Amansa Investments completes ₹250 crore pre-IPO placement in Rubicon Research
The investment reduces Rubicon Research’s fresh IPO issue size to ₹250 crore, with General Atlantic Singapore RR Pte retaining majority stake
Amansa Investments has invested ₹250 crore in Rubicon Research Limited through a pre-IPO placement. Corporate Promoter General Atlantic Singapore RR Pte transferred 51,60,278 equity shares, each with a face value of Re. 1, to Amansa Investments at a price of ₹484.47 per share, including a share premium of ₹483.47 per share. The total transaction value aggregated to ₹250 crore.
The transaction, conducted in consultation with the Book Running Lead Managers (BRLMs) of Rubicon Research, received board approval on 12 August 2025.
Prior to the pre-IPO placement, General Atlantic Singapore RR Pte, one of Rubicon Research’s promoters, held 88,887,540 equity shares, representing 57.34 per cent of the company at the time of the DRHP filing in July 2024. Following the pre-IPO deal, the promoter will continue to hold 83,727,262 equity shares, equivalent to 54.01 per cent. Other promoters of the company include Pratibha Pilgaonkar, Sudhir D. Pilgaonkar, Parag S. Sancheti, Surabhi P. Sancheti, and Sumant S. Pilgaonkar. At the time of DRHP filing, the promoters held 82.87 per cent of the company, while the promoter group held 83.20 per cent.
Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and SBI Capital Markets Limited are acting as Book Running Lead Managers to the issue.