New Delhi, March 16 -- Allchem Lifescience, a Gujarat-based manufacturer specializing in active pharmaceutical ingredient (API) intermediates and specialty chemicals, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) seeking approval for an initial public offering (IPO).

The proposed IPO includes a fresh issue of equity shares totaling up to Rs.190 crore and an offer for sale (OFS) of 71.55 lakh equity shares by promoters Kantilal Ramanlal Patel and Manisha Bipin Patel.

The company plans to allocate Rs.130 crore from the fresh issue towards debt repayment, with the remaining funds used for general corporate purposes and to support business requirements.

Emkay Global Financial Services is the sole book-...