Rubicon Research Ltd Files For Rs 1,085 Crore IPO

Pharmaceutical formulation company Rubicon Research Ltd has filed draft papers with SEBI for a Rs 1,085 crore IPO. The offering includes a fresh issue of shares worth Rs 500 crore and an offer for sale valued at Rs 585 crore by General Atlantic Singapore. The proceeds will be used for debt repayment, acquisitions, and strategic initiatives.

Pharmaceutical formulation company Rubicon Research Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 1,085 crore through an initial share sale.

The company's Initial Public Offering (IPO) features a combination of a fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) valued at Rs 585 crore by promoter General Atlantic Singapore RR Pte Limited, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

Currently, General Atlantic owns over 57 percent stake in Rubicon Research. The company plans to use Rs 310 crore from the fresh issue to repay debt, while the remaining funds will support acquisitions, strategic initiatives, and general corporate purposes.

Rubicon Research, known for its innovative pharmaceutical formulations, aims to expand its portfolio targeting regulated markets, particularly the United States. The firm operates two FDA-inspected R&D facilities in India and Canada, and two manufacturing units in India, accredited by multiple regulatory agencies including USFDA and Health Canada.

As of March 31, 2024, Rubicon Research's portfolio includes 69 USFDA-approved products, 19 awaiting approval, and 46 in various stages of development.

Axis Capital, IIFL Securities, and SBI Capital Markets are the lead managers for the issue.

(With inputs from agencies.)