Rubicon Research Sets Trailblazing IPO Path with Rs 1,377.5 Crore Target

Rubicon Research, a Mumbai-based pharmaceutical formulations company, has announced a significant move towards the stock market with its initial public offering (IPO) set within a price band of Rs 461 to Rs 485 per share.

The IPO seeks to raise a substantial Rs 1,377.5 crore and will be open for subscription from October 9 to October 13, with bidding for anchor investors commencing on October 8.

The fresh issue of equity shares will generate Rs 500 crore dedicated to debt repayment, acquisitions, and strategic initiatives. Furthermore, an offer-for-sale valued at Rs 877.5 crore will be led by promoter General Atlantic Singapore RR Pte Ltd, which remains the majority shareholder.

(With inputs from agencies.)