Virupaksha Organics to file ₹740 crore IPO
Virupaksha Organics, a Hyderabad-based pharma company, is looking to raise ₹740 crore through an IPO and might add another ₹148 crore via a pre-IPO placement (which would shrink the main IPO size).
Most of the money will go into expanding their manufacturing capacity and paying off debt, with some set aside for general corporate needs.
The company in numbers
Founded in 1997, Virupaksha makes active pharmaceutical ingredients (APIs) and intermediates—basically the core stuff that goes into medicines.
As of March 31, 2025, they offer 54 products to over 550 customers in more than 100 countries.
The company operates six manufacturing units, with four located in Hyderabad, Telangana and two in Humnabad, Karnataka, pulling in ₹811 crore revenue and ₹78 crore profit after tax in FY25.
API market and competition
India's API market is on track to hit ₹600 crore by 2029 thanks to rising demand for generic drugs, expanding domestic pharmaceutical consumption, and government initiatives like the PLI scheme.
Virupaksha competes with names like Divi's Labs and Laurus Labs.
Axis Capital and SBI Capital Markets are managing the IPO process.