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NEW DELHI: Analysts tracking primary issues believe one can subscribe to the initial public offering of Windlas Biotech, a Contract Development Manufacturing Organisation (CDMO), for the long term. The issue opens for subscription today.
The Dehradun-based firm will raise Rs 165 crore through issuance of fresh equity shares, while the promoters and existing shareholders will offload 51,42,067 equity shares worth Rs 236 crore via an offer-for-sale (OFS). The price band for the issue is fixed at Rs 448-460 per share.
“Windlas is focusing on formulation CDMO, and there is no peer company focusing solely on the CDMO model. Considering its return ratios and profitability, the issue seems to be fully priced. But factoring the growth drivers of the CDMO sector and opportunities available for the company, we assign a ‘subscribe for long term’ rating on the issue,” said Rajnath Yadav of Choice Broking.
Windlas Biotech IPO Opens Today. Here Are Some Key Points About It Windlas Biotech IPO Opens Today. Here Are Some Key Points About It Windlas Biotech IPO: The proceeds of the IPO will be used by the company to purchase equipments needed for capacity expansion at its Dehradun plant.
Windlas Biotech IPO opened today for subscription
Windlas Biotech, a manufacturer of pharmaceutical formulations initial public offer (IPO) opened for public subscription on August 4.
The IPO comprises of fresh issuance of equity shares worth Rs 165 crore and an offer for sale of up to 5,142,067 equity shares. Its price band is Rs 448 to Rs 460 per equity share and Windlas aims to raise Rs 401.53 crore at the higher end of the price band. The issue will close on August 6.