Windlas Biotech
IPO Size
`401.54 Cr
Price Band
`448-460 Per Share
Minimum Lot Size
30 Share
Face Value
`5 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
04 Aug, 2021
Issue Close Date
06 Aug, 2021
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
Windlas Biotech is amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization 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. The company provides 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 with a focus on improved safety, efficacy and cost.
The company is managed by professional and experienced Promoters and a senior management team with significant expertise in the pharmaceutical industry. Promoter and Whole-time Director Ashok Kumar Windlass has over 20 years of experience in the manufacturing and pharmaceutical business in India, while Hitesh Windlass, Promoter and Managing Director, help in regards to the strategic, corporate and technical operations. The firm leverages the experience of their Individual Promoters and senior management team to anticipate and address market trends, manage and grow our operations, maintain and leverage customer relationships and respond to changes in customer preferences.
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Promoters | 3 - Directors | |||
| Entity Name | By the Company | Against the Company | By the Promoters | Against the Promoters | By the Directors | Against the Directors |
| Criminal cases | 6 | 2 | - | - | - | - |
| Material civil cases | - | 1 | - | - | - | - |
| Taxation matters | - | 11 | - | - | - | - |
| Regulatory Procedings | - | 5 | - | - | - | - |
| Amt. (In Million Rs.) | 6.25 | 77.64 | - | - | - | Non-Quantifiable |
Financial Statements:
| Income Statement (In Millions) | FY21 | FY20 | FY19 | |
| Gross Operating Income | 4306.95 | 3313.39 | 3115.25 | |
| Cost of Employee & Inventory | 3327.29 | 2551.7 | 2348.81 | |
| Other Expenses | 401.81 | 322.16 | 338.78 | |
| EBITDA | 577.85 | 439.53 | 427.66 | |
| Depreciation | 129.65 | 92.93 | 105.91 | |
| Interest | 12.9 | 25.26 | 48.38 | |
| Share in gain/loss from joint ventures | -1.73 | -74.66 | -7.67 | |
| Exceptional Items | -216.17 | 495.45 | ||
| Profit Before Tax | 217.4 | 246.68 | 761.15 | |
| Tax | 61.7 | 84.55 | 122.93 | |
| Profit After Tax | 155.7 | 162.13 | 638.22 | |
The promoters of the company are Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass, and AKW WBL Family Pvt Trust.
The company has no listed peer s in India that is engaged in similar business while some unlisted peers are: Akums Drugs, Synokem Pharmaceuticals, Theon pharmaceuticals, Innova Captab and Tirupati Medicare.
The object of the Offer for Sale is to allow Vimla Windlass and Tao India PE Fund II to sell an aggregate of up to 5.14 million equity Shares held by them amounting at Rs. 236.54 cr. The company will not receive any proceeds from the Offer for Sale.
The company has planned to raise fresh capital comprising an aggregate of 35,86,956 equity shares having Face Value ₹5 aggregating up to Rs. 165 Cr at the upper price band of Rs. 460. Out of the net proceeds, an amount of Rs. 50 cr. will be utilized for capacity expansion of existing facility at Dehradun Plant, Rs. 47.56 cr. will be allocated for funding incremental working capital requirements, an amount of Rs. 20 cr. will repay/prepay certain borrowings while rest will be utilized for general corporate purpose.