Aragen Life Sciences IPO

Aragen Life Sciences Limited IPO is a book-building issue consisting of a fresh issue of ₹800.00 crore and an offer for sale of up to 2.73 crore equity shares.

The equity shares are proposed to be listed on NSE and BSE. Axis Capital Limited is the book-running lead manager, and KFin Technologies Limited is the registrar of the issue. Key details, such as IPO dates, price bands, and lot size, are yet to be announced.

About Aragen Life Sciences Limited

Aragen Life Sciences Limited was originally incorporated as GVK Biosciences Private Limited on December 7, 2000, under the Companies Act, 1956, in Hyderabad, Andhra Pradesh. The company changed its name to Aragen Life Sciences Private Limited on December 16, 2020. Subsequently, it was converted into a public limited company and renamed Aragen Life Sciences Limited, with a fresh certificate of incorporation issued on March 28, 2023. The company is headquartered in Hyderabad, Telangana, and operates as a Contract Research, Development and Manufacturing Organisation (CRDMO), providing integrated services to pharmaceutical, biotechnology, and other life sciences companies.

The company offers services across the drug development value chain through its Contract Research Organisation (CRO) and Contract Development and Manufacturing Organisation (CDMO) businesses. Its CRO services include drug discovery, preclinical research, biology, medicinal and synthetic chemistry, molecular biology, antibody discovery, protein sciences, DMPK, pharmacology, and biosafety assessment.

Its CDMO business provides process research, development, analytical services, and manufacturing capabilities for small molecules and biologics, supporting customers from early-stage development to commercial manufacturing. Aragen has more than 25 years of experience in the life sciences industry. It commenced its CRO business in 2002 and expanded its capabilities into biologics in 2014.

Its integrated service portfolio covers small molecules, biologics, peptides, oligonucleotides, nucleic acid chemistry, PROTACs, lipids, and antibody-drug conjugates (ADCs). The company also provides gene-to-GMP biologics development capabilities, covering cell line development, process development, and manufacturing.

As of March 31, 2026, the company served 591 customers globally, including large pharmaceutical companies, emerging biotechnology companies, and mid-sized pharmaceutical businesses. Its customers operate across pharmaceuticals, biotechnology, animal health, agrochemicals, and specialty chemicals. During the same period, the company had worked with 16 of the world's 20 largest pharmaceutical companies.

Aragen operates six facilities across India and the United States, covering a total area of approximately 2 million square feet. Its facilities are located in Hyderabad, Bengaluru, Visakhapatnam, Pune, and Morgan Hill, California. These facilities include discovery research and development laboratories, development and manufacturing facilities, and a GLP-compliant biosafety assessment facility. The company also maintains regional offices in India, the Netherlands, and the United States, along with sales personnel in China, Japan, Germany, and Switzerland.

As of March 31, 2026, Aragen employed 4,362 people, including 3,412 scientific personnel and 479 PhD holders. During Fiscal 2026, the company supported more than 100 preclinical, clinical, and commercial programmes.

Its facilities hold accreditations and certifications from several international and domestic regulatory bodies, including the US Food and Drug Administration (USFDA), European Directorate for the Quality of Medicines and HealthCare (EDQM), Pharmaceuticals and Medical Devices Agency (PMDA), Ministry of Food and Drug Safety (MFDS), Agência Nacional de Vigilância Sanitária (ANVISA), World Health Organization (WHO), National Accreditation Board for Testing and Calibration Laboratories (NABL), and Central Drugs Standard Control Organisation (CDSCO).

Industry Outlook

• The global pharmaceutical contract services market covers research, development, and manufacturing activities outsourced by pharmaceutical and biotechnology companies to specialised service providers. The market is projected to grow from approximately USD 698 billion in 2025 to USD 854 billion by 2030, registering a CAGR of 4.12%.
• Contract Research Organisations (CROs) primarily provide services across drug discovery, preclinical research, and clinical development, while Contract Development and Manufacturing Organisations (CDMOs) focus on process development, formulation, scale-up, and commercial manufacturing. These service providers enable pharmaceutical companies to access specialised expertise, advanced technologies, and regulatory capabilities without building the entire infrastructure in-house.
• Rising drug development costs, increasing scientific complexity, stringent regulatory requirements, and pressure to improve research productivity are driving pharmaceutical and biotechnology companies to outsource more activities. Outsourcing helps companies improve operational efficiency, accelerate development timelines, optimise capital allocation, and focus on core research and innovation activities.
• The global CRO market was valued at approximately USD 28 billion in 2025 and is expected to reach USD 45 billion by 2030, growing at a CAGR of 9.58%. Meanwhile, the global CDMO market was valued at approximately USD 139 billion in 2025 and is projected to reach USD 206 billion by 2030, registering a CAGR of 8.16%.
• The global CRDMO market is witnessing a shift towards integrated outsourcing models, wherein a single service provider offers solutions across drug discovery, development, and commercial manufacturing. The market is projected to grow from USD 167 billion in 2025 to USD 251 billion by 2030, at a CAGR of 8.41%. Integrated CRDMOs help reduce coordination complexities, minimise technology transfer risks, and improve efficiency across the drug development lifecycle.

Aragen Life Sciences IPO Objectives

The Company proposes to utilise the Net Proceeds from the Issue towards the following objectives:

• Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company.
• Towards capital expenditure to be incurred by the Company.
• Towards general corporate purposes.

Financial Performance of Aragen Life Sciences Limited

Aragen Life Sciences Limited Peer Details Comparison