Windlas Biotech, a manufacturer of pharmaceutical formulations, on Tuesday said it has raised over Rs 120 crore from anchor investors ahead of its IPO that opens on Wednesday.
The company has decided to allocate 26,18,706 equity shares at Rs 460 apiece to 22 funds aggregating to Rs 120.46 crore, according to a circular uploaded on BSE website.
Among the anchor investors who participated in the bidding are ICICI Prudential Mutual Fund (MF), UTI MF, Sundaram MF, Kuber India Fund, BNP Paribas Arbitrage, Elara India Opportunities Fund and Canara HSBC Oriental Bank of Commerce Life Insurance Company.
The Initial Public Offer (IPO) comprises fresh issuance of equity shares worth Rs 165 crore and an offer for sale of up to 5,142,067 equity shares.
As a part of the OFS, Vimla Windlass will offload 11.36 lakh equity shares and Tano India Private Equity Fund II will sell 40,06,067 equity shares.
The public issue, with a price band of Rs 448-460 a share, will be open from August 4-6. At the upper end of the price band, the initial share sale will fetch Rs 401.53 crore.
The proceeds from the IPO will be utilised for purchasing of equipment required for capacity expansion of the facility at Dehradun Plant-IV and addition of injectables dosage capability at the facility at Dehradun Plant-II.
It will also be used for funding incremental working capital requirements, repayment/ prepayment of certain of borrowings and general corporate purposes.
Half of the issue size has been reserved for Qualified Institutional Buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Book Running Lead Managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities.
Separately, Exxaro Tiles, a leading manufacturer of vitrified tiles, has raised Rs 23.68 crore from anchor investors.
The company has decided to allocate 19,73,325 equity shares at Rs 120 apiece to anchor investors.
The IPO of up to 1,342,4000 equity shares comprise a fresh issue of up to 1,11,86,000 equity shares and an offer for sale of up to 22,38,000 equity shares by Dixitkumar Patel.
The Gujarat-based company has fixed a price band of Rs 118-120 apiece for its initial share sale, which will be open from August 4-6.
At the upper end of the price band, the IPO will fetch Rs 161.08 crore.
Proceeds from the fresh issue would be utilised by the company towards repaying/ prepaying of borrowings, funding its working capital requirements besides general corporate purposes.
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