Rubicon Research IPO Lists at ₹620, Up 27.8% Over Issue Price

Mumbai, October 16: The shares of Rubicon Research Limited IPO made a strong debut on NSE and BSE today, on October 16. The shares are listed at ₹620 per share, a 27.8% premium over their issue price of ₹485. This comes after the IPO received an overwhelming response from investors across all categories and was subscribed to by a massive 103.9 times.

As of 11:30 AM, the shares are trading slightly higher from the listing price and are up by 28.165, or 136.60 points, and are currently trading at ₹621.60. Until now, the shares have traded within a range of ₹636.90 and ₹587.35. The current traded volume stands at 1.92 crore shares, with the company’s market cap at ₹9,885 crore.

Rubicon Research Limited is an Indian company that is engaged in developing specialty pharmaceuticals. The company was established in 1999 and is headquartered in Mumbai, Maharashtra. The shares of the company are listed today on NSE with the ticker symbol RUBICON and on BSE with the code 544578.

Rubicon Research IPO One of the Most Subscribed IPOs of the Year

The strong debut comes after the IPO became one of the most subscribed IPOs of the year. The Qualified Institutional Buyers (QIBs) portion was subscribed 130.26×, followed by Non-Institutional Investors (NIIs) at 97.61×, while Retail Individual Investors (RIIs) subscribed 35.47×. The employee quota was subscribed by 16.80×.

Furthermore, ahead of the IPO, the company raised ₹619.08 crore from 38 marquee anchor investors, allotting 1,27,64,691 shares at ₹485 each. Key investors included HDFC Mutual Fund, ICICI Prudential MF, Kotak MF, Goldman Sachs Funds, Amansa Holdings, and Aranda Investments. Domestic mutual funds contributed 38.83% of the total anchor book through 18 schemes. The IPO was jointly managed by Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and SBI Capital Markets Limited as Book Running Lead Managers. MUFG (formerly Link Intime India Private Limited) was the registrar of the issue.

REF: https://www.nseindia.com/get-quotes/equity?symbol=RUBICON

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