Review of Windlas Biotech IPO.

 IPO is looking good

Some positive of companies are

1. The company is among top 5 players in domestic pharmaceutical formulation contract development and manufacturing organization(CDMO).
2. The projected growth of CDMO is 14% from Fy 20 to Fy25 as per CRISIL.com
3. Earning and profits are positive in the last three financials
4. Debt to Equity ratio is 0.157 which is not bad.
5. No listed peers in NSE/BSE.
6. Cash flow from operation is positive in last three financials though net cash flow in FY21 is negative but enjoys positive net cash flow in FY20 & FY19

Keep one thing in mind that see how many times it is subscribed if subscription is in good numbers you may go for it, it may or may not give listing gains. Company can do good in upcoming years.

This is just my view I am not a sebi registered agent. 

Comment below if you have any questions or suggestions...