Rubicon Research IPO: Kotak & Motilal Funds Invest Rs 169 Crore

Kotak Mutual Fund and Motilal Mutual Fund have together invested about Rs 169 crore in Rubicon Research, a pharmaceutical company, ahead of its IPO.

Details of the deal:

General Atlantic Singapore RR Pte Ltd sold 34.86 lakh shares (2.25% stake) at Rs 484.47 per share.

Motilal Oswal Small Cap Fund bought 16.4 lakh shares (1.06% stake) for Rs 79.4 crore.

Kotak Midcap Fund bought 13.3 lakh shares (0.86% stake) for Rs 64.4 crore.

Kotak Manufacture In India Fund bought 5.16 lakh shares (0.33% stake) for Rs 25 crore.

Earlier, General Atlantic had sold shares to other investors, but these are not part of the upcoming IPO.

Rubicon Research IPO Details

Total IPO Size: Rs 1,377.5 crore

Fresh Issue: Rs 500 crore

Offer For Sale (OFS): Rs 877.5 crore by General Atlantic

IPO Dates: Opens October 9, closes October 13

Price Band: Rs 461–485 per share

Use of Funds: Mainly debt repayment (Rs 310 crore) and business growth through acquisitions and other projects