Rubicon Research IPO

Rubicon Research Ltd. is launching a book-built IPO worth Rs 1,377.50 crores, comprising a fresh issue of Rs 500.00 crores and an Offer for Sale of Rs 877.50 crores. The IPO subscription opens on October 9, 2025, and closes on October 13, 2025. Allotment is scheduled for October 14, 2025, with listing on BSE and NSE set for October 16, 2025. The price band is Rs 461–485 per share, with a lot size of 30 shares, requiring a retail investment of Rs 14,550. sNII investment stands at Rs 2,03,700, while bNII requires Rs 10,03,950. Axis Capital is the lead manager.

Rubicon Research IPO Details

Check out the issue details for Rubicon Research IPO as disclosed in SEBI.

IPO Price

₹ 485

Price Band

₹ 461 - 485

Issue Size

1377.5 Cr.

Issue Type

Book Built

Open

2025-10-09

Close

2025-10-13

Listingprice

₹ 620

ListingGain

27.84%

Listing Date

2025-10-16

CMP

₹ 603.85

Current Return

24.51%

Rubicon Research News

Rubicon Research’s arm enters into definitive agreement with GEn1E Lifesciences Inc23 Oct 2025, 10:39AM Rubicon Research lists with 28% premium on the BSE16 Oct 2025, 10:27AM Rubicon Research coming with an IPO to raise upto Rs 1449 crore7 Oct 2025, 4:58PM Rubicon Research gets SEBI's nod for Rs 1,085 crore IPO 6 Nov 2024, 2:40PM

Company Financials

You can get the following financial statements of Rubicon Research as of now.

Company Name

Rubicon Research

Exchange

NSE: RUBICON BSE: 544578

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

Rubicon Research IPO Details

The details about the Rubicon Research IPO are as follows:

  • The issue size of the IPO is Rs 1,377.50 Cr.
  • The price band for Rubicon Research Ltd. IPO is Rs 461 to Rs 485.
  • The shares of Rubicon Research Ltd. IPO will list on BSE and NSE.
  • The latest tentative GMP of Rubicon Research Ltd. IPO is Rs 96.
  • The shares of Rubicon Research Ltd. IPO are subscribed 109.35 Times.

 

Rubicon Research IPO Valuation

The approximate valuation of Rubicon Research IPO based on its price band and RHP is:

Particulars Value
Upper Price Band Rs 485
Existing Shares (Qty) 15.44 Cr
Fresh Issue Rs 500.00 Cr
Market Cap Rs 7988.4 Cr
EPS (FY25) Rs 8.82
PE Ratio 54.98x
Industry PE 24.10x

 

Rubicon Research IPO Issue Size

Rubicon Research Ltd. IPO issue size is Rs 1,377.50 Cr.

Issue Amount
Fresh Issue Rs 500.00 Cr
Offer For Sale Rs 877.50 Cr

 

Rubicon Research IPO Market Lot

An individual can apply for a minimum of 1 lot of 30 shares and a maximum of 13 lots (390 shares). Find the details below:

Application Lot Shares Amount
Retail Minimum 1 30 Rs 14,550
Retail Maximum 13 390 Rs 1,89,150

 

Rubicon Research IPO Share Offer

The shares of Rubicon Research Ltd. IPO are subscribed 109.35 Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Not less than 75%
Non-Institutional Not more than 15%
Retail Individual Not more than 10%

 

Rubicon Research IPO GMP (Grey Market Premium)

As on GMP (Tentative)
9 October 2025 Rs 94
10 October 2025 Rs 100
13 October 2025 Rs 96

Rubicon Research IPO GMP is purely for informational purposes. Invest in an IPO after thoroughly researching on your own.

Rubicon Research IPO Dates

Find below the dates for Rubicon Research IPO

Schedule Date
Basis of Allotment 14 Oct 2025
Refunds 15 Oct 2025
Credit to Demat Account 15 Oct 2025
IPO Listing Date 16 Oct 2025

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Net Sales 331.35 400.04 407.48 630.51 1073.84
Total Expenditure 219.93 359.96 366.03 557.39 803.95
Operating Profit 111.42 40.08 41.45 73.12 269.9
Other Income 10.74 17.38 28.4 26.43 19.68
Interest 9 9.02 18.73 30.53 34.29
Depreciation 27.77 31.51 32.84 34.95 32.01
Exceptional Items 0 0 0 0 0
Profit Before Tax 85.39 16.92 18.27 34.07 223.28
Provision for Tax 32.43 0.24 5.55 9.73 55.74
Net Profit 52.96 16.68 12.72 24.35 167.54
Adjusted EPS (Rs.) 0.35 0.11 0.08 0.16 1.09

