image credit- shutterstock
Amansa Investments Ltd. has invested Rs 250 crore in IPO-bound Mumbai-based Rubicon Research Limited in a pre-IPO placement. Corporate Promoter General Atlantic Singapore RR Pte Ltd. transferred 51,60,278 equity shares (of face value of Re. 1 each) to Amansa Investments Ltd. for cash at a price of Rs 484.47 per equity share (including a share premium of Rs 483.47 per equity share), aggregating to Rs 250 crore (Pre-IPO Placement).
The company had earlier filed its DRHP with SEBI for a proposed IPO comprising a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale aggregating up to Rs 585 crore. The size of the fresh issue of up to Rs 500 crore has been reduced pursuant to the Pre-IPO Placement, and accordingly, the revised size of the fresh issue will be up to Rs 250 crore.
Rubicon Research Limited is a pharmaceutical formulations company with an expanding portfolio of specialty and drug-device combination products, exclusively focused on regulated markets, particularly the United States.
Rubicon’s total revenue from operations more than doubled from Rs 313.57 crore in Fiscal 2022 to Rs 853.89 crore in Fiscal 2024, growing at a CAGR of 62.5%, which, according to Frost & Sullivan, was five times higher than the average of 11 assessed peers, making Rubicon the fastest-growing Indian pharmaceutical formulations company among the assessed peers.
