Aragen Life Sciences, a leading contract research, development and manufacturing organisation (CRDMO), has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering (IPO), comprising a fresh issue of Rs. 800 crore and an offer for sale (OFS) of up to 27,329,192 equity shares.

The company plans to use proceeds from the fresh issue primarily for repayment or pre-payment of borrowings, capital expenditure at its Hyderabad facilities.

It will also invest in new equipment and machinery at the Bengaluru facility of its material subsidiary, Aragen Biologics Private Limited. A portion will also be used for general corporate purposes.

Aragen served 591 customers globally in FY2026, including 16 of the world's top 20 Big Pharma companies. Its customer base spans large pharmaceutical companies, biotechnology firms and mid-sized companies across pharmaceuticals, biotechnology, animal health, agrochemicals and specialty chemicals.

The company began its CRO operations in 2002 and has developed the second-largest CRO solutions platform in India by scientific personnel among assessed peers. 

Aragen reported continued growth in FY2026, with revenue from operations, profit for the year, adjusted EBITDA and adjusted profit increasing at CAGRs of 14.64%, 26.86%, 15.63% and 29.91%, respectively, between FY2024 and FY2026.

For FY2026, revenue from operations stood at Rs. 21,783.92 million (approximately Rs. 2,178 crore), while profit for the year was Rs. 2,576.44 million. Adjusted EBITDA stood at Rs. 5,937.65 million and adjusted profit at Rs. 2,839.85 million.