Pharmaceutical formulations company Rubicon Research has successfully raised Rs 619 crore from anchor investors ahead of its Initial Public Offering (IPO). This development marks a significant milestone for the company as it prepares to go public.

Anchor Book Details

The anchor book saw participation from a diverse group of institutional investors, including:

• Goldman Sachs
• HDFC Mutual Fund
• Fidelity Funds
• ICICI Prudential Mutual Fund
• Kotak Mahindra Mutual Fund
• Amansa Holdings
• Aranda Investments

Rubicon Research allocated over 1.27 crore equity shares to 32 funds at Rs 485 per share, which is at the upper end of the price band.

IPO Structure and Timeline

The offer for sale component comes from the promoter, General Atlantic Singapore, which will see its shareholding decrease by 35% post-IPO.

Fund Utilization

The company plans to use the proceeds from the fresh issue as follows:

• Rs 310 crore for debt repayment
• Inorganic growth through acquisitions

Notable Investments

Two mutual funds made significant investments in Rubicon Research:

1. Kotak Mutual Fund
2. Motilal Mutual Fund

Together, these funds invested Rs 169 crore in the pharmaceutical company.

Company Profile

Rubicon Research is a pharmaceutical formulations company with a strong focus on research and development. The company specializes in:

• Developing specialty products targeting regulated markets, particularly the United States
• Operating two FDA-inspected R&D facilities
• Managing two manufacturing plants

This IPO represents an important step for Rubicon Research as it seeks to expand its operations and strengthen its position in the pharmaceutical industry.

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:

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.