NEW DELHI : Private equity player Everstone will sell its 70% stake in Rubicon Research for around 1,000 crore, which will fetch more than four times return on the initial investment.

In 2016, Everstone Group acquired 70% shareholding in Rubicon for about 220 crore.

"Everstone Group's Singapore fund will sell its entire stake in Rubicon Research to a global private equity player, generating 4.5x multiple and a 92% IRR (Internal Rate of Return) in a span of three years.

"This would be one of the best returns generated in the pharmaceutical industry," Everstone said in a release on Monday.

On the basis of the initial investment, the stake will be sold for around 1,000 crore.

Rubicon is into research, development and manufacturing of branded and specialty generic products as well as OTC (Over The Counter) products.

"This is a great example of how a strong relationship and true team work between internal and external stakeholders can produce exceptional outcomes," Everstone Group Co-Founder and CEO Sameer Sain said.

This story has been published from a wire agency feed without modifications to the text.