Windlas Biotech hits new low since listing; falls 16% against issue price

The stock was trading lower for the third straight day since listing

Shares of Windlas Biotech (WBL) extended their decline and were trading lower for the third straight day since listing. In the intra-day trade on Wednesday, the shares dropped 4 per cent at Rs 385.50 on the BSE, and are down 16 per cent from its issue price of Rs 460 per share. The stock of the pharmaceutical company had debuted on Monday, August 16, 2021. 

The company had raised Rs 402 crore through initial public offer (IPO) and proposed to utilize the funds to purchase equipment required for the capacity expansion of its existing facility at Dehradun Plant IV.