Infinion Biopharma files draft papers with Sebi to mop-up funds through IPO

PTIUpdated: Thursday, September 02, 2021, 07:00 PM IST
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The initial public offering (IPO) comprises the sale of 45 lakh equity shares of Infinion Biopharma/ Representational image |

Infinion Biopharma has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share sale.

The initial public offering (IPO) comprises the sale of 45 lakh equity shares of Infinion Biopharma, draft red herring prospectus (DRHP) filed with Sebi showed.

The company may consider a pre-IPO placement of up to 7 lakh equity shares.

Proceeds from the IPO will be used towards investment in Mobius Biomedical Inc, acquisition of licenses for product development of skincare and women's health products and working capital requirements.

In addition, funds will be used for sales, marketing and distribution expenses for setting up the company's geographical reach and for general corporate purposes.

Infinion Biopharma is an innovation-driven life sciences company that combines biophysics and engineering with traditional pharmacology and biochemistry to produce high-value, innovative products across a range of therapeutic areas.

Aryaman Financial Services is the sole book-running lead manager to the issue.

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