Rubicon Research Shares Surge 28% in Strong Market Debut
Rubicon Research Ltd made a striking market entrance, with shares opening 27.85% above their IPO price of ₹485 on the BSE. The pharmaceutical firm's stock debuted at ₹620.10, reflecting robust investor confidence after its oversubscribed ₹1,377.5-crore offering.
The company's valuation now stands at ₹9,917.97 crore, fueled by a 103.9-times subscription rate. Proceeds will primarily service debt and fund strategic acquisitions, aligning with Rubicon's expansion in regulated markets like the US.
June's acquisition of Alkem Laboratories' facility signals aggressive manufacturing capacity growth. The OFS component saw promoter General Atlantic Singapore RR Pte Ltd divest ₹877.5 crore worth of shares.