Windlas Biotech LTD IPO: GMP, Issue price, Issue size

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Windlas Biotech LTD IPO is all set to make a debut in the stock market with an issue size of 1838 Cr. Windlas Biotech Ltd is one of the leading companies in the pharmaceutical formulations contract development and manufacturing organizations (CDMO) segment in India.  

Windlas Biotech LTD IPO -Overview  

Windlas Biotech Limited IPO Issue Date         4- 6 August 2021        
Windlas Biotech Limited IPO Opening Date         4 August 2021        
Windlas Biotech Limited IPO Face Value         INR 5 per share         
Windlas Biotech Limited IPO Price         INR 401.54 per share        
Windlas Biotech Limited IPO Lot Size         30 Shares        
Issue Size         401.54 Cr        
Offer for sale         236.54 Cr     
Issue Type         Book built Issue IPO         
Listing At         BSE, NSE        
QIB Shares Offered           24.40 times        
NII (HNI) Shares         15.73 times        
Company Promoters         Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass, and AKW WBL Family Pvt Trust are the company promoters. 
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Windlas Biotech LTD IPO-Tentative Dates         

Windlas Biotech Limited IPO opening date         4 August 2021          
Windlas Biotech Limited IPO closing date         6 August 2021        
Basis of Allotment         11 August 2021        
Initiation of Refunds         12 August 2021        
The credit of Shares to Demat        13 August 2021        
Windlas Biotech Limited IPO Listing Date         17 August 2021        

Windlas Biotech – Industry Overview.        

The global pharmaceutical industry is characterized by the concentration of consumption, production, and innovation in a relatively small number of high-income countries which continue to account for a major portion of this market in value terms on account of higher-priced drugs and newer products. However, over the recent few years, production, as well as consumption, has started to shift to middle-income countries, such as India and China; these “Pha merging” markets also account for a higher share in volume terms and have outpaced growth in high-income markets.  These double-digit-growth countries are now the strategic focus points for many multinational pharmaceutical companies. Though, for pharmaceutical research and development (“R&D”), high-income countries continue to dominate expenditure in both the public and private sectors.  

Windlas Biotech LTD IPO

Windlas Biotech Limited IPO – Company Overview         

Windlas Biotech Ltd amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (“CDMO”) industry in India in terms of revenue. With over two decades of experience in manufacturing both solid and liquid pharmaceutical dosage forms and significant experience in providing specialized capabilities, including, high potency, controlled substances, and low-solubility, they provide a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics,  in compliance with current Good Manufacturing Practices (“GMP”) with a focus on improved safety,  efficacy and cost. fiscal 2020, the market share was 1.5% in terms of revenue in the domestic formulations CDMO industry. In addition to providing services and products in the CDMO market, they also sell their own branded products in the trade generics and OTC markets as well as export generic products to several countries. 

Windlas Biotech Limited IPO-Objectives         

  • To purchase equipment required for capacity expansion of their existing facility at Dehradun Plant IV. 
  • To finance incremental working capital requirements of the company. 
  • Repayment/prepayment of company’s borrowings. 
  • General corporate purposes. 

Windlas Biotech Limited IPO – Financial Statements        

Particulars        31-Mar-21      31-Mar-20      31-Mar-19      
Total Assets        2,961.23 3,384.88 2,981.80 
Total Revenue        4,306.95 3,313.39 3,115.25 
Profit After Tax        155.70 162.13 638.22 

Windlas Biotech Limited IPO- 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. 

Windlas Biotech Limited IPO -Weakness         

  • Dependency on the success of its relationships with its CDMO customers, including leading Indian pharmaceutical companies and multinational companies. 
  • Highly competitive market. 

Company Contact Information

Windlas Biotech Limited
40/1, Mohabewala Industrial Area,
Dehradun, 248110

Phone: +91 135 6608000

Windlas Biotech IPO Registrar

Phone: +91-22-4918 6270

Windlas Biotech IPO Lead Manager(s)

  1. DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) (Past IPO Performance)
  2. IIFL Securities Ltd (Past IPO Performance)
  3. SBI Capital Markets Limited (Past IPO Performance)


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