Ahmedabad-based Claris Lifesciences, one of the largest sterile injectables companies in the country, today said it planned to raise around Rs 300 crore through an initial public offering. The offer opens on Wednesday and closes on Friday. Claris would use the proceeds to prepay a term loan, expand manufacturing facility, and set up a research and development facility.
In April, Claris had filed the draft red herring prospectus with the Securities and Exchange Board of India for listing on the Bombay Stock Exchange and the National Stock Exchange by Diwali.
The proposed IPO could provide an opportunity to Carlyle Group to exit Claris. The US-based private equity company had acquired about 15 per cent in Claris for Rs 90 crore in 2006.