Aragen Life Sciences files DRHP for ₹800 cr fresh issue
Aragen Life Sciences has filed a Draft Red Herring Prospectus with SEBI for an IPO consisting of an ₹800 crore fresh issue and an offer for sale. The company intends to use the proceeds to repay debt and fund capital expenditure at its Hyderabad and Bengaluru facilities.
Why it matters
The IPO reflects ongoing growth and capital-raising activities within India's pharmaceutical and contract research sector.
Contract research, development and manufacturing organisation (CRDMO) Aragen Life Sciences has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed IPO comprises a fresh issue of ₹800 crore and an offer for sale (OFS) of up to 27,329,192 equity shares, with a face value of ₹10 each, by existing selling shareholders.
The company plans to utilise the proceeds from the fresh issue primarily towards the repayment and/or pre-payment of borrowings. A portion of the funds will also be deployed towards capital expenditure for the purchase of new equipment and machinery at its facilities in Hyderabad.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in