Windlas Biotech has issued 61.36 lakh shares under the issue. Whereas on the first day so far 1.23 crore bids have come.
Windlas Biotech IPO: The company's issue has been subscribed twice so far on the first day. Windlas Biotech's issue was fully subscribed within two hours of the issue opening. There is good demand from retail investors on this issue.
The company had raised Rs 120.46 crore from anchor investors on August 3. Thereafter, the issue size came down from 87.29 lakh to 61.36 lakh.
A portion of retail investors is subscribed 4 times. At the same time, the reserved share for non-institutional investors is 11 percent. Whereas qualified institutional investors are yet to bid.
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Windlass Biotech has fixed a price band of Rs 448-460 per share for the public offer. It has a strong product portfolio and can generate good profits from the business in the long run.
The company will use the funds from this to increase the capacity. Along with this, the company also has a plan to repay the debt. Windlass Biotech has reserved half of the IPO for Qualified Institutional Buyers (QIBs). 15 percent for non-institutional investors and 35 percent for retail investors.
In the last financial year, the company's revenue share in the formulations CDMO industry in the country was around 1.5 percent. The company's clients included 7 of the top 10 formulations pharmaceutical companies in the country. It has 4 manufacturing plants in Dehradun, Uttarakhand.