Shares of Rubicon Research Ltd. made a strong debut on Thursday, listing at ₹620 per share, up ₹135 or 27.84% over the IPO price of ₹485. The stellar listing delivered impressive listing gains for investors, marking one of the stronger debuts of the recent IPO season.
Retail investors who were allotted one lot (30 shares) saw a profit of ₹4,050, while high net-worth investors (HNIs) booking the minimum HNI lot size of 420 shares gained ₹56,700 on listing day.
IPO structure and proceeds
The Rubicon Research IPO comprised both a fresh issue and an offer-for-sale (OFS) component:
- Fresh issue: ₹500 crore
- Offer-for-sale: ₹877.5 crore by promoter General Atlantic Singapore RR Pte Ltd.
The company plans to use ₹310 crore from the fresh issue to repay debt, with the remaining proceeds earmarked for strategic acquisitions, expansion, and general corporate purposes.
Listing details and management
The stock was listed on both BSE and NSE, with a lot size of 30 shares for retail investors and 420 shares for HNIs. The IPO price band was set at ₹470–₹485 per share.
Lead managers and registrar
The IPO was jointly managed by JM Financial, Axis Capital, IIFL Capital, SBI Capital Markets, and MUFG Intime India Pvt. Ltd.
The robust debut reflects strong investor confidence in the company’s growth outlook and its focus on innovation-driven pharmaceutical research.
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