Rubicon Research Secures Rs 140 Crore in Pre-IPO Funding Boost
US-based Think Investments and 360 ONE funds have invested Rs 140 crore in Rubicon Research in a pre-IPO round. The transaction involves the transfer of shares from General Atlantic, which remains a major stakeholder. Rubicon plans a public issue, expected to support debt repayment and acquisitions.
- Country:
- India
TIMF Holdings, owned by Think Investments, and 360 ONE funds have strategically invested Rs 140 crore in pharmaceutical company Rubicon Research ahead of its anticipated IPO.
The investment involves acquiring 28.89 lakh equity shares from General Atlantic Singapore RR Pte. Ltd., a key promoter of Rubicon, at Rs 484.47 per share. This maintains General Atlantic's position as a major shareholder, holding over 52% of the company.
Rubicon's upcoming IPO is set to include a fresh equity issue worth Rs 500 crore and an offer-for-sale of Rs 585 crore. The funds raised will aid in debt repayment and acquisition-focused growth, enhancing Rubicon's operational capacity and market reach.
(With inputs from agencies.)
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