India: Windlas Biotech IPO to open on 4 Aug

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.

Th offer for sale comprises 1.14 million shares by Vimla Windlass and 4.01 million shares by Tano India Pvt Equity Fund II. Currently, Vimla Windlass holds 7.8% stake while Tano India Pvt Ltd holds 22% stake in the company.

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.

The company currently owns and operates four manufacturing facilities located at Dehradun in Uttarakhand. As of December 2020, its manufacturing facilities had an aggregate installed operating capacity of 7,063.83 million tablets/ capsules, 54.46 million pouches/sachet and 61.08 million liquid bottles

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.