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 5.07 5.07 5.07 15.21 15.41
Total Reserves 406.39 423.54 438.43 460.66 652.37
Borrowings 38.13 63.42 97.28 92.61 64.47
Other N/C liabilities 11.87 5.63 4.74 15.96 18.37
Current liabilities 108.13 180.67 322.16 431.25 588.54
Total Liabilities 569.6 678.34 867.67 1015.68 1339.17
Assets
Net Block 176.94 180.62 182.92 231.74 259.32
Capital WIP 4.42 2.64 24.51 9.58 6.16
Intangible WIP 0 0 0 0.1 0.24
Investments 18.52 18.62 25.54 33.71 35.71
Loans & Advances 12.57 71.2 15.03 134.17 40.36
Other N/C Assets 3.61 19.38 24.46 35.86 47.06
Current Assets 353.53 385.88 595.21 570.51 950.32
Total Assets 569.6 678.34 867.67 1015.68 1339.17
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Profit from operations 85.39 16.92 18.27 34.07 223.28
Adjustment 26.29 24.86 39.66 51.53 68.35
Changes in Assets & Liabilities -30.53 -70.57 -136.45 13.49 -235.12
Tax Paid -33.44 -8.33 -0.5 -15.89 -26.86
Operating Cash Flow 46.85 -37.12 -79.02 83.2 29.65
Investing Cash Flow -28.88 -77.18 -32.44 -130.36 -10.22
Financing Cash Flow 52.18 65.22 123.65 45.86 -34.05
Net Cash Flow 70.14 -49.08 12.19 -1.29 -14.62

Rubicon Research IPO: Date, Price Band, GMP & Details

Rubicon Research, a global pharmaceutical company, is launching its Initial Public Offering (IPO) on October 9, 2025. The public issue, which will close on October 13, 2025, aims to raise approximately Rs 1,377.50 crore through a combination of a fresh issue and an offer for sale.

About Rubicon Research Ltd.

Founded in 1999 and headquartered in Thane, India, Rubicon Research is a pharmaceutical company that focuses on developing and supplying innovative pharmaceutical products globally. The company has a diverse portfolio that includes various dosage forms such as oral solids, liquids, nasal sprays, ophthalmic solutions, injectables, and drug-device combinations.

Key Business Highlights

  • Strong R&D and Manufacturing Base: Rubicon Research operates two US FDA-inspected research and development facilities in India and Canada. Additionally, it has two manufacturing plants in Maharashtra, India, which are accredited by multiple regulatory agencies.

  • Robust Product Pipeline: As of March 31, 2024, the company had 69 products approved by the US FDA, with 19 applications under review and another 46 products in various stages of development.

Rubicon Research IPO Details (2025)

  • IPO Open Date: October 9, 2025

  • IPO Close Date: October 13, 2025

  • Listing Date: October 16, 2025 (Tentative)

  • Price Band: Rs 461 – Rs 485 per share

  • Issue Size: Rs 1,377.50 crore

  • Fresh Issue: Rs 500 crore (1.03 crore shares)

  • Offer for Sale (OFS): Rs 877.50 crore (1.81 crore shares)

  • Lot Size: 30 Shares

  • Minimum Investment (Retail): Rs 14,550

IPO Structure & Utilisation

  • Offer for Sale: The OFS component will see the promoter, General Atlantic Singapore RR, offloading shares.

  • Reservation: The issue has a reservation of 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.

  • Use of Proceeds: The funds raised from the fresh issue will be utilised for acquisitions, reduction of debt, and meeting working capital requirements. The remaining amount will be used for general corporate purposes.

Key Dates & Timeline

  • Anchor Investor Bidding: October 8, 2025

  • IPO Opening: October 9, 2025

  • IPO Closing: October 13, 2025

  • Allotment Finalisation: October 14, 2025 (Tentative)

  • Listing on BSE & NSE: October 16, 2025 (Tentative)

Frequently Asked Questions (FAQs) about Rubicon Research IPO

Q1: What are the key dates for the Rubicon Research IPO?
The IPO is open for subscription from October 9 to October 13, 2025. The tentative listing date is October 16, 2025.

Q2: What is the price band for the Rubicon Research IPO?
The price band has been set at Rs 461 to Rs 485 per share.

Q3: What will the funds raised be used for?
The proceeds from the fresh issue will be used for acquisitions, debt reduction, and working capital needs.

Q4: Who are the book-running lead managers for the IPO?
The book-running lead managers include Axis Capital, IIFL Capital Services, JM Financial, and SBI Capital Markets. The registrar for the issue is MUFG Intime India Pvt. Ltd

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