Rubicon Research IPO GMP Surges As Issue Gets Fully Subscribed — Here's All You Need To Know
According to current GMP trends, the grey market premium for the Rubicon Research IPO has been strong for the last few days and showed minor gains when the mainboard issue opened for subscription.
Pharmaceutical formulation company Rubicon Research Ltd., which launched its initial public offering (IPO) on October 9, was booked 0.51 times on Thursday. Investors bid for 84,62,370 shares against the 1,64,55,670 shares on offer.
The IPO was fully subscribed on Friday.
The company is looking to raise over Rs 1,000 crore from the primary market.
The grey market premium (GMP) for the IPO has been going strong for the last few days and showed minor gains when the mainboard issue opened for subscription. This will be of keen interest to private market investors who follow the latest GMP trends, which currently point to positive listing gains for the Rubicon Research IPO.
Here's all you need to know about the Rubicon Research IPO, including the latest GMP, price band, offer size, and important dates.
Rubicon Research IPO GMP Today
The GMP for the Rubicon Research IPO was Rs 111 as of 1:00 p.m. on October 10. It indicates a listing price of Rs 596 per share at a premium of 22.89% on the upper limit of the price band.
The lowest GMP recorded for the IPO was Rs 60 on October 4. Since then, the grey market premium has shown steady gains, leading to further interest among the grey market investors.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Rubicon Research IPO Day 2 Subscription Status
The IPO was booked 1.09 times as of 2:00 p.m. on Friday
QIBs: 0.38 times
NIIs: 1.21 times
RIIs: 3.01 times
Rubicon Research IPO: All You Need To Know
The Rubicon Research IPO is a book-built issue of Rs 1,377.50 crore. It comprises a fresh issue of 1.03 crore shares worth Rs 500 crore and offer-for-sale (OFS) of 1.81 crore shares amounting to Rs 877.50 crore.
The price band for the IPO is set between Rs 461 and Rs 485 per share.
To participate in the IPO, retail investors need to bid for a single lot of 30 shares, requiring an investment of Rs 14,550. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,03,700. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 69 lots, leading to an investment of Rs 10,03,950.
Of the 1,64,55,670 shares on offer, 89,52,820 are reserved for QIBs, 44,76,409 are reserved for NIIs, 29,84,273 are reserved for RIIs, and the remaining for the employee reserved category.
Axis Capital Ltd. is the book-running lead manager, and MUFG Intime India Ltd. is the registrar for the issue.
The subscription window will remain open till October 13, with the allotment expected to be finalised on October 14. The company will transfer shares to the demat accounts of successful bidders on October 15 and refunds for non-allottees will be done on the same day.
Shares of Rubicon Research are scheduled to list on the BSE and NSE on October 16.
Rubicon Research IPO: Use Of Proceeds
The company will use proceeds from the IPO to clear debts and to fund inorganic growth.
About Rubicon Research
Rubicon Research is a pharmaceutical company that manufactures differentiated formulations. It has three manufacturing facilities in India.
Financials
The company reported a 47.6% year-on-year (YoY) increase in profit after tax (PAT) to Rs 134.36 crore in FY25 from Rs 91.01 crore in FY24. Total income rose 48.58% YoY to Rs 1,296.22 crore in FY25 from Rs 872.39 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
