Rubicon Research Share Price Opens 28% Above IPO

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Rubicon Research Share Price Opens 28% Above IPO

The IPO was subscribed 103.90 times by the end of the bidding period on Monday, October 13.

Rubicon Research share price fell over 1 per cent in Thursday’s trading session after a strong debut on the Indian stock market. At 13:27 IST, the share was trading at Rs 614.20 apiece on the NSE and Rs 615.20 per share on the BSE.

The stock had opened at Rs 620 per share on the NSE, up 27.83 per cent from its issue price of Rs 485. On the BSE, it opened at Rs 620.10 per share, marking a 27.85 per cent increase from the issue price. The market valuation of the company crossed Rs 10,150 crore.

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The IPO was subscribed 103.90 times by the end of the bidding period on Monday, October 13. Valued at Rs 1,377.5 crore, the IPO had a price band of Rs 461 to Rs 485 per share. It featured a fresh issue of equity shares totaling Rs 500 crore and an Offer-For-Sale (OFS) worth Rs 877.5 crore from the promoter, General Atlantic Singapore RR Pte Ltd.

Funds raised from the fresh issue, totalling Rs 310 crore, will be utilised for debt repayment, with a portion allocated to acquisitions, strategic initiatives, and general corporate purposes.

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Rubicon Research focuses on pharmaceutical formulations, emphasizing research and development as well as innovation. Its product lineup increasingly includes specialty items and drug-device combination products targeted at regulated markets, especially in the United States.

Disclaimer: The article is for informational purposes only and not investment advice.