Intas Pharmaceuticals said it was raising 3 billion rupees ($57 million) from private equity firm ChrysCapital ahead of its initial public offering. The Ahmedabad-based company said the funds will be used to expand operations and retire part of its debt. Intas will look at launching its IPO, for which it has got approval from the regulator, only next year because of market volatility, Vice-Chairman and Managing Director Binish Chudgar said. ChrysCapital, which holds 11.3 per cent in the company, will increase its holding.