Generic drug maker Hindustan Laboratories has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), according to regulatory filings.
The proposed IPO comprises a fresh issue of 50 lakh equity shares and an offer for sale (OFS) of 91 lakh shares by the company’s sole promoter, Rajesh Vasantray Doshi, taking the total issue size to 1.41 crore shares. As per the draft red herring prospectus, the company plans to utilise ₹72.5 crore from the fresh issue proceeds to meet working capital requirements, while the remaining funds will be used for general corporate purposes. Choice Capital Advisors has been appointed as the book-running lead manager for the proposed IPO.
Incorporated in 2017, Mumbai-based Hindustan Laboratories is an Indian pharmaceutical company primarily engaged in the large-scale manufacturing and supply of generic medicines. The company operates largely under a business-to-government (B2G) model, supplying medicines to central government programmes under the Ministry of Health and Family Welfare through Government of India agencies, as well as to state government agencies and public bodies.
During the six months ended September 30, 2025, Hindustan Laboratories supplied its products across 27 states and Union Territories. Its product portfolio spans multiple therapeutic segments addressing both acute and chronic healthcare needs, including anti-allergic, anti-diabetic, anti-infective, anti-malarial, antiparasitic, blood-related, cardiac, gastrointestinal, respiratory, pain and analgesic therapies, along with nutritional, mineral and vitamin supplements.
