Virupaksha Organics Limited, a pharmaceutical company engaged in the manufacture of active pharmaceutical ingredients (APIs) and intermediates, has received the Securities and Exchange Board of India’s (SEBI) go-ahead to raise ₹740 crore through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares, according to the draft red herring prospectus (DRHP) submitted by the company.
The Hyderabad-based company proposes to utilise ₹360 crore from the net proceeds for funding capacity expansion. A part of the proceedings (₹195 crore) would be used for prepayment of all or a portion of outstanding borrowings, it said.
The company manufactures products across diverse therapeutic areas of anti-histamines, analgesics, anti-fungals, anti-diabetics, anti-depressants, anti-asthmatics, anti-tussives, anti-anginals, antihypercholesterolemics and anti-ulceratives.
It has six manufacturing units, with four located in Hyderabad, Telangana and two in Humnabad (Karnataka). It also runs a contract development and manufacturing (CDMO) business for third-party manufacturers.
The company reported revenue from operations of ₹811 crore and a profit after tax (PAT) of ₹78 crore in 2024-25.
Source : Thehindubusinessline
