Virupaksha Organics gets SEBI nod for ₹740 crore IPO
Virupaksha Organics, based in Hyderabad, just got SEBI's approval to raise ₹740 crore through an all-fresh equity IPO.
The company filed its draft papers (DRHP) — filing date not specified in the source.
Who are they?
They're all about pharma innovation—developing and making active pharmaceutical ingredients (APIs) and intermediates.
They offer 54 products to over 550 customers in more than 100 countries, with six manufacturing units split between Hyderabad and Karnataka (date not specified in source).
How will they use the IPO proceeds?
Most of the IPO funds are set for expanding production capacity (₹360 crore), paying off debts (₹195 crore), and general business needs.
There's also a chance they'll do a pre-IPO placement up to ₹148 crore, which could trim the main offer size.
Financials and other details
In FY25, Virupaksha pulled in ₹811 crore revenue with ₹78 crore profit after tax.
Axis Capital and SBI Capital Markets are leading the IPO process.
The company will be listed alongside other pharma players like Supriya Lifescience and Divi's Laboratories.