Virupaksha Organics to raise Rs 740-cr via IPO

Virupaksha Organics Limited, a research and development (R&D) driven Indian pharmaceutical company engaged in the manufacture of active pharmaceutical ingredients (APIs) and intermediates, has received SEBI’s go-ahead to raise Rs740 crore through an initial public offering (IPO).

The company proposes to utilize Rs360 crore from the net proceeds of the fresh issue towards funding capital expenditure requirement for capacity expansion and Rs195 crore for prepay-ment of all or a portion of certain outstanding borrowings.

The company, which filed its draft prospectus with SEBI in September 2025, obtained its ob-servations on February 12, as per the update with the capital markets regulator. In the context of the IPO, receiving SEBI’s observations is equivalent to its go ahead to proceed with the public issue.

It also has a contract development and manufacturing (CDMO) business, leveraging its R&D and manufacturing capabilities to provide CDMO services to third-party manufacturers. As of March 31, 2025, it had a diversified portfolio of 54 products, comprising 23 APIs and 31 inter-mediates, serving more than 550 customers in over 100 countries.