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