IPO alert: Windlas Biotech files draft papers for IPO Representational image/IPO Windlas Biotech Ltd has filed preliminary papers with markets regulator Sebi for an initial public offer that includes a fresh issue of Rs 165 crore. Besides the fresh issue, there will be an offer for sale of shares. The company is into domestic pharmaceutical formulations contract development and manufacturing business. According to the Draft Red Herring Prospectus (DRHP), the company will also consider a pre-IPO (Initial Public Offer) placement of up to Rs 50 crore. The proposed offer includes fresh issue of Rs 165 crore and an offer for sale of up to 5,142,067 equity shares. The latter will comprise "up to 1,136,000 equity shares by the individual selling shareholder and up to 4,006,067 equity shares by the investor selling shareholder", as per the document.