Kotak Mutual Fund and Motilal Mutual Fund have invested approximately ₹169 crore in Rubicon Research, a pharmaceutical firm, prior to its IPO. The transaction involved General Atlantic Singapore RR Pte Ltd selling 34.86 lakh shares, equivalent to a 2.25% stake, at ₹484.47 per share. The Motilal Oswal Small Cap Fund acquired 16.4 lakh shares, which represents a 1.06% stake, for ₹79.4 crore. Meanwhile, the Kotak Midcap Fund purchased 13.3 lakh shares, or 0.86% stake, for ₹64.4 crore, and the Kotak Manufacture In India Fund bought 5.16 lakh shares, accounting for a 0.33% stake, for ₹25 crore. It’s worth noting that General Atlantic had previously sold shares to other investors, but those transactions are not included in the upcoming IPO.
The total size of the Rubicon Research IPO is ₹1,377.5 crore, consisting of a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹877.5 crore from General Atlantic. The IPO will be open from October 9 to October 13, with a price band set between ₹461 and ₹485 per share. The funds raised will primarily be used for debt repayment (₹310 crore) and to support business growth through acquisitions and other initiatives.