Hyderabad-based contract research, development and manufacturing organisation Aragen Life Sciences, formerly known as GVK Biosciences, has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi for its initial public offering (IPO). The proposed IPO comprises a fresh issue of around ₹800 crore and an offer for sale of up to 27,329,192 equity shares of face value ₹10 by existing shareholders. According to the filing, the GVK Group company plans to use the proceeds from the fresh issue for repayment or prepayment of borrowings, purchase of equipment and machinery for its Hyderabad facilities, capital expenditure at subsidiary Aragen Biologics' Bengaluru facility, and general corporate purposes. The company reported a profit of ₹257.6 crore in FY26.