Windlas Biotech IPO closed on August 6, 2021, with the issue getting subscribed 22.46 times on the last day. The three-day IPO received bids for 13,77,39,750 shares against 61,36,252 shares on offer, as per NSE data.  The initial public offer had a fresh issue of up to Rs 165 crore and an offer for sale of up to 51,42,067 equity shares. The Rs 401.53-crore offer had a price range of Rs 448-460 per share. 

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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 borrowings, and general corporate purposes.