Rubicon Research IPO listing tomorrow: Here’s what GMP, subscription status hint ahead of debut

Rubicon Research IPO listing date has been scheduled for tomorrow (Thursday, October 16). Rubicon Research IPO allotment was finalised yesterday (Tuesday, October 14). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Wednesday, October 15. The process of refunding those who have not yet received their shares will likewise be finished today.

The pharmaceutical company Rubicon Research launched its IPO for subscription from Thursday, October 9 to Monday, October 13. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 97.61 times, followed by qualified institutional buyers (QIBs) at 130.26 times. Retail investors showed a subscription rate of 35.47 times. Notably, on the third day of the IPO, the Rubicon Research IPO subscription status stood at 103.90 times, as reported by the BSE.

Rubicon Research IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

Rubicon Research IPO price band was fixed in the range of ₹461 to ₹485 per equity share of face value of Re 1. The issue lot size is 30 equity shares and in multiples of 30 equity shares thereafter.

Let's check what does Rubicon IPO GMP today signal ahead of listing.

Rubicon Research IPO GMP today

Rubicon Research IPO GMP today or grey market premium is ₹143. This indicates Rubicon Research share price were trading at a premium of ₹143 in the grey market on Wednesday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rubicon Research share price was indicated at ₹628 apiece, which is 29.48% higher than the IPO price of ₹485.

According to the grey market activities observed over the last 14 sessions, today’s IPO GMP is trending upwards, indicating a robust listing ahead. The minimum GMP recorded is ₹0.00, whereas the maximum GMP stands at ₹143, as per analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Rubicon Research IPO details

The Rubicon IPO features a fresh issuance of equity shares amounting to ₹500 crore and a share offer-for-sale (OFS) worth ₹877.5 crore from the promoter, General Atlantic Singapore RR Pte Ltd. Proceeds of ₹310 crore from the new issuance will be allocated for debt repayment, while a portion will be aimed at facilitating inorganic growth through acquisitions, strategic initiatives, and general corporate purposes.

JM Financial, Axis Capital, IIFL Capital, SBI Capital Markets, and MUFG Intime India Pvt. Ltd. act as the registrars for the offering.

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