Kotak Private Equity may exit Rubicon with 3x returns
Kotak Private Equity is selling about 20% stake that it is estimated to hold in contract research and manufacturing company Rubicon Research to a consortium of investors led by Everstone Capital and Professor Shivanand Mankekar.
Rubicon Research will also raise primary capital by selling another 20-25% through this round of fundraising that values the company at $200-250 million, three people with direct knowledge of the development told ET. Everstone Capital and other investors will end up owning 35-49% stake in the company.
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