Windlas Biotech IPO
Windlas Biotech Limited (WINDLAS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 August 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +13.9% (likely range +12% to +34%), day's high +23.7%, chance of a gain 92%. Actual: -5.0% at the open, -1.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 17,23,700 | 4,20,65,880 | 24.4x | |
| NII (HNI) total | 13,23,766 | 2,08,26,420 | 15.7x | |
| Retail | 30,88,786 | 7,49,61,960 | 24.3x | |
| Total | 61,36,252 | 13,78,54,260 | 22.5x |
Bids on NSE and BSE together, as published by NSE, as of 06 Aug 2021, 08:00 PM. Shares offered exclude the anchor portion. 42% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Windlas Biotech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Stove KraftJan 2021 | 8.02x | 32.7x | 26.0x | 18.0x | ₹413 Cr | +29.4% | +29.4% |
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Ircon InternationalSep 2018 | 12.3x | 4.92x | 10.1x | 9.90x | ₹806 Cr | -13.3% | -2.1% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| PSP ProjectsMay 2017 | 8.38x | 10.4x | 6.47x | 8.58x | ₹212 Cr | -9.5% | -5.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| SBI Capital Markets | 56 | +16.7% | 61% |
| DAM Capital Advisors | 37 | +13.6% | 59% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Windlas Biotech IPO price band and lot size? ₹448–460 per share, with a lot of 30 shares, so the smallest retail bid is ₹13,800.
How many times has it been subscribed? 22.5x overall: QIB 24.4x, NII 15.7x, retail 24.3x.
How did it list? It opened at ₹437, -5.0% against the issue price of ₹460, and closed its first day -11.5%.
