Pharmaceutical company Virupaksha Organics has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO). The proposed IPO of the Hyderabad-based company is entirely a fresh issue of equity shares, according to the draft red herring prospectus (DRHP) filed on Monday. The company may consider raising Rs 148 crore in a pre-IPO placement round. If such placement is undertaken, then the issue size will be reduced. Virupaksha proposes to utilise proceeds of the fresh issue to the tune of Rs 360 crore towards funding capital expenditure requirement for capacity expansion, Rs 195 crore earmarked for payment of debt and the balance towards general corporate purposes. Virupaksha Organics is a research and development (R&D) driven Indian pharmaceutical company engaged in the manufacturing of active pharmaceutical ingredients (APIs) and intermediates. As of March 31, 2025, it had a diversified portfolio of 54 products, ...
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