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

By: |
September 02, 2021 5:14 PM

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.

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.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 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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Electronics Mart India files Rs 500-crore IPO papers with Sebi
2Hariom Pipe Industries files IPO papers with Sebi
3Paras Defence IPO subscribed 32 times so far on day 2; grey market premium rallies 130%; should you subscribe?