Can you tell me about the forthcoming IPO of Windlas Biotech?

Windlas Biotech announced the price band for its forthcoming initial public offer in the range of Rs.448-460 per share. The IPO will open for subscription on 04 August and close on 06 August. The IPO will comprise of a fresh issue of shares to the tune of Rs.165 crore and an offer for sale or OFS of 51.42 lakh shares adding up to Rs.237 crore. The overall size of the IPO at the upper end of the price band would be Rs.402 crore.

Windlas will use the proceeds from the fresh issue for purchase of equipment needed for capacity expansion of its Dehradun Plant-IV. Apart from general purposes, the IPO proceeds will also be used for repayment or prepayment of certain borrowings in order to reduce solvency risk for the company.