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1h ago

Rubicon Research Opens Rs 1,377.50-Crore IPO After Raising Rs 619 Crore From Anchors

Fresh-issue funds are slated primarily for debt reduction, with the balance for inorganic growth.

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Rubicon Research IPO GMP Today
Rubicon Research IPO kicks-off: Should you subscribe to this pharma issue?
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Overview

  • The price band is set at Rs 461–485 per share, with subscriptions open Oct. 9–13 and listing scheduled for Oct. 16 on BSE and NSE.
  • Rubicon allotted about 1.276 crore shares to 32 anchor investors at Rs 485, drawing participants such as Goldman Sachs, Fidelity, HDFC MF, ICICI Prudential MF, Kotak MF, Amansa and Aranda.
  • The offer totals Rs 1,377.50 crore, comprising a Rs 500-crore fresh issue and a Rs 877.50-crore offer for sale, with allocation split 75% to QIBs, 15% to NIIs and 10% to retail investors.
  • About Rs 310 crore from the fresh issue is earmarked to repay debt, with additional funds for acquisitions, strategic initiatives and general corporate purposes.
  • General Atlantic’s stake is expected to reduce by about 35% post-offer after pre-IPO share transfers to investors including Amansa, TIMF and 360 ONE, while the grey market premium was reported near Rs 98 on Oct. 9, an unofficial indicator of listing-day sentiment.