Hindustan Laboratories, an Indian manufacturer of generic pharmaceutical formulations, has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO).

According to the draft red herring prospectus, the proposed IPO comprises a fresh issue of equity shares along with an offer for sale by existing shareholders. Proceeds from the fresh issue are proposed to be utilised primarily for working capital requirements and general corporate purposes.

Hindustan Laboratories is engaged in the large-scale manufacturing and supply of generic medicines, largely operating under a business-to-government (B2G) model. The company supplies pharmaceutical products to central and state government institutions through tenders and procurement contracts. Its distribution network spans multiple states and Union Territories across India.

The company’s product portfolio covers a wide range of therapeutic segments, including anti-diabetic, anti-infective, anti-allergic, anti-malarial, antiparasitic, cardiac, gastrointestinal, respiratory and pain management therapies, along with nutritional and vitamin supplements.

By entering the capital markets, Hindustan Laboratories aims to strengthen its financial position, support operational growth, and enhance its presence in India’s expanding generic pharmaceutical manufacturing landscape.