Rubicon Research's IPO: A Financial Leap With Global Aspirations

Rubicon Research Limited is poised to make a significant move in the financial market with its Initial Public Offering (IPO) aimed at raising Rs 1,377.50 crore. The pharmaceutical company will open for subscription on October 9, 2023, with the offering expected to close by October 13, targeting various investor segments.

The IPO, detailed in the company's Red Herring Prospectus, involves fresh equity shares worth Rs 500 crore and an offer-for-sale valued at Rs 877.5 crore from its major stakeholder, General Atlantic Singapore RR Pte Ltd. The proceeds will primarily be used for clearing existing debts and financing potential acquisitions for further growth.

With a strategic goal to expand its influence in the global pharmaceutical market, particularly in the United States, Rubicon Research is also focused on innovation, as highlighted by its recent acquisition of Alkem Laboratories' facility in Madhya Pradesh. The company's stock market debut is anticipated on October 16, 2023.

(With inputs from agencies.)