Tag: Windlas Biotech

IPO roundup: Primary market route remains busy but this time with some caution

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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There has been no dearth of companies lining up to make their way to the bourses keeping the health of the primary market strong over the past few months but the week gone by has been particularly crucial for the IPO market. It is crucial not only because it saw four companies getting listed on the exchanges but also because it was a week that saw some cool off in the euphoria surrounding the IPOs and valuations attempted to catch up with fundamentals.

Companies like Windlas Biotech, Devyani International, Krsnaa Diagnostics and Exxaro Tiles raised Rs 3,614 crore and got listed on exchanges. Also, 17 companies including three SMEs have filed Draft Red Herring Prospectus (DRHP) with SEBI in the week between August 15 to August 27.

*Note: Some Figures Are Indicative Or Source-Based

Windlas Biotech

Dehradun-based Windlas Biotech is one of the top companies in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) in India.

The company had set an issue price of Rs 448-460/share. The issue was subscribed over 22X.

Windlas Biotech made a weak debut on exchanges listing at Rs 439/share, down almost 5 percent as compared to its issue price of Rs 460/share. The stock closed its first week on the exchanges with being down over 20 percent from its issue price.

Devyani International

Devyani International operated popular chains in India like KFC, Pizza Hut and Costa Coffee. The company had set an issue price of Rs 86-90/share. The issue was oversubscribed over 116X, generating bids for 1,313.79 crore  equity shares against an offer size of 11.25 crore equity shares.

Devyani International made a strong debut on exchanges listing Rs 141/share, a premium of 56 percent over its issue price of Rs 90/share. The company closed its first week on the exchanges by trimming its overall gain by 16 percent from the high it made on the listing day itself.

Krsnaa Diagnostics

Krsnaa Diagnostics is India’s largest diagnostic services provider, both in Radiology and Pathology. The company is present in 14 states and 1800+ locations across the country.

The company had set an issue price of Rs 933-954/share. The issue was subscribed 64X with retail portion getting subscription of 42X.

The company made a subdued listing on the exchanges, listing at a premium of 7 percent to its issue price. The stock closed its debut week on exchanges with being down 16 percent from its high and 3 percent from issue price.

Exxaro Tiles

Exxaro Tiles is engaged in the manufacturing, marketing activities of vitrified tiles. It supplies its products to large infrastructure projects i.e. residential, educational, commercial, hotels, hospitals, government, builders or developers, religious institutions. It also exports tiles to different countries across the globe i.e. Poland, Bosnia, the USA, and others.

The company had set its issue price at Rs 118-120/share. The issue was subscribed 23X, receiving bids worth 25.97 crore bids against the issue size of 1.15 crore  shares. The quota reserved for retail investors saw a 17.64 times subscription.

Exxaro Tiles also made a subdued listing on the exchanges listing at a premium of 5 percent at Rs 126/share. The company made a high of Rs 132/share and closed the week nearly 7 percent down from the high point. For the week, shares of Exxaro Tiles are up 2.5 percent from its issue price.

The week between August 15 to August 22 saw one staring listing in the form of Devyani International whereas Windlas Biotech disappointed its investors at least on a listing day. In the same period (the previous week) Market snapped its 2-week gaining streak with Sensex dropping 0.2 percent and Nifty 0.5 percent. Nifty Bank also fell over 3 percent & Midcap Index nearly 2 percent.

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Devyani makes strong debut, Windlas lists at discount: how latest IPOs fared

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Four stocks entered the listed arena on Dalal Street on Monday, with Devyani International outshining others making a strong debut as its shares listed at a premium of 57 percent over the issue price. Krsnaa Diagnostics shares started trading on stock exchanges BSE and NSE at a premium of 5-7 percent.

Out of the four stocks that debuted on August 16, Windlas Biotech’s was the only one that opened at a discount to its issue price. On NSE, the stock listed at a discount of 5 percent.

Here’s how the four stocks — Devyani, Windlas, Krsnaa and Exxaro — fared at the opening:

Read more on the listing of Devyani, Exxaro, Krsnaa and Windlas shares here

The IPO of Devyani International — the largest franchisee of Yum Brands in India — was subscribed 27 times in a three-day bidding process that concluded on August 6. The portion reserved for qualified institutional buyers (QIB) was subscribed 95.27 times, and that for non-institutional investors 213.06 times. The quota for retail individual investors saw a subscription of 39.51 times. (Read more on Pizza Hut operator’s IPO)

The public offer of Krsnaa Diagnostics was subscribed 8.56 times. The category meant for QIBs saw a subscription of 49.83 times, and that for non-institutional investors 116.30 times. The quota for retail investors was subscribed 42.04 times. (Read more on Krsnaa IPO)

