Microsoft-backed Rubrik soared in New York debut

Rubrik Inc, a data management software company part-owned by Microsoft, enjoyed a buoyant New York Stock Exchange debut as its shares surged to a 15% premium following its successful IPO.

Before its float on the NYSE the company raised $752 million in the IPO, with shares priced at $32 each – which was above the predicted range of $28 to $31 per share.

Trading on Thursday sent the stock price to $38.60 in its early trading before the market closed, setting a day-one price of $37.00 for a 15% gain.

Rubrik is led by Bipul Sinha, a co-founder of the business, and it is 8% owned by Microsoft.

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