AZB, Khaitan, CAM, Veritas on Everstone’s purchase of 70% stake in Rubicon for 220 crore

Everstone Capital Asia has acquired a 70% controlling stake in Mumbai-based tech drug firm Rubicon Research for Rs. 220 crore.

The deal involved a primary and secondary acquisition of shares of Rubicon. The secondary acquisition involved a purchase of shares by Everstone from two Kotak domestic entities, Kotak Employees Investment Trust (KEIT) and Kotak India Venture Fund I (KIVF) and one offshore entity Kotak India Venture (Offshore) Fund (KIVOF).

Deal Everstone acquires 70% stake in Rubicon
Value  220 crore
Deal Type PE
Sector Brownfield Pharma
Law Firms AZB & Partners – Rubicon; Khaitan & Co, In-house team – Everstone; Cyril Amarchand Mangaldas – KEIT, KIVF and KIVOF
Partners/Heads AZB & Partners – Anand Shah; Khaitan & Co – Bhavik Narsana; Everstone Legal team – Raghavendra Hegde and Rupesh Mishra

AZB & Partners acted for Rubicon through a team of Partner Anand Shah and Senior Associate Shreya Desai.

Everstone was represented by its in-house legal team of Raghavendra Hegde and Rupesh Mishra. It was also assisted by Khaitan & Co, whose team was led by Partner Bhavik Narsana, along with Associate Partner Vineet Shingal, Principal Associates Namrata Mehta and Tarunya Krishnan, and Associates Kapish Mandhyan, Avantika Govil Sagar BM and Kamna Kumar.

Cyril Amarchand Mangaldas represented KEIT, KIVF and KIVOF.

Veritas Legal acted for one of the selling promoters, Maharukh Rustamjee. The Veritas team was led by Partner Abhijit Joshi along with Senior Associates  Vineet Nalawalla and Kanisha Vora.