General Atlantic Sells Rubicon Research Stake for Rs 2,299 Crore

General Atlantic, through its affiliate General Atlantic Singapore RR, has divested a substantial 8.4% stake in Rubicon Research, an integrated pharmaceutical company, via open market transactions totaling approximately Rs 2,299.61 crore.

Key Transaction Details

• Shares Offloaded: A total of 1,38,53,073 equity shares
• Stake Sold: Representing 8.4% of Rubicon Research’s total shareholding
• Average Price Per Share: Each share was sold at Rs 1,660
• Total Value: The entire transaction was valued at around Rs 2,299.61 crore
• Execution: Conducted through ten separate open market tranches

This strategic move by the US-based global investment firm has significantly altered its position in Rubicon Research. Following these transactions, General Atlantic Singapore RR’s holding in the company has decreased from 35.83% to 27.45%, reflecting a notable reduction in its equity ownership.

Institutional Investors Step In

A consortium of prominent Indian and international institutional investors actively participated in acquiring the divested shares. These entities purchased an equal number of shares at the consistent price of Rs 1,660 apiece, demonstrating strong interest in Rubicon Research.

• HDFC Mutual Fund
• Kotak Mahindra Mutual Fund
• ICICI Prudential Mutual Fund
• SBI Mutual Fund
• Nomura India Investment Fund Mother Fund
• Axis Mutual Fund
• TIMF Holdings
• PI Opportunities AIF V LLP
• Aranda Investments
• VEMF-A, LP

Rubicon Research maintains its position as a key player in the pharmaceutical sector. The company’s business model encompasses the full spectrum of the pharmaceutical value chain, from initial research and development to the final production of pharmaceutical products.