The initial public offering of Rubicon Research Ltd. was subscribed over a 100 times in the third day of subscription.
The company is looking to raise Rs 1,337 crore, with Rs 500 crore being raised from fresh issues. The offer-for-sale component stands at around Rs 877 crore.
The company has collected Rs 619 crore from anchor investors, ahead of the IPO.
The price band for the IPO is set between Rs 461 and Rs 485 per share, meaning retail investors can bid for a single lot of 30 shares, which comes down to Rs 14,550.
The share allotment status for Rubicon Research is expected to be finalised on October 14. The company will transfer shares to the demat accounts of successful bidders on October 15 and refunds for non-allottees will be done on the same day.
Shares of Rubicon Research are scheduled to list on the BSE and NSE on October 16.
The pharma company, which manufactures differentiated formulations and has three facilities in India, will use proceeds from the IPO to clear debt and fund inorganic growth.
