purposes.