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Windlas Biotech and 4 Other Pharma Launching IPOs in August

Many pharma companies are planning to hit the Indian markets with their initial public offerings (IPOs) in August, including two are Windlas Biotech and Krsnaa Diagnostics, which are set to open for subscription in the first week of the month on August 4.

The list also includes the Rs 4,000-crore IPO by the Bain Capital-backed Emcure Pharma, the Rs 1,500-crore issue by Vijaya Diagnostic Centre and Mumbai-based bulk drugs maker Supriya Lifesciences ( Rs 1,200 crore). Investment bankers estimate these five companies to together raise over Rs 8,300 crore through the public offerings this month, reported news agency PTI.

Windlas Biotech, one of the leading CDMOs focusing on the chronic therapeutic segment, Rs 400-crore issue, is opening on August 4. The three-day public issues will conclude on August 6, and the company has fixed the price band of the initial share sale at Rs 448-460 per share. It will be the first pharma formulations CDMO to go public. The IPO proceeds will be used to augment the capacity of its Dehradun plants II& IV. It has two more plants, the Uttarakhand city.

Apart from these pharma firms, Devyani International Exxaro Tiles are opening on August 4 and issues from consumer-focused companies like Paytm, Mobikwik, Policybazaar, Cartrade, Delhivery and Nykaa shortly.

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