India, Aug. 27 -- image credit- freepik

Aragen Life Sciences, a leading contract research, development and manufacturing organisation (CRDMO), has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO).

The IPO comprises a fresh issue of Rs 800 crore and an offer for sale (OFS) aggregating up to 27,329,192 equity shares of face value of Rs 10 each by selling shareholders.

The proceeds from the fresh issue are proposed to be utilised towards the repayment and/or pre-payment of borrowings; capital expenditure to be incurred by the company for purchase of new equipment and machinery for the company's facilities in Hyderabad; capital expenditure to be incurred by one of the company's material subsidiar...