Rubicon Research IPO
Rubicon Research IPO is listed on BSE and NSE, priced at ₹461–₹485 per share. The stock debuted at ₹620, delivering a listing gain of 27.8%. The IPO had a lot size of ₹30 shares and a minimum investment of ₹14,550.
Rubicon Research Limited IPO
- IPO Dates
- Oct 9, 2025 – Oct 13, 2025
- Price band
- ₹461-485 per equity share
- Minimum Investment
- ₹14,550
- Issue size
- ₹1377.5 Cr
- Lot size
- 30
- Allotment Date
- Oct 14, 2025
- Listing
- Oct 16, 2025
- Listing At
- BSE, NSE
IPO timeline
-
Oct 9, 2025
Open Date
Completed
-
Oct 13, 2025
Close Date
Completed
-
Oct 14, 2025
Allotment Date
Completed
-
Oct 16, 2025
Listing Date
Completed
Price Summary
- Last closing
- 960.05 (97.95%)
- 52 week high
- 1,013.40
- 52 week low
- 570.75
- Last update
Rubicon Research IPO Subscription Details
View Subscription DetailsRubicon Research IPO subscription status shows demand across QIB, NII, and retail categories, helping investors understand