NEW DELHI: Rubicon Research Ltd is set to launch its ₹1,377.5-crore initial public offering (IPO) on October 9. The issue will close on October 13, with anchor investor bidding scheduled for October 8, according to the Red Herring Prospectus (RHP).
The company has fixed the price band at ₹461–₹485 per share. The IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer-for-sale (OFS) of ₹877.5 crore by promoter General Atlantic Singapore RR Pte Ltd.
Of the fresh issue proceeds, about ₹310 crore will go towards debt repayment, while the rest will be earmarked for acquisitions, strategic initiatives, and general corporate purposes.
General Atlantic will remain the majority shareholder post-offer, holding 52.15% in the company. Other promoters include Pratibha Pilgaonkar, Sudhir D. Pilgaonkar, Parag S. Sancheti, Surabhi P. Sancheti, and Sumant S. Pilgaonkar.
Rubicon Research, a pharmaceutical formulations company, focuses on R&D-driven specialty products and drug-device combinations targeting regulated markets, especially the US. The firm has been expanding its manufacturing base, acquiring Alkem Laboratories’ Pithampur facility in June for ₹149 crore.
Currently, it operates two US FDA-inspected R&D centres (in India and Canada) and two India-based manufacturing plants accredited by multiple global regulators.
As per the IPO structure, 75% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 10% for retail investors.
In recent stake sales, General Atlantic offloaded 1.86% in September for ₹140 crore and 3.3% in August for ₹250 crore, both at ₹484.47 per share.
Rubicon Research is expected to list on stock exchanges on October 16.
