Hyderabad-based pharmaceutical firm Virupaksha Organics has filed its draft red herring prospectus (DRHP) with SEBI, aiming to raise ₹740 crore through an initial public offering entirely via fresh equity issuance.
The company is also considering a pre-IPO placement of up to ₹148 crore, which—if executed—would reduce the fresh issue size accordingly. Proceeds from the offer are earmarked for capacity expansion and capital expenditure (₹360 crore), debt repayment (₹195 crore), and general corporate purposes.
In FY25, Virupaksha reported revenue of ₹811 crore and a profit after tax of ₹78 crore. As of March 2025, its product portfolio spans 54 items—23 APIs and 31 intermediates—serving over 550 customers across more than 100 countries. The company currently operates six manufacturing sites, with four facilities in Hyderabad and two in Humnabad, Karnataka.
Virupaksha’s operations span small molecule APIs, key starting materials (KSMs), intermediates, and contract development and manufacturing (CDMO) services. Its portfolio covers multiple therapeutic areas including analgesics, antifungals, anti-diabetics, antidepressants, anti-asthmatics, and anti-ulceratives.
The company counts industry peers such as Supriya Lifescience, Alivus Life Sciences, Divi’s Laboratories, Laurus Labs, Aarti Drugs, and Neuland Labs. Axis Capital and SBI Capital Markets have been appointed as the book-running lead managers (BRLMs) for the IPO.
With this public issue, Virupaksha aims to strengthen its balance sheet, enhance manufacturing capacity, and capture opportunities in the growing domestic and international API markets.