Hyderabad: Virupaksha Organics Limited has completed the acquisition of Vivin Drugs & Pharmaceuticals Limited and Vivin Laboratories Private Limited through National Company Law Tribunal (NCLT) resolution process, marking its third acquisition ahead of a proposed initial public offering.Hyderabad Bench of NCLT approved Virupaksha’s ₹104-crore resolution plan on Aug 21, 2026, after it secured a 98.2% vote from the committee of creditors. Payment, handover and other implementation formalities have been completed, people aware of the development said.The plan transfers management and control of both Vivin entities to Virupaksha as going concerns and provides for the merger of Vivin Laboratories with Vivin Drugs & Pharmaceuticals to consolidate assets and operations.The IPO-bound Hyderabad-based Virupaksha Organics, which has filed its DRHP for a Rs 740 crore initial public offering, declined to comment on the development.Vivin’s active pharmaceutical ingredient portfolio includes Lamivudine, Emtricitabine and Dolutegravir Sodium, all carrying US-DMF status, along with Tenofovir Alafenamide and Tenofovir Disoproxil Fumarate, for which US-DMF documentation is in process.The antiviral basket is expected to complement Virupaksha’s products and improve utilisation of manpower and overheads.Virupaksha’s offer was selected after four prospective resolution applicants submitted plans, three of which were compliant and evaluated by lenders. Admitted claims stood at ₹172.04 crore against fair and liquidation values of ₹92.93 crore and ₹76.62 crore, respectively. The company had furnished a ₹30-crore performance guarantee until full implementation.Incorporated in 1997, Virupaksha manufactures APIs and intermediates and runs a CDMO business. It serves more than 550 customers in over 100 countries and reported FY2026 standalone revenue of ₹925 crore, with profit after tax of ₹89.5 crore.
