Pharmaceutical company Virupaksha Organics filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. (Image: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Pharmaceutical company Virupaksha Organics filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include only fresh issues of shares worth Rs 740 crore, according to the draft red herring prospectus 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.

Proceeds from the fresh issue will be utilised to the tune of Rs 360 crore towards funding capital expenditure requir

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