The IPOs of Devyani International, which runs KFC and Pizz Hut, and Windlas Biotech, a pharmaceutical formulation company, became fully subscribed on the very first day itself. Devyani International’s IPO was oversubscribed within three hours of opening. Its IPO of Rs 1838 crore was opened today itself. On the other hand, Windlas Biotech’s IPO of Rs 401.53 crore was subscribed 1.28 times on the first day itself. Devyani International’s stock is selling at a premium of 66 per cent of Rs 90 in the gray market, while Windlas Biotech’s stock is selling at Rs 590 here. This is 28 percent more than its IPO price of Rs 460.
Devyani International’s operating margin improved
Devyani International has fixed a price band of Rs 86-90 per share. Investors have to bid in lots of 165 shares i.e. at least Rs 1485 as per the upper price of the price band. According to analysts at Angel Broking, Devyani International’s post issue FY2021 EV/Sales Jubilant Foodworks, Burger King India and Westlife is less than India. Devyani International has better operating margins as compared to Westlife Development and Burger King. According to Angel Broking, if the valuation of the company is at a reasonable level, then it can be subscribed.
New IPO: It is raining IPO, investors have a chance for three days to invest money in four companies
Windlas Biotech’s IPO strong?
Windlas Biotech is one of the top five companies in the Pharmaceuticals Formulation Contract Development and Manufacturing Organization (CDMO) industry. It has been involved in the development, licensing and development of complex generic products including generic products (drugs and nutracells) from product discovery to its development, licensing and sales. It also sells its over the counter and its own branded products. The company will use the capital raised from the IPO to purchase necessary equipment to increase the production capacity of the Dehradun-based factory. Windlas Biotech will be the first pharmaceutical formulation company which is going to be listed in the stock market.