Rubicon Research IPO gets oversubscribed on Day 2 of public bidding, latest GMP details

With an issue size of Rs 1,377 crore, Rubicon Research IPO is already a hit with the investors, resulting in an oversubscription on day 2 of the public bidding. 

 

As per official sources, Qualified Institutional Buyers subscribed for 2.11 times their allotted share. Meanwhile, Non-Institutional Investor and Retail Individual Investor subscribed to 1.82 times and 3.94 times their allotted share. 

 

Investors can apply for the Rubicon Research IPO for a minimum investment of Rs 13,830 for 30 shares. The price range is set at Rs 461-485. 

 

IPO dates

Rubicon Research IPO bidding, which started on October 9, will continue till October 13. The tentative allotment date is set for October 14, and shares are expected to be listed on October 16. 

 

As per multiple media reports, the grey market premium of Rubicon Research IPO stood at Rs 111, and a listing gain of 22 per cent is expected. 

 

About Rubicon

The company, established in 1999, evolved from a contract development services provider to a focused pharmaceutical company developing, manufacturing, and marketing speciality and generic prescription products primarily for the US market. 

 

Rubicon operates through two key US subsidiaries, AdvaGen Pharma for generic products and Validus for branded specialty pharmaceuticals. The company's manufacturing capabilities span three US FDA-inspected facilities in India, capable of producing oral solids, liquids, and nasal sprays. It also ranks 9th globally among companies securing speciality pharma approvals between 2019 and 2024, having received seven approvals during this period.

 

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