Windlas Biotech Ltd’s initial public offering will open on 4 August and close on 6 August.
The IPO consists of a fresh issue of ₹165 crore and an offer for sale of up to 5.14 million shares by its current promoters and shareholders.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities Ltd are the book running lead managers to the issue.
The proceeds from the issue worth ₹50 crore will be used to purchase equipment that is required for capacity expansion of its existing facility at Dehradun Plant IV and addition of injectables dosage capability at its existing facility.
The company will use ₹47.56 crore for funding incremental working capital requirements and ₹20 crore for repayment of certain debt. As of March 2021, its total outstanding borrowings amounted to ₹32.16 crore.
For the fiscal year 2021, revenue from operations stood at ₹427.60 crore versus ₹328.85 crore a year ago. Net profit for the period stood at ₹15.57 crore against ₹16.21 crore in the same period last year.
The firm is among the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) industry in India in terms of revenue. It has also two strategic operations — domestic trade generics and over-the-counter (OTC) brands, and exports.
This article was first published on livemint.com.