NewsIPORubicon Research Secures Rs 140 Crore in Pre-IPO Funding from TIMF Holdings and 360 ONE FundsRubicon Research Secures Rs 140 Crore in Pre-IPO Funding from TIMF Holdings and 360 ONE Funds
Pharmaceutical company Rubicon Research has raised Rs 140 crore in a pre-IPO funding round from TIMF Holdings and 360 ONE funds. The transaction involved the transfer of 28.89 lakh equity shares at Rs 484.47 per share from General Atlantic Singapore, reducing their stake from 54.01% to 52.15%. Rubicon plans to launch its IPO by year-end, comprising a fresh issue of Rs 500 crore and an offer-for-sale of Rs 585 crore. The company has FDA-inspected R&D facilities in India and Canada, two manufacturing plants in India, and recently acquired Alkem Laboratories' formulations facility for Rs 149 crore.
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Pharmaceutical company Rubicon Research has successfully raised Rs 140 crore in a pre-IPO funding round, with investments from TIMF Holdings and 360 ONE funds. This development marks a significant milestone for the company as it prepares for its upcoming initial public offering (IPO).
Transaction Details
The funding transaction involved the transfer of 28.89 lakh equity shares from General Atlantic Singapore to the new investors at a price of Rs 484.47 per share. As a result of this deal:
- General Atlantic's stake in Rubicon Research decreased from 54.01% to 52.15%
- Despite the reduction, General Atlantic remains the majority shareholder in the company
Upcoming IPO Plans
Rubicon Research has set its sights on launching its IPO by the end of this year. The proposed public offering is expected to comprise:
- A fresh issue worth Rs 500.00 crore
- An offer-for-sale component of Rs 585.00 crore
Company Overview
Rubicon Research has established a strong presence in the pharmaceutical industry with:
- US FDA-inspected R&D facilities in India and Canada
- Two manufacturing plants located in India
The company's product portfolio includes:
| Category | Count |
|---|---|
| USFDA-approved products | 69 |
| Applications pending approval | 19 |
| Products under development | 46 |
Recent Acquisition
In a strategic move to expand its manufacturing capabilities, Rubicon Research recently acquired Alkem Laboratories' formulations facility in Madhya Pradesh for Rs 149.00 crore. This acquisition is expected to enhance the company's production capacity and market presence.
The pre-IPO funding and the upcoming public offering are likely to provide Rubicon Research with the capital needed to fuel its growth plans and strengthen its position in the pharmaceutical market. As the company prepares for its IPO, investors and industry observers will be keenly watching its progress in the coming months.
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