Windlas Biotech Limited IPO

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 are the company promoters.

Company Financials

Particulars For the year/period ended (₹ in million)
Summary of financial Information (Restated Consolidated) 31-Dec-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 3,158.83 3,384.88 2,981.80  2,898.87
Total Revenue 3,230.94 3,313.39 3,115.25 3,565.76
Profit After Tax 96.74 162.13 638.22 111.98


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.



Issue Details


ISSUE OPENS
Wednesday, August 04, 2021

ISSUE CLOSES
Friday, August 06, 2021

ISSUE PRICE
Rs 448 - Rs 460 Per Equity Share.

BID LOT
30 Equity shares & multiple of 30 Equity shares thereafter.

IPO SIZE
Rs. 401.54 Cr

LISTING EXCHANGES
NSE & BSE

ALLOTMENT DATE
Tentatively Thursday, August 12, 2021

RATIOS
QIB 50% - Retail 35% - NIB 15%

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