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This article is more than 1 month old.

Windlas Biotech IPO Day 2: Issue subscribed 7.06 times so far

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The initial public offering (IPO) of Windlas Biotech received bids for 4.33 crore equity shares against the IPO size of 61.36 lakh shares, as per the subscription data on the exchanges.

Windlas Biotech IPO Day 2: Issue subscribed 7.06 times so far
The initial public offering (IPO) of Windlas Biotech has been subscribed 7.06 times on August 5, the second day of bidding as the issue received bids for 4.33 crore equity shares against the IPO size of 61.36 lakh shares, as per the subscription data on the exchanges.
The reserved portion of retail investors received 13.52 times subscription, while the part set aside for non-institutional investors is subscribed 1.12 times. Qualified institutional buyers have put out bids for 70,440 shares as against 17,23,700 shares reserved for them.
The company has already raised up to Rs 120.46 crore through the anchor book launched on August 3, a day before the issue opening. It has allocated 26,18,706 equity shares to anchor investors at Rs 460 per equity share.
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The price band for the IPO is Rs 448-460 per equity share and the company plans to raise Rs 401.53 crore at the higher end of the price band. The issue will close on August 6.
The IPO comprises a fresh issue of shares worth Rs 165 crore and an offer for sale of shares worth Rs 236.5 crore (51,42,067 equity shares) by existing selling shareholders.
Windlas Biotech is focusing on formulation CDMO and there is no peer company focusing solely on the CDMO model.