IPO Papers of Olcame Life Sciences Files with Sebi; The target is to raise 190-CR RS by fresh issue

Drug maker Alchem ​​LifeSines have introduced initial papers with markets regulator Sebi seeking permission to collect funds through the initial public offering running (IPO). The proposed IPO of Gujarat -based company includes equity shares, which accumulate up to Rs 190 crore and offer 71.55 lakh equity shares (OFS) by the promoters, according to the draft Red Harring Prospectus (DRHP).

Kantilal Raman Lal Patel and Manisha Bipin Patel are the sellers of the shares in the OFS.

Currently, promoters and promoter group entities account for 100 % stake in the company.

In its draft papers filed on Friday, the Olcame LifeScinance proposes to use income from the latest issue worth Rs 130 crore towards debt payments, while one part will be used for general corporate purposes as well as to support the company’s business requirements.

Included in 2017, the alkem vitality is an Indian manufacturer of active pharmaceutical components (APIs) mediators and specialty chemicals.

It specializes in the production of key preliminary materials (KSMS), generic API mediation and specialty chemicals.

The company is the main player in the production of piperazine derivatives, which is a crucial raw material for the production of APIs such as Quetipine, which is used in the treatment of schizophrenia and bipolar disorders.

Over the years, the alkam lifestyle has developed the ability to create 263 products that show their strong focus on various chemistry in organic chemical compounds.

The focus of the company is to identify the potential demand for the products, in particular, products that are difficult to create in India or that import substitute is not easily available, develop such products and scale up the product after demand.

Vadodara, Gujarat, has a company production facility.

Leading domestic and international customers, including alambic pharmaceuticals, bond chemicals, indoco remedies, micro labs, MSN laboratories, Nagaz India, Neogen Chemicals, Newuland Laboratories and Unichem Laboratories.

As of December 2024, the company served customers in 13 states of India and 22 countries abroad. By FY 24, there were 148 customers in India and 66 customers abroad.

On the financial front, the company’s income from operations increased at the annual growth rate (CAGR) of 12.75 per cent between the financial year 22 and the fiscal year 24. The six -month revenue figures ended September 30, 2024 were Rs 7.84 crore.

In addition, the post -tax profit (PAT) rose on CAGR of 28.65 percent from March 31, 2022 to March 31, 2024. The six -month PT figures ended September 2024 were Rs. 1.09 crore.

Amk Global Financial Services is the lead managers running the only book on this issue.