Virupaksha Organics IPO

IPO Overview

Virupaksha Organics IPO is a 100% book-built offering, comprising a fresh issue worth up to ₹740 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on September 29, 2025.

The price band and official dates of listing and subscription will be announced by the company later, but the shares are intended to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) of this issue are Axis Capital Ltd. and SBI Capital Markets Ltd., while the registrar to the issue is Kfin Technologies Ltd.

Company Background

Virupaksha Organics Ltd., incorporated in 1997 in Hyderabad, began as a modest chemical manufacturer. Over the last 28 years, they have undergone a profound transformation and become a research-oriented organisation composed of professionals from various fields dedicated to the application of pharmaceutical science.

The main goal is to create high-quality active pharmaceutical ingredients (APIs) and their intermediates, which are essential for the healthcare industry. From their roots in Hyderabad, they expand all over India, building deep and strong relationships with the global pharmaceutical giants who trust Virupaksha Organic for the essential building blocks of their medicine.

Operations & Product Range

The core operations of Virupaksha Organics Ltd. involve the manufacturing of APIs across various therapeutic segments, which include anti-histamine, anti-fungal and anti-diabetic treatments, among others. The company serves organic facilities and meets global health needs by providing raw pharmaceutical materials that eventually reach patients as finished dosage forms. By serving a diverse range of customers, ranging from the large domestic pharmaceutical firms to the international healthcare companies. Their business model relies on technical expertise in organic chemistry and the ability to manufacture complex molecules at scale.

Facilities & Capacity

Virupaksha Organics Ltd. operates 6 manufacturing facilities located in Telangana and Karnataka, with an aggregate of 223 reactors and a total reactor volume of 988 KL, as of FY25. These facilities are engaged with versatile reactor systems that must be capable of handling a wide range of chemical reactions. With this upcoming IPO, the company plans to establish a new manufacturing unit in Andhra Pradesh, which is intended to significantly boost the company's output and help meet the rising global demand for its products.

Brands & Market Presence

Virupaksha Organics Ltd. maintains several quality certifications required to operate in highly regulated markets, which makes its market presence remarkable. The company's revenue from outside India contributed 17.49%, 26.14%, and 32.92% of total revenue from operations for FY2025, FY2024, and FY2023, respectively. The main focus of the Virupaksha brand is on delivering high-quality products while maintaining its rigid standards and meeting the highest global standards, ensuring the safety and welfare of the people and the planet.

Revenue Streams & Business Model

Virupaksha Organics Ltd.'s revenue generation is from the sale of APIs and pharmaceutical intermediaries; their earnings are geographically diversified, with a near-even split between Indian sales and international exports. This model provides stability and access to high-margin opportunities in regulated foreign markets. For FY25, this company has maintained its growing revenue from operations Y-O-Y, as in FY25 it is recorded at ₹8,117.90 million and profit after tax (PAT) grew at ₹787.14 million in 2025.

Management & Shareholding

Promoters & Shareholding

The promoters of Virupaksha Organics Ltd. include Chandra Mouliswar Reddy Gangavaram, Balasubba Reddy Mamilla and several other members of the Gangavaram and Mamilla families. In the company, they collectively bring extensive experience in chemical engineering and pharmaceutical management. Before the IPO of the company, the promoters held a heavy stake in the equity of the company, but after the IPO, the promoters' holding will be reduced to the new public shareholders.

Board & Key Management

The board & key management of Virupaksha Organics Ltd. are led by Chandra Mouliswar Reddy Gangavaram (Managing Director). The leadership team is made up of the executive directors with technical backgrounds and independent directors who provide oversight in areas such as audit, risk management and corporate governance.