Pharmaceutical formulation company Rubicon Research Ltd has filed draft papers with capital markets regulator Sebi to garner Rs 1,085 crore through an initial share sale.
The company’s Initial Public Offering (IPO) is a combination of a fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of shares valued at Rs 585 crore by promoter, General Atlantic Singapore RR Pte Limited, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
At present, General Atlantic owns over 57 per cent stake in Rubicon Research.
The company proposes to utilise proceeds from the fresh issue to the tune of Rs 310 crore for payment of debt. Also, funds will be used for supporting inorganic growth through unidentified acquisitions as well as other strategic initiatives and general corporate purposes.
Rubicon Research is a pharmaceutical formulations company, driven by innovation through focused research and development, with an increasing portfolio of speciality produ
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