Aragen Life Sciences IPO: ₹800 Cr Fresh Issue Filed

Aragen Life Sciences has filed its Draft Red Herring Prospectus (DRHP) with Sebi for an Initial Public Offering (IPO) featuring a ₹800 crore fresh issue.

IPO Structure Details

• Fresh Issue: ₹800 crore
• Offer For Sale (OFS): Up to 27,329,192 equity shares

Proceeds from the fresh issue are slated for repaying or pre-paying existing borrowings. Funds will also cover capital expenditure, including new equipment for Hyderabad facilities and at its Aragen Biologics Private Limited Bengaluru facility.

Aragen’s Market Position

• Established: 2000
• Operates as: Integrated Contract Research, Development and Manufacturing Organisation (CRDMO)
• Largest Indian CRDMO by solutions breadth: as of March 31, 2026
• Rank: Among top three Indian CRDMOs by operating revenue
• Global CRDMO market estimate: $171 billion in fiscal 2026

The company serves 591 global customers, which include 16 of the top 20 Big Pharma companies. It focuses on new chemical entities (NCEs) and new biological entities (NBEs) across markets like the US, Europe, Japan, and India.

Operational Milestones

• CRO business launched: 2002
• Second-largest Indian CRO solutions platform by scientific personnel: as of March 31, 2026
• Biologics segment expansion: 2014 via acquisition
• One of only two Indian CRDMOs offering integrated small-molecule drug substance and drug product development services

As of March 31, 2026, Aragen employed 4,362 individuals, with 3,412 scientific personnel. Of these, 479 hold PhD degrees, resulting in a 14.04% PhD-to-scientific personnel ratio, the highest in the Indian CRDMO industry.

Financial Performance Highlights

• Revenue growth (fiscal 2025-2026): Second-highest among Indian peers
• Revenue from operations CAGR (fiscal 2025-2026): 14.64%
• Profit for the year CAGR (fiscal 2025-2026): 26.86%