M&A

M&A

Rubicon Research acquires 85% stake in Arinna Lifesciences for Rs.176-Cr

BSE Announcement   Business Line  

Thane-based Rubicon Research Ltd has acquired an 85% equity stake in Ahmedabad-based Arinna Lifesciences at an enterprise valuation of INR 200 crore on a cash- and debt-free basis. The purchase consideration for the secondary acquisition amounted to approximately INR 175.92 crore, translating to INR 158.53 per share. Arinna’s founder, Vivek Seth, will retain a 15% stake and continue in his role as the managing director.Arinna is a branded pharmaceutical marketing company specialising in CNS (central nervous system) and neuropsychiatric therapies. Its portfolio includes over 60 brands covering antiepileptics, antidepressants, and antipsychotics. The company claims to have developed a network of more than 4,000 prescribers and an established distribution ecosystem throughout India, encompassing distributors, stockists, and retail pharmacies.For the financial year ended March 2025, Arinna reported a turnover of INR 71.5 crore. For the nine months ending December 2025, it recorded provisional revenue of INR 56.7 crore and EBITDA of INR 9.5 crore.

Between Feb 2015 and Jul 2016, Arinna Lifesciences had attracted about USD 7 M from Motilal Oswal Alternates.