Windlas Biotech IPO subscription opens today: Check price band, issue size, GMP & more
Windlas biotech IPO will go through a three-day Initial Public Offering subscription starting from August 4-August 6. Investors can bid the IPO at Rs 448-640
- Republic Business
- 2 min read
Windlas Biotech has opened its door for investors. The leading pharmaceutical company has started its three-day Initial Public Offering (IPO) subscription from August 4 - August 6. The price of each IPO will cost Rs 448-640 for its initial share. Individual investors will have to buy a minimum of one lot of 30 shares, which will cost around Rs 13,800 per lot, and a maximum of 14 lots can be purchased, which can go up to Rs 1.93,200.
Notably, this year, Windlas Biotech is the second pharmaceutical company to launch its IPO on the market. Glenmark Life Sciences was the first.
All you need to know about Windlas Biotech
Windlas Biotech comes under the top five leading domestic pharmaceutical companies. The leading pharmaceutical offers a variety of CDMO-based services, such as licensing, commercial manufacturing, product discovery, product development, and manufacturing of general products and complex products.
The company is looking forward to expanding its existing facility, therefore the funds generated by the IPO will be utilized to purchase different equipment for the Dehradun Plant IV set up. The company is being promoted by Hitesh Windlas, Manoj Kumar Windlas, and Ashok Kumar Windlas, along with AKW WBL Family Private Trust.
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Windlas Biotech IPO grey market premium (GMP)
In the price range of Rs 135-140, Windlass Biotech grey market premium is strong as of today. For the unversed, the GMP is an unofficial platform. Trading at GMP starts after the announcement of the IPO price band and lasts till the final listing of IPO shares. The shares of the pharmaceutical company will be listed on the BSE and NSE.
Windlas Biotech IPO issue size
The qualified institutional buyers (QIB) will get 50% of the issue size, whereas 35 % is reserved for retail investors and the last 15 % for noninstitutional investors. SBI Capital Markert Ltd, DAM Capital, and IIFL Securities are the book-running lead managers for the issue.