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Windlas Biotech to focus on domestic trade generics and product portfolio
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Yash Ved, Mumbai
August 02 , 2021
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Windlas Biotech Limited, a manufacturer of pharmaceutical formulations, will be focusing on the domestic trade generics and OTC brands strategic business value and high growth export markets by capitalizing on industry opportunities and will foray into high growth injectables segment.
The company said that it will be expanding product portfolio and delivery systems by enhancing R&D and manufacturing capabilities and will capitalize on expansion opportunities by leveraging leadership position in the CDMO industry.
The company stated that it will continue to identify, develop and launch new products and delivery systems from pipeline to meet market needs and capture growth opportunities to sustain our revenue growth and profitability.
The company aims to deliver customized, innovative and complex generic products to customers and emphasize on maintaining consistency in the quality of products as well as planning and executing projects in a timely manner.
"We intend to particularly focus on specializing in developing liquid vials and lyophilized vials. About 85% of our revenue comes from CDMO business. Our current promoter holding is 78% and post IPO our holding would be roughly 60%. On exports front, we are getting more dossier registrations,” stated Hitesh Windlass, managing director, Windlas Biotech.
The company is also focused on improving efficiency of operations and increasing the value of research and manufacturing services to our clients.
The company’s revenue from operations amounted to Rs. 427.6 crore and operating income at Rs. 54 crore, respectively, in fiscal 2021.
The company proposes to open its initial public offering on Wednesday, August 04, 2021 and will close on August 6, 2021.
The price band of the Offer has been fixed at Rs. 448 to Rs. 460 per equity share. Bids can be made for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.
The initial public offer consists of equity shares of face value of Rs. 5 each of Windlas Biotech Limited comprising a fresh issue aggregating up to Rs. 1,650 million and an offer for sale of up to 5,142,067 equity shares.
The total fund raising would be Rs. 401.53 crore, which the company proposes to utilize the net proceeds towards funding of the following objects, purchase of equipment required for capacity expansion of the existing facility at Dehradun Plant – IV; and (addition of injectables dosage capability at our existing facility at Dehradun Plant-II. repayment/prepayment of certain of borrowings; funding incremental working capital requirements of the company.
Founded in the year 2001, Windlas Biotech provides pharmaceutical development services, large-scale manufacturing services and authentic yet affordable products to its customers and consumers around the world. The company currently owns and operates four manufacturing facilities located at Dehradun in Uttarakhand.
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