Rubicon Research shares made a stellar debut on NSE and BSE, with its shares opening at a premium of 28 per cent over the IPO price.
Rubicon Research Makes Blockbuster Debut On NSE, BSE, Shares List At 28% Premium Over IPO Price
Rubicon Research shares made a blockbuster debut on the bourses on October 16, listing at a premium of 28 per cent over its issue price of Rs 485 per share. The Thane-based pharmaceutical company had priced its initial public offering (IPO) in the range of Rs 461 to Rs 485 per share.
On the NSE, the stock opened at Rs 620 per share, a premium of 27.84 per cent, while on the BSE, it debuted at Rs 620.10 apiece, up 27.86 per cent from the IPO price.
The issue received an overall subscription of 103.90 times the shares on offer. The qualified institutional buyers (QIBs) subscribed 130.26 times their quota, the non-institutional investors (NIIs) category saw 97.61 times subscription, and the retail investors portion was booked 35.47 times.
The employees of the company, which were offered shares at a discount of Rs 46 per share, booked 16.80 times their quota.
Rubicon Research IPO comprised 28.40 million shares worth Rs 1,377.50 crore, through a combination of 10.31 million fresh shares worth Rs 500 crore, and 18.09 million offer for sale shares worth Rs 877.50 crore.
