IIT alumni-founded Rubrik shares close 16% higher on US debut

IIT alumni-founded data security company Rubrik's shares closed around 16% higher at $37 on their New York Stock Exchange debut on Thursday. The stock had opened at $38.6, giving the Microsoft-backed company a valuation of around $6.77 billion. Bipul Sinha, Arvind Nithrakashyap, Arvind Jain and Soham Mazumdar are the founders of Rubrik.