Allchem Lifescience's IPO: A Giant Leap in API Manufacturing

Allchem Lifescience has filed for an IPO with Sebi to raise Rs 190 crore. The company plans to use Rs 130 crore from fresh equity for debt repayment and other purposes. Founded in 2017, it is a key manufacturer of API intermediates and specialty chemicals. The IPO includes a sale of equity by current promoters.

Drug maker Allchem Lifescience has initiated the process of launching an IPO by filing preliminary papers with markets regulator Sebi. The IPO aims to generate up to Rs 190 crore, featuring a fresh issue of equity shares and an offer for sale by existing promoters.

The Gujarat-based company plans to allocate Rs 130 crore from the fresh equity issue for debt repayment, while the remaining will support general corporate needs and business requirements. Allchem Lifescience, founded in 2017, specializes in manufacturing active pharmaceutical ingredients (API) and specialty chemicals.

The firm is known for producing piperazine derivatives, essential for certain APIs. With a diverse product portfolio catering to domestic and international clients, including notable pharmaceutical companies, Allchem Lifescience's financial growth has been robust, marking a strong trajectory ahead of its public offering.

(With inputs from agencies.)