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).
Everstone acquires 70% stake in Rubicon
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