Rubicon Research Gains Big Investments Ahead of IPO
Kotak and Motilal Mutual Funds invested Rs 169 crore in Rubicon Research ahead of its IPO, buying stakes from General Atlantic. The IPO, launching on October 9, aims to raise Rs 1,377.5 crore with proceeds for debt reduction and strategic growth.
- Country:
- India
Kotak Mutual Fund and Motilal Mutual Fund have collaborated to invest approximately Rs 169 crore in Rubicon Research, a pharmaceutical company, ahead of its Initial Public Offering (IPO).
The investment deal involved General Atlantic Singapore RR Pte Ltd transferring 34.86 lakh shares, equivalent to a 2.25 percent stake, at a rate of Rs 484.47 per share. The managers of Rubicon Research confirmed the development in a public statement on Wednesday.
The impending IPO, opening on October 9, sets to generate Rs 1,377.5 crore, with Rs 500 crore as fresh equity and Rs 877.5 crore through an Offer For Sale (OFS) by General Atlantic. Funds will address debt repayment and assist in acquiring strategic interests.
(With inputs from agencies.)
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