TIMF Holdings, 360 ONE Funds Invest Rs 140 Cr in Rubicon Research ahead of IPO

Mumbai, Sep 22

In a pre-IPO round, General Atlantic Singapore RR Pte. Ltd., one of Rubicon Research’s promoters, has transferred 28.89 lakh equity shares to TIMF Holdings and 360 ONE funds at Rs 484.47 per share, aggregating to Rs 140 crore.

Prior to the transaction, General Atlantic held 8.37 crore equity shares, representing a 54.01% stake; post-transfer, it continues to remain the majority shareholder with 8.08 crore equity shares, or 52.15% of the company.

General Atlantic Singapore RR Pte. Ltd., one of the Promoters of Rubicon Research, held 83,727,262 equity shares (54.01%) earlier (at the time of previous pre-ipo placement in August 2025) and will continue to hold 80,837,506 equity shares (52.15%) in the company post the pre-IPO deal. The other promoters of the company are Pratibha Pilgaonkar, Sudhir D. Pilgaonkar, Parag S. Sancheti, Surabhi P. Sancheti and Sumant S. Pilgaonkar.

Last month, as part of the transaction, General Atlantic Singapore RR Pte Ltd, one of Rubicon Research's promoters, transferred 51.60 lakh equity shares to Amansa Investments at Rs 484.47 per share, amounting to Rs 250 crore.

The Company had earlier filed its DRHP with SEBI for a proposed IPO comprising a fresh issue of equity shares aggregating up to ₹500 crore and an offer for sale aggregating up to ₹585 crore. The revised issue size will be detailed in the RHP at the IPO launch.

Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and SBI Capital Markets Limited are the Book Running Lead Managers to the Issue.

EoM