Overview

• Hyderabad-based API maker seeks to raise Rs 740 crore through a fresh equity issue, according to its draft red herring prospectus.
• An optional pre-IPO placement of up to Rs 148 crore may be undertaken, which would reduce the public issue size.
• Axis Capital and SBI Capital Markets have been appointed as book-running lead managers for the maiden offering.
• The company reported FY25 revenue of Rs 811 crore and profit after tax of Rs 78 crore, operating six plants across Hyderabad and Humnabad.
• Its portfolio spans 54 products serving 550-plus customers in over 100 countries, with a cited F&S report projecting the Indian API market at Rs 600 crore by 2029.