Windlas Biotech’s IPO saw a subscription of 22 times. The category for QIBs was subscribed 24.40 times, and that for non-institutional investors 15.73 times. The portion reserved for retail investors saw a subscription of 24.27 times. (Read more on Windlas Biotech IPO)

Exxaro Tiles’ IPO was subscribed 23 times in the bidding process.  The portion reserved for QIBs was subscribed 13.74 times and that for non-institutional investors 2.01 times. The quota reserved for retail investors saw a 17.64 times subscription. (Read more on Exxaro IPO)

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Windlas Biotech lists at 5% discount at Rs 437 per share on NSE

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The shares of Windlas Biotech got listed at Rs 437.00 apiece on the National Stock Exchange, a discount of 5 percent to the issue price of Rs 460.00. The stock has been listed at a discount of 4.57 percent at Rs 439.00 on the BSE.

The initial public offering (IPO) of Windlas Biotech was subscribed 22.47 times during August 4-6 as the issue received bids for 13.78 crore equity shares against the IPO size of 61.36 lakh shares.

The price band for the IPO was Rs 448-460 per equity share and comprised 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 Ltd is amongst the top five players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) industry in India in terms of revenue.

It operates under three distinct strategic business verticals CDMO Services and Products; Domestic Trade Generics and over-the-counter (OTC) Brands; and Exports.

In FY20, the company’s market share was around 1.5 percent in terms of revenue in the domestic formulations CDMO industry.

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Windlas Biotech IPO share allotment today. How to check status?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Windlas Biotech is set to announce the share allotment of its public issue on Wednesday, August 11. The initial public offer (IPO) of Windlas Biotech was subscribed a little over 22 times.

Qualified Institutional Buyers subscribed 24.1 times to their reserved portion, whereas retail investors subscribed 24.54 times. Its shares are trading at a premium of Rs 65 on the grey market, down Rs 5 from the price on Tuesday.

Once the share allotment is final, the status will appear on the given websites. In case of non-allotment, the blocked amount will be refunded to your bank account.

Here’s how to check the allotment status:

A. The website of registrar – Linkintime

1) Visit the website: https://www.linkintime.co.in/IPO/public-issues.html

2) Select IPO name from the dropdown

3) Enter Application Number or DP ID/Client ID or PAN

4) In the case of application number, select application type (ASBA or NON-ASBA) and ‘Enter Application Number’. In the case of DPID/Client ID, select Depository “NSDL or CDSL” and enter “DP ID/Client ID”.

5) Enter ‘Captcha’ and submit

B. On BSE:

1) Visit the website: https://www.bseindia.com/investors/appli_check.aspx.

2) Select ‘Equity’ and then from the dropdown, select issue name

3) Enter your Application Number and PAN Card number

4) Click on the “Search” button

Once you hit the submit button, your details should appear on the screen. Please ensure you enter the correct details.

The IPO consisted of a fresh issue of shares worth Rs 165 crore and an offer for sale of Rs 236.5 crores. The shares were in the price range of Rs 448-460 apiece.

Analysts had recommended a subscribe rating to the issue on the backs of its strong R&D and manufacturing capabilities along with long-term client relationships with marquee pharma companies.

Also Read | Devyani International IPO share allotment today: How to check status?

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Windlas Biotech IPO Day 3: Issue subscribed 22.36 times so far

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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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.

Read here: Windlas Biotech IPO to open today; here are key things to know

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.

Read here: Windlas Biotech IPO opens for subscription; should you invest?

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

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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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.

Read here: Windlas Biotech IPO to open today; here are key things to know

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.

Read here: Windlas Biotech IPO opens for subscription; should you invest?

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Windlas Biotech IPO subscribed 3.18 times on Day 1

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The initial public offering (IPO) of Windlas Biotech has been subscribed 3.18 times on August 4, the first day of bidding. The issue has received bids for 1.94 crore equity shares as against 61.36 lakh shares offered, as per the subscription data on the exchanges.

The reserved portion of retail investors received 6.22 times subscription, while the part set aside for non-institutional investors is subscribed 34 percent. Qualified institutional buyers are yet to put in their bids.

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 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.

Read here: Windlas Biotech IPO to open today; here are key things to know

Windlas Biotech is focusing on formulation CDMO and there is no peer company focusing solely on the CDMO model.

The company’s innovative portfolio of complex generic products supported by robust R&D capabilities, efficient and quality compliant manufacturing facilities with significant entry barriers, long-term relationships with Indian pharmaceutical companies and a consistent track record of financial performance provide for further growth visibility, says BP Equities.

Read here: Windlas Biotech IPO opens for subscription; should you invest?

“On the valuation front, at the upper price band, the issue is aggressively priced at 64.4x P/E considering the diluted equity shares and FY21 annualized earnings. However, considering all the positive factors mentioned above, we give a “Subscribe” rating on this issue for the long term,” said the brokerage.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow