Rubicon Research share price: Stock makes robust debut on NSE, BSE; here's how much investors made per lot

Rubicon Research share price: Shares of pharmaceutical player Rubicon Research made a robust debut on the stock exchanges on Thursday, October 16.

The stock listed at ₹620 apiece on the National Stock Exchange (NSE). This reflects a premium of 27.84% over the IPO issue price of ₹485 per share.

On the BSE, it started trading at ₹620.10, up 27.86% from the issue price.

Rubicon Research share price: Here's how much investors made per lot

The ₹1,377.50 crore IPO was a mix of new shares worth ₹500 crore and an offer for sale of ₹877.50 crore.

The initial public offering got subscribed a massive 103.90 times. It secured bids for 1,70,96,80,620 equity shares against 1,64,55,670 shares on offer, according to the NSE data.

Funds to the tune of ₹310 crore would be allocated for debt clearance, and a part would be used for inorganic growth via acquisitions, strategic initiatives and corporate general purposes.

Rubicon Research Ltd is a pharmaceutical formulation company with a focus on innovation and research and development (R&D). Its portfolio includes an increasing number of speciality products and drug-device combination products targeting regulated markets, particularly the United States.

The company has also been expanding its manufacturing footprint. In June, it acquired Alkem Laboratories' formulations facility in Pithampur, Madhya Pradesh, in an all-cash deal worth ₹149 crore.

It currently operates two US FDA-inspected R&D facilities -- one in India and another in Canada -- along with two manufacturing plants in India accredited by multiple regulatory authorities, including the USFDA, Maharashtra FDA (WHO-GMP), and Health Canada.