Windlas Biotech was incorporated on February 19, 2001. The company is in the domestic pharmaceutical formulations contract development and manufacturing business. It manufactures both solid and liquid pharmaceutical dosage and provides specialized capabilities, including, high potency, controlled substances and low-solubility along with a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics, in compliance with current Good Manufacturing Practices with a focus on improved safety, efficacy and cost.
| Bidding Dates |
|---|
| 04 Aug 2021 - 06 Aug 2021 |
| Subscription |
|---|
| 22.44x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,800 | 1 | 14 | 30 | 8.7 M | ₹448 - ₹460 | 59.95 % | ₹3910.7 M - ₹4015.4 M | RHP DOC |
Windlas Biotech IPO SUBSCRIPTION STATUS
06 Aug '21Windlas Biotech IPO overall subscription rate was 22.44 times the total available shares
Windlas Biotech IPO retail subscription rate was 24.22 times in the retail segment
Windlas Biotech IPO non-institutional investor subscription rate was 15.73 times in the non-institutional investor category
Windlas Biotech IPO Qualified Institutional Bidder subscription rate was 24.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Aug 2021 (Day 3) | 24.22x | 15.73x | 24.4x |
05 Aug 2021 (Day 2) | 13.52x | 1.12x | 0.04x |
04 Aug 2021 (Day 1) | 6.15x | 0.34x | 0x |
Windlas Biotech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| FY21 | 155.7 | 4,276.0 | 114.5 | 56.2 | 12.8% |
| FY20 | 162.1 | 3,288.5 | 250.1 | 97.1 | 10.3% |
| FY19 | 638.2 | 3,072.7 | 186.5 | 97.7 | 12.3% |
Windlas Biotech IPO SUBSCRIPTION STATUS DETAILS
Windlas Biotech had 8.7 M shares on offer
Windlas Biotech IPO offer price was in the range ₹448 - ₹460
Windlas Biotech IPO minimum Investment was ₹13800
Windlas Biotech IPO issue size was ₹ 3910.7 M - ₹ 4015.4 M
Windlas Biotech had a minimum lot size of 30 Shares per application
Windlas Biotech NUMBER OF SHARES ON OFFER
Windlas Biotech IPO IMPORTANT DATES
| Issue Open Date | 04 Aug 2021 |
| Issue close Date | 06 Aug 2021 |
| Allotment Date | 11 Aug 2021 |
| Refund Date | 12 Aug 2021 |
| Demat Account Credit Date | 13 Aug 2021 |
| Listing Date | 17 Aug 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Windlas Biotech Allotment Status | Exchange |
Windlas Biotech IPO subscription opened on 04 Aug 2021, and closed on 06 Aug 2021
IPO allotment for Windlas Biotech was finalized on Wednesday, 11 Aug 2021
IPO listing for Windlas Biotech was on NSE and BSE on Tuesday, 17 Aug 2021
Windlas Biotech IPO LISTING GAINS
| Issue Price (adjusted) | 460.0 |
| Listing Open Price | 439.0 |
| Listing Close Price | 406.7 |
| Listing Gain% | -4.6% |
| Current Gain% | 91.9% |
Windlas Biotech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Windlas Biotech Ltd. | 882.8 | 1924.1 | 27.9 | 3.1 | 2 | 11.5 | 7.3 | 921.9 | 18.5 | 66.6 | 10.1 | 31.7 | 9 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Windlas Biotech INFORMATION ON IPO ISSUE
About Windlas Biotech
Windlas Biotech was incorporated on February 19, 2001. The company is in the domestic pharmaceutical formulations contract development and manufacturing business. It manufactures both solid and liquid pharmaceutical dosage and provides specialized capabilities, including, high potency, controlled substances and low-solubility along with a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics, in compliance with current Good Manufacturing Practices with a focus on improved safety, efficacy and cost.
Object of the Issue
1. To purchase equipment required for capacity expansion of our existing facility at Dehradun Plant IV.
2. To finance incremental working capital requirements of the company.
3. Repayment/prepayment of company's borrowings.
4. General corporate purposes.
Windlas Biotech - PROMOTERS
| Name |
|---|
| Ashok Kumar Windlass |
| Hitesh Windlass |
| Manoj Kumar Windlass |
| AKW WBL Family Pvt Trust |
Windlas Biotech Book Running Lead Managers
SBI Capital Markets Limited
windlas.ipo@sbicaps.com
DAM Capital Advisors Limited
windlas.ipo@damcapital.in
IIFL Securities Limited
windlas.ipo@iiflcap.com
Windlas Biotech Registrar to the Offer
Link Intime India Private Limited
windlas.ipo@linkintime.co.in
Windlas Biotech Strengths
Leading market player
Leading market player in the domestic pharmaceutical formulation CDMO segment.
Strong focus
The company gives a strong focus on the chronic therapeutic category
Manufacturing facilities
The company has state-of-the-art manufacturing facilities in Dehradun, Uttarakhand
Experienced team
Professional and experienced Promoters and a senior management team
Product portfolio
An innovative product portfolio of complex generic products
Financial performance
Robust financial performance track record
Windlas Biotech Risks
Dependent on research and development
The company's operations are dependent on research and development
Competitive Industry
The company operates in a market that is highly competitive
Corporate actions
The company has undertaken certain corporate actions in the past, pursuant to which the consolidated financial statements for Fiscals 2019, 2020, and 2021 are not comparable to each other and any future financial results that the company may prepare
IPO FAQs
This IPO consists of an offer for sale of up to Rs 236.5 crore, of 5,142,067 shares. It also consists of a fresh issue of Rs 165.0 crore.
The promoters of the company are Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass and AKW WBL Family Pvt Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 448.0 - 460.0.
The IPO application opens on Aug 04, 2021 and closes on Aug 06, 2021.
The minimum lot size for the IPO is 30. The maximum lot size for the IPO is 420.
For all category investors, the minimum application amount for this IPO is Rs. 13,800.0, the maximum value for this IPO is Rs 193,200.0.
This IPO will be allotted on Aug 11, 2021.
The refund will be credited to your account on Aug 12, 2021.
The allotted shares will be credited to your demat on Aug 13, 2021.
Windlas Biotech Ltd.’s shares listed on the stock exchanges on Aug 17, 2021.