The IPO comprises a fresh issue of equity shares aggregating up to ₹190 crore
Allchem Lifescience Limited, a homegrown manufacturer of active pharmaceutical ingredient (API) intermediates and specialty chemicals, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).
The IPO comprises a fresh issue of equity shares aggregating up to ₹190 crore and an offer for sale (OFS) of up to 7,155,000 equity shares. The equity shares carry a face value of ₹10 each.
As part of the OFS, promoters Kantilal Ramanlal Patel and Manisha Bipin Patel will offload up to 3,577,500 equity shares each, reducing their stake in the company.
Emkay Global Financial Services Limited is acting as the sole Book Running Lead Manager (BRLM) for the public issue.
Allchem Lifescience operates in a key segment of the pharmaceutical supply chain, producing high-value intermediates and specialty chemicals used in the manufacture of APIs.
