Rubicon Research IPO Oversubscribed 103.9 Times, Boosting Growth Prospects
Rubicon Research Ltd's IPO was oversubscribed 103.90 times, collecting bids for over 170 million shares. The Rs 1,377.5-crore IPO included a fresh issue of Rs 500 crore and an OFS of Rs 877.5 crore from General Atlantic Singapore. Funds will repay debt and support company growth.
- Country:
- India
Rubicon Research Ltd's initial public offering (IPO) saw overwhelming interest, being oversubscribed by 103.90 times on its final day. The offering, valued at Rs 1,377.5 crore, saw nearly 171 million shares bid against the 164 million available, according to data from the NSE.
The portion reserved for Qualified Institutional Buyers was subscribed 130.26 times, while non-institutional investors showed significant interest with a 97.61-time subscription. Retail Individual Investors also participated enthusiastically, with 35.47 times subscription.
Funds from the IPO, which will repay Rs 310 crore in debt, also aim to fuel Rubicon's expansion through acquisitions. The company focuses on R&D for specialty drug-device products, primarily targeting the US market, and recently acquired a manufacturing facility for Rs 149 crore.
(With inputs from agencies.)
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