Rubicon Research Shares Listed with ~28% Premium on NSE and BSE

Rubicon Research made a strong debut on the Indian stock exchanges on Thursday, October 16, listing at a significant premium following a blockbuster response to its initial public offering (IPO) and robust momentum in the grey market.

On the BSE, Rubicon Research shares opened at ₹620.10, marking a premium of ₹135.10 or 27.86% over the IPO price of ₹485. Similarly, on the NSE, the stock debuted at ₹620, reflecting a premium of ₹135 or 27.84%.

The listing performance closely aligned with market expectations. Prior to the IPO listing, the grey market premium (GMP) stood at ₹145, indicating a potential listing price of around ₹630, a premium nearing 30%.

Rubicon Research IPO Highlights

Rubicon Research’s IPO was oversubscribed by an impressive 103.90 times by the close of the third bidding day. According to NSE data, the offer received bids for approximately 1.71 billion shares against an offer size of 16.46 million shares.

Breaking down the subscription by category:

• Qualified Institutional Buyers (QIBs) led the demand with a 130.26 times subscription.
• Non-institutional investors contributed to a 97.61 times subscription.
• Retail Individual Investors (RIIs) subscribed 35.47 times.

The ₹1,377.5 crore IPO, which ran from October 9 to 13, consisted of a fresh equity issue worth ₹500 crore and an offer-for-sale (OFS) by promoters General Atlantic Singapore RR Pte Ltd totaling ₹877.5 crore. The IPO price band was set between ₹461 and ₹485 per share.

Also Read: Urban Company Share Price in Focus as One-Month Lock-In Period Ends

About Rubicon Research Limited

Rubicon Research is a pharmaceutical formulation company renowned for its strong focus on research and development and innovation. The company is steadily expanding its portfolio to include a growing number of specialty products and drug-device combinations, targeting regulated markets, particularly the United States.

In addition to product expansion, Rubicon Research has been enhancing its manufacturing capabilities. Notably, in June, it acquired Alkem Laboratories’ formulations facility in Pithampur, Madhya Pradesh, through an all-cash deal valued at ₹149 crore, further bolstering its production infrastructure.

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