The initial public offering (IPO) of Windlas Biotech has been subscribed 22.36 times on August 6, the third and final day of bidding as the issue received bids for 13.71 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 24.05 times subscription, while the part set aside for non-institutional investors is subscribed 15.73 times. The reserved quota for Qualified institutional buyers saw 24.40 times subscription till 4:50 pm.
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.
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 closes today.
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.