Rubicon Research IPO: Analysis of Strong Market Debut and Share Price Trends

Rubicon Research IPO Surges in Market Debut

The shares of Rubicon Research made a strong stock market debut on October 16, listing at Rs 620 on NSE, reflecting a premium of 27.84% over the IPO price of Rs 485.

On BSE, these shares opened at Rs 620.10, marking a premium of 27.86% over the IPO. The stock’s market capitalization at debut reached Rs 10,216 crore.

Market Debut Misses Grey Market Estimates

• The listing premium slightly fell short of grey market predictions.
• Prior to listing, unlisted shares traded nearly 30 percent above the IPO price.

Key Insights on Rubicon Research IPO

Rubicon Research initiated its IPO aiming to raise Rs 1,377.50 crore through a fresh issue worth Rs 500 crore and an OFS of Rs 877.5 crore from promoter General Atlantic Singapore RR. The set price band for the IPO ranged between Rs 461-485.

The public issue saw impressive investor participation, being subscribed 48 times between October 9 and October 13, with non-institutional investors subscribing over 80 times their portion reserved.

Utilization of IPO Proceeds

• Rubicon plans to allocate Rs 310 crore of the fresh issue for repaying borrowings.
• Remaining funds will target inorganic growth via acquisitions and general corporate needs.

Expert Opinions on Rubicon Research

According to Siddharth Maurya, Founder & Managing Director of Vibhavangal Anukulakara, the company benefits from a significant percentage of its revenues from the U.S., showcasing its robust international competitiveness despite potential geopolitical risks.

HDFC Securities highlights Rubicon as the fastest growing Indian pharmaceuticals firm, with a revenue CAGR of 75.89% projected between fiscal years 2023 and 2025.

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