Pharmaceutical ingredients maker SPC Life Sciences Ltd has received capital markets regulator Sebi's go ahead to raise funds through an initial public offering (IPO). The IPO consists of fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter -- Snehal Rajivbhai Patel -- according to the draft red herring prospectus. The company may consider a pre-IPO placement aggregating up to Rs 60 crore and if such a placement is completed, then the fresh issue size will be reduced.
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