IPO Watch, March 14 -- Allchem Lifescience Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

Founded in 2017, Allchem Lifescience is an Indian producer of active pharmaceutical ingredients (API) intermediates and specialty chemicals. The firm focuses on creating key starting materials (KSMs), generic API intermediates, and specialty chemicals. It plays a significant role in the manufacture of piperazine derivatives, essential raw materials for the production of APIs such as Quetiapine. As of December 2024, the company boasts a reaction volume of 1,134 KL and a hydrogenation capacity of 60 KL, ranking it among th...