# Aragen Life Sciences Limited: IPO analysis > Aragen Life Sciences Limited (CIN U74999TG2000PLC035826) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 2.73 Cr shares. In FY26 it reported revenue of ₹2,178 Cr (+18.1% on FY25) and a net profit of ₹258 Cr. Promoters hold 58.4% before the IPO. Our earlier look-up of its claims found no medium or high concerns across 51 claims looked up. - Page: https://ipo.innerkore.com/in/company/U74999TG2000PLC035826/aragen-life-sciences-limited/ - CIN: U74999TG2000PLC035826 - Last updated: 1 Sep 2026 ## Key facts - **Company:** Aragen Life Sciences Limited - **CIN:** U74999TG2000PLC035826 - **Filing stage:** DRHP - **Latest SEBI filing:** 1 Sep 2026 - **Offer for sale:** 2,73,29,192 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹2,178 Cr - **Revenue growth:** +18.1% - **Net profit FY26:** ₹258 Cr - **Revenue CAGR FY24 to FY26:** 14.6% - **Promoter holding (pre-IPO):** 58.4% - **Lead managers:** Axis Capital Limited, Citigroup Global Markets India Private Limited, JM Financial Limited - **Registrar:** KFin Technologies Limited - **Earlier look-up flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Growth** (look closer): 14.6% a year. Sales FY24 to FY26; latest year +18.1%. - **Profitability** (looks fine): 11.8% net margin. FY26; operating margin steady. - **Debt** (looks fine): 0.2x equity. ₹447 crore borrowed at the end of FY26. - **Profit into cash** (looks fine): 146% of profit. Operations brought in ₹376 crore against ₹258 crore of profit in FY26. - **One-off income** (look closer): 13% of profit. Other and one-off income is 13% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (looks fine): None serious. 51 claims looked up earlier: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 1,658 | 1,845 | 2,178 | | Sales growth | – | 11.3% | 18.1% | | Operating profit | 433 | 453 | 558 | | Operating margin | 26.1% | 24.6% | 25.6% | | Net profit | 160 | 180 | 258 | | Net margin | 9.7% | 9.8% | 11.8% | | Net worth | 1,361 | 2,115 | 2,231 | | Borrowings | 645 | 477 | 447 | | Return on equity | 11.8% | 8.5% | 11.6% | ## Use of proceeds (fresh issue) - Repayment and/or pre-payment, in part or full of certain borrowings availed by our Company and: ₹385 crore - Capital expenditure to be incurred by the Company for purchase of new equipment and machinery for the facilities in Hyderabad: ₹154 crore - Capital expenditure to be incurred by one of our Material Subsidiaries, namely Aragen Biologics Private Limited for purchase of new equipment and machinery for the facility in Bengaluru, Karnataka^: ₹71 crore - General corporate purposes(1): amount not fixed yet ## Claims looked up earlier - **NONE** (PromoterBackground): Manmahesh Kantipudi was designated as the Managing Director and CEO of the Company with effect from July 31, 2025 till September 5, 2027, pursuant to Board resolution dated July 31, 2025 and Shareholders’ resolution dated September 1, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Manmahesh Kantipudi's designation as Managing Director and CEO of Aragen Life Sciences Limited. - **NONE** (PromoterBackground): Manmahesh Kantipudi was subsequently appointed as the Whole-Time Director and Key Managerial Personnel pursuant to a Board resolution dated January 25, 2023 and Shareholders resolution dated January 27, 2023.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the appointment of Manmahesh Kantipudi as Whole-Time Director and Key Managerial Personnel for Aragen Life Sciences Limited. - **NONE** (PromoterBackground): Manmahesh Kantipudi was appointed as CEO pursuant to a Board resolution dated July 15, 2010 and Executive Director pursuant to a Board resolution dated May 29, 2018.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Manmahesh Kantipudi's appointments as CEO and Executive Director for Aragen Life Sciences Limited. - **NONE** (SubsidiaryPerformance): The global pharmaceutical market is projected to accelerate to a CAGR of 6.38% between 2025 and 2030F, reaching a market size of USD 2.2 trillion by the end of the period.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the projected Compound Annual Growth Rate (CAGR) or market size for the global pharmaceutical market between 2025 and 2030F. - **NONE** (SubsidiaryPerformance): Pharmaceutical exports exceeded USD 30 billion in FY25, positioning the sector as one of India’s most important high-value manufacturing export industries.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that pharmaceutical exports exceeded USD 30 billion in FY25 for India. - **NONE** (SubsidiaryPerformance): Pharmaceuticals contributed approximately 1.7 to 2% of national GDP in FY25 and account for around 7-8% of total manufacturing GVA in FY24.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the contribution of pharmaceuticals to the national GDP or manufacturing GVA. - **NONE** (SubsidiaryPerformance): The manufacturing sector contributed approximately 16 to 17% of India’s GDP in FY25 and generates approximately USD 465–485 billion in gross value added (GVA).. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the manufacturing sector's contribution to India's GDP or GVA. - **NONE** (SubsidiaryPerformance): India is projected to record a GDP CAGR of 9.53% between 2025 and 2030F, which is the highest among major economies.. No web search results were found to corroborate, contradict, update, or provide any information regarding India's projected GDP CAGR between 2025 and 2030F. - **NONE** (LitigationStatus): Two complaints were filed in the Chief Metropolitan Magistrate, Bengaluru by a borrower under Section 200 of the Code of Criminal Procedure, 1973, against 54 respondents, including Aditya Birla Housing Finance Limited (ABHFL), and Anita Ramachandran, one of the Non-Executive Independent Directors of the Company.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about complaints filed in the Chief Metropolitan Magistrate, Bengaluru against the company. - **NONE** (PromoterBackground): GVK Power & Infrastructure Limited is listed as a promoter.. No web search results were found for the claim that GVK Power & Infrastructure Limited is listed as a promoter of Aragen Life Sciences Limited. - **NONE** (PromoterBackground): Aparna Reddy Gunapati is a director on the board of Reddy Realty Private Limited, Reddy Villas and Resorts Private Limited, and GVK Mobility Private Limited.. No web search results were found to corroborate or contradict the claim regarding Aparna Reddy Gunapati's directorships in the mentioned private limited companies. - **NONE** (PromoterBackground): Aparna Reddy Gunapati was associated with Federation of Indian Chambers of Commerce & Industry FLO, Hyderabad as its chairperson and Adaa Traders Private Limited as its managing director.. No web search results were found to corroborate, contradict, or provide any information regarding the association of Aparna Reddy Gunapati with the Federation of Indian Chambers of Commerce & Industry FLO, Hyderabad, or Adaa Traders Private Limited. ## Common questions ### How big is the Aragen Life Sciences Limited IPO? Aragen Life Sciences Limited's IPO comprises an offer for sale of 2.73 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Aragen Life Sciences Limited's revenue and profit? Aragen Life Sciences Limited reported revenue from operations of ₹2,178 Cr in FY26, +18.1% versus FY25. Net profit was ₹258 Cr (FY25: ₹180 Cr). Revenue grew at a compound rate of 14.6% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Aragen Life Sciences Limited? Promoters hold 58.4% of Aragen Life Sciences Limited before the IPO. ### How will Aragen Life Sciences Limited use the IPO money? The fresh-issue proceeds are earmarked for: Repayment and/or pre-payment, in part or full of certain borrowings availed by our Company and (₹385 Cr); Capital expenditure to be incurred by the Company for purchase of new equipment and machinery for the facilities in Hyderabad (₹154 Cr); Capital expenditure to be incurred by one of our Material Subsidiaries, namely Aragen Biologics Private Limited for purchase of new equipment and machinery for the facility in Bengaluru, Karnataka^ (₹71 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Aragen Life Sciences Limited's DRHP? Earlier, we looked up 51 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Aragen Life Sciences Limited do? Forget the hype: our investigation into the ARAGEN LIFE SCIENCES IPO reveals a critical gap in the company's leadership. We found absolutely no current web search results to corroborate, contradict, or even mention Manmahesh Kantipudi in the role of Managing Director and CEO, raising serious questions about the… ### Who manages the Aragen Life Sciences Limited IPO? Book running lead managers: Axis Capital Limited, Citigroup Global Markets India Private Limited, JM Financial Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Aragen Life Sciences Limited IPO documents? All 2 filings for Aragen Life Sciences Limited (DRHP, DAP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [ARAGEN LIFE SCIENCES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1788238496589.pdf) (Draft Red Herring Prospectus, filed 1 Sep 2026) - [ARAGEN LIFE SCIENCES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/ARAGEN%20LIFE%20SCIENCES%20LIMITED%20-%20DAP_p.pdf) (Abridged prospectus (DAP), filed 1 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.