Allchem Lifescience has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company’s proposed IPO comprises fresh issue of equity shares aggregating up to Rs 190 crore and an offer for sale (OFS) of 71.55 lakh equity shares by promoters.
The company proposes to utilise proceeds from the fresh issue worth Rs 130 crore towards debt payment, while a portion will be used for general corporate purposes as well as to support the business requirements of the company. Emkay Global Financial Services is the sole book-running lead managers to the issue.
Incorporated in 2017, Allchem Lifescience is an Indian manufacturer of active pharmaceutical ingredients (API) intermediates and speciality chemicals. It specialises in the production of key starting materials (KSMs), generic API intermediates and specialty chemicals.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
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