NEW DELHI: Private equity player Everstone will sell its 70% stake in Rubicon Research for around ₹1,000 crore, which will fetch more than four times return on the initial investment. In 2016, Everstone Group acquired 70% shareholding in Rubicon for about ₹220 crore. "Everstone Group's Singapore fund will sell its entire stake in Rubicon Research to a global private equity player, generating 4.5x multiple and a 92% IRR (Internal Rate of Return) in a span of three years. On the basis of the initial investment, the stake will be sold for around ₹1,000 crore. Rubicon is into research, development and manufacturing of branded and specialty generic products as well as OTC (Over The Counter) products.

Source: Mint April 01, 2019 12:45 UTC