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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capacity Expansion at Dehradun Facilities
Purchase of equipment for capacity expansion at Dehradun Plant-IV and adding injectables dosage capability at Dehradun Plant-II.
Funding Incremental Working Capital Requirements
Financing incremental working capital requirements of the company to support operational expansion.
Repayment or Prepayment of Borrowings
Repayment or prepayment of certain outstanding borrowings availed by the company.
General Corporate Purposes
Funding general corporate requirements and operational expenses.
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(₹ in Crore)
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Windlas Biotech Limited is a prominent Contract Development and Manufacturing Organization (CDMO) based in India, specializing in pharmaceutical formulations. Incorporated in 2001, the company offers comprehensive services spanning product discovery, process development, regulatory licensing, and commercial manufacturing. It serves a broad client base, including major domestic pharmaceutical corporations and international healthcare enterprises. The company operates four state-of-the-art manufacturing facilities in Dehradun, Uttarakhand. Its manufacturing infrastructure supports a diverse array of dosage forms, including tablets, capsules, liquid orals, and specialized formulation delivery systems. In addition to its core CDMO operations, Windlas Biotech maintains dedicated verticals for domestic trade generic formulations, over-the-counter (OTC) healthcare brands, and export markets. Backing its operational footprint with strong research and development capabilities, Windlas Biotech continuously invests in technical expertise and capacity expansion. The company focuses on developing complex formulations while adhering to stringent quality standards certified under WHO-GMP guidelines. Through strategic expansion and product line diversification, it aims to reinforce its market position across global pharmaceutical supply chains.
Windlas Biotech Limited raised ₹120.46 crore from anchor investors on August 3, 2021, allocating 26,18,706 equity shares at ₹460 per share to institutional investors including ICICI Prudential Mutual Fund, Nippon Life India, Invesco India, and BNP Paribas.
Source: RHP • Analysis provided for informational purposes
Last Updated: 25 July 2026, 10:45 PM
Leading CDMO Position in India
Windlas Biotech ranks among the top five contract development and manufacturing organizations in the domestic pharmaceutical formulation market.
Comprehensive Product Portfolio & Services
Provides end-to-end solutions from formulation discovery to commercial manufacturing across solid, liquid, and specialized oral dosage forms.
State-of-the-Art Infrastructure
Operates four modern manufacturing plants in Dehradun equipped with advanced technology and compliant with WHO-GMP quality standards.
Strong In-House R&D Capabilities
Dedicated research capabilities drive technical transfer, formulation optimization, and rapid commercialization for pharmaceutical partners.
Client Concentration Risk
A significant portion of revenue relies on key long-term customers, exposing business to risks of contract loss or reduced volume orders.
Regulatory & Compliance Standards
Pharmaceutical operations must meet strict quality standards, where any compliance failure could lead to facility suspensions.
Raw Material Price Volatility
Fluctuations in the availability or prices of active pharmaceutical ingredients (APIs) could affect operational profitability.
MUFG Intime India Private Limited
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