Domestic pharmaceutical formulations company Windlas Biotech has mopped up Rs 120.46 crore through the anchor book launched for a day on August 3, a day before issue opening.
The company in its BSE filing today said after consultation with merchant bankers, it has finalised allocation of 26,18,706 equity shares to anchor investors.
Anchor investors received shares at Rs 460 per equity share.
Marquee investors who participated in the anchor book were Macquarie, Optimix Wholesale Global Emerging Markets, Invesco Trustee, Kuber India Fund, and Elara India Opportunities Fund.
Among others, ICICI Prudential, Nippon India, UTI MF, Sundaram MF, BNP Paribas, Avendus MF, and Canara HSBC also invested in the company.
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"Out of the total allocation of 26,18,706 equity shares to the anchor investors, 11,95,680 equity shares (i.e. 45.66 percent of the total anchor investors allocation) have been allocated to 4 mutual funds who have applied through a total of 13 schemes," said the company.
The Rs 401.53-crore IPO of Windlas Biotech will open for subscription on August 4 and will close on August 6. The offer comprises a fresh issue of Rs 165 crore, and an offer for sale of 51,42,067 equity shares by Vimla Windlass, and Tano India Private Equity Fund II.
Also read - Windlas Biotech IPO: 10 key things to know before the issue opens
The price band for the offer has been fixed at Rs 448-460 per equity share.
The company will utilise net proceeds from fresh issue for purchase of equipment required for capacity expansion of existing facility at Dehradun Plant – IV, addition of injectables dosage capability at existing facility at Dehradun Plant-II; working capital requirements; and repayment of borrowings.
Windlas Biotech is amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) industry in India in terms of revenue. The company also sells own branded products in the trade generics and over-the-counter (OTC) markets as well as export generic products to several countries.