Virupaksha Organics Sets Sights on Rs 740 Crore IPO to Fuel Expansion and Innovation
Hyderabad's Virupaksha Organics plans to raise Rs 740 crore through an IPO. The company aims to use the funds for capacity expansion, debt repayment, and general purposes. Specializing in APIs and intermediates, Virupaksha reported Rs 811 crore revenue in FY25. India's API market is projected to hit Rs 600 crore by 2029.
- Country:
- India
Virupaksha Organics, a leading pharmaceutical company based in Hyderabad, has submitted initial documents with Sebi for an Rs 740 crore IPO. This move highlights the firm's ambitions for growth and innovation in the competitive pharmaceutical industry.
The IPO will be a fresh issue of equity shares, as outlined in the draft red herring prospectus filed recently. Notably, the firm may conduct a pre-IPO placement to raise Rs 148 crore, potentially reducing the size of the public issue.
The proceeds from the offering are strategically planned for use in capacity expansion, debt repayment, and other corporate objectives, supporting Virupaksha's position as a major player in the active pharmaceutical ingredients market.
(With inputs from agencies.)
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