Rubicon Research IPO Sees Robust 109x Oversubscription, Allotment on October 14
Rubicon Research's Rs 1,377 crore IPO closed with a 109.35 times oversubscription across all segments. Qualified Institutional Buyers led with 137.09x subscription, followed by Non-Institutional Investors at 102.70x and Retail Investors at 37.40x. The price band was set at Rs 461-485 per share. Share allotment is scheduled for October 14, with listing on BSE and NSE on October 16. The company, operating in India, US, and Canada, reported strong financial growth with a 49% increase in revenue to Rs 1,296 crore and a 48% rise in net profit to Rs 134 crore. The grey market premium of Rs 125 suggests a potential listing gain of about 26%.
*this image is generated using AI for illustrative purposes only.
Rubicon Research's Initial Public Offering (IPO) has garnered significant investor interest, closing with a strong oversubscription of 109.35 times across all segments. The Rs 1,377 crore IPO saw enthusiastic participation from various investor categories, setting the stage for its upcoming market debut.
Subscription Details
The IPO's success is evident from the subscription rates across different investor categories:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers (QIB) | 137.09x |
| Non-Institutional Investors (NII) | 102.70x |
| Retail Investors | 37.40x |
Key IPO Information
- Total IPO Size: Rs 1,377 crore
- Price Band: Rs 461-485 per share
- Lot Size: 30 shares
- Anchor Investment: Rs 619 crore raised from anchor investors
Important Dates
- Share Allotment: October 14, 2023
- Listing Date: October 16, 2023 (on BSE and NSE)
Company Overview
Rubicon Research is a pharmaceutical company with a strong presence in the global market:
- Over 72 approved products in the US market
- Operations in India, US, and Canada
Financial Performance
The company has shown robust financial growth:
| Metric | Value | Growth |
|---|---|---|
| Revenue | Rs 1,296.00 crore | 49.00% |
| Net Profit | Rs 134.00 crore | 48.00% |
| Return on Equity (ROE) | 29.00% | - |
| EBITDA Margin | 20.70% | - |
Grey Market Premium
The current grey market premium stands at Rs 125, indicating an expected listing price of around Rs 610. This suggests a potential listing gain of approximately 26% above the issue price.
The strong oversubscription and positive grey market premium indicate high investor confidence in Rubicon Research. However, investors should note that grey market premiums are unofficial and subject to change. As always, it's advisable to consider one's financial goals and risk appetite before making investment decisions.
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