We cannot locate the brand name Lipiguard either in Indian or International drug database of reputed, quality manufacturers of medicines. The nearest is Lipicard that contains fenofibrate. Assuming that you are referring to Lipicard (or Lipiguard), which contains fenofibrate, its major side effect is on liver. Hence it is mandatory to check SGOT/SGPT levels every three months. If the value of either of the two tests goes beyond 100 IU, the medicine should be stopped. Also if there is any muscle pain, the same should be urgently reported to the doctor.
There is no drug-drug interaction between fenofibrate and Zyloric (chemical name: allopurinol). Hence you can take Zyloric without any problem.