Promoter General Atlantic Sells 8.4% Stake In Rubicon Research For ₹2,299 Cr

General Atlantic, one of the promoters of Rubicon Research, sold an 8.4% stake in the pharmaceutical company for ₹2,299 crore through multiple block deals on Wednesday.

A total of 1,38,53,073 equity shares, representing an 8.38% stake, were offloaded by General Atlantic in Mumbai-based Rubicon Research, as per the block deal data on the BSE and National Stock Exchange (NSE).

General Atlantic Singapore RR Pte Ltd, an affiliate of the US-based global investment firm, sold a total of 1,30,09,701 equity shares in nine tranches, amounting to a 7.86% stake in Rubicon, as per data on the BSE.

According to the NSE data, General Atlantic Singapore RR Pte Ltd disposed of 8,43,372 shares, amounting to a 0.51% stake in the pharma company.

The shares changed hands at an average price of ₹1,660 per share on the exchanges, bringing the total transaction value to ₹2,299.61 crore.

The sell-off reduced General Atlantic Singapore RR Pte's holding in Rubicon Research to 27.45% from 35.83% following the transaction.

The combined shareholding of promoters and promoter group entities also fell to 51.38% from 59.76%.

While General Atlantic was on the selling side, the shares found buyers among a mix of domestic and foreign institutional investors.

A clutch of mutual funds managed by HDFC, Kotak Mahindra, ICICI Prudential, SBI and Axis bought an equal number of shares at the same price.

Premji Invest's arm, PI Opportunities AIF V LLP, was also among the buyers.

The foreign investors picking up shares included Nomura Asset Management Co through Nomura India Investment Fund Mother Fund, VEMF-A LP – a private investment fund managed by Pathstone Family Office and TIMF Holdings – an arm of US-based Think Investments on the BSE.

Meanwhile, Temasek's arm, Aranda Investments Pte, bought 8.43 lakh shares of Rubicon at the same price on the NSE.

The block deals came against a backdrop of strong recent performance by Rubicon Research, whose shares jumped more than 6% during the session, ending at ₹1,814.95 apiece on the BSE.

At the NSE, Rubicon Research's shares settled 5.81% higher at ₹1,808 apiece.

Earlier this month, Rubicon Research reported a 95.61% year-on-year rise in consolidated net profit to ₹85 crore for the quarter ended June 30, 2026.

It had reported a profit of ₹43 crore in the year-ago period, according to a regulatory filing.

The company's consolidated revenue increased 51.6% year-on-year to ₹534.3 crore from ₹352.4 crore in the corresponding quarter last year.