Supriya Lifescience Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,200 crore through an initial public offering (IPO).

The IPO comprises fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to Rs 1,000 crore by its promoter Satish Waman Wagh, according to the draft red herring prospectus (DRHP).

Proceeds from the fresh issue will be used for funding capital expenditure requirements, repay debt and general corporate purpose.

Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceuticals ingredients (APIs), with a focus on research and development.

As of March, 2021, the company had product offerings of 39 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.

ICICI Securities and Axis Capital have been appointed as merchant bankers to advise the company on the IPO.