Rubicon Research IPO Listing Date And Latest GMP Ahead Of Market Debut This Week

Shares of Rubicon Research Ltd. will be in focus as investors await the company's debut on the stock market this week.

The initial public offering (IPO) of Rubicon Research Ltd. closed with a strong subscription on the last day of bidding on Monday. The mainboard IPO was oversubscribed 103.90 times on the third and final day, with investors bidding for 1,70,96,80,620 shares against the 1,64,55,670 shares on offer.

The share allotment status for the Rubicon Research IPO was finalised on Tuesday, October 14. Successful bidders can expect the shares to be credited to their demat accounts on Wednesday, October 15.

The unlisted shares of Rubicon Research Limited have been trading at a premium in the grey market (GMP), indicating positive listing gains for investors. The GMP for the public issue has gained consistently since it opened for subscription on October 9.

Here’s a look at what the latest trends indicate for the IPO of Rubicon Research.

Shares of Rubicon Research are expected to list on NSE and BSE on Thursday, October 16.

The Grey Market Premium (GMP) for the Rubicon Research IPO was Rs 128 as of 9:30 a.m. on October 15, marking the highest GMP recorded for the IPO. This indicates a potential listing price of Rs 613 (Rs 485+Rs 128) per share, representing a premium of 26.39% over the upper limit of the price band.

Private market investors will continue to monitor the GMP trends as the mainboard issue is set to debut on the market tomorrow.

The Rubicon Research IPO is a book-built issue of Rs 1,377.50 crore, comprising a fresh issue of 1.03 crore shares aggregating Rs 500 crore and an Offer for Sale (OFS) of 1.81 crore shares aggregating Rs 877.50 crore.

The price band for the IPO was set between Rs 461 and Rs 485 per share.

Axis Capital Limited is the book-running lead manager, and MUFG Intime India Private Limited is the registrar for the issue.

Rubicon Research is a pharmaceutical company that manufactures differentiated formulations. It has three manufacturing facilities in India.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.