Rubicon Research: Paving the Way in Pharmaceutical Innovation with IPO Success

Rubicon Research, a leading pharmaceutical formulations company, announced, on Wednesday, securing Rs 619 crore from anchor investors prior to its initial public offering (IPO). The investor lineup includes renowned entities like Goldman Sachs and HDFC Mutual Fund, highlighting strong interest in the sector.

The company's comprehensive Rs 1,377.5 crore IPO will feature both a fresh equity issue of Rs 500 crore and an Offer For Sale from its promoter, General Atlantic Singapore RR Pte Ltd. This move is anticipated to decrease General Atlantic's holding to just over 35 per cent. The public subscription will happen from October 9 to October 13, with shares priced between Rs 461 and Rs 485 each.

The proceeds derived from the fresh issue will be used primarily for debt reduction and acquisitions aimed at inorganic growth. Additionally, Rubicon Research's expansion objectives are underscored by its recent acquisition of Alkem Laboratories' facility. The company operates state-of-the-art R&D and manufacturing facilities, certified by major global regulatory bodies.

(With inputs from agencies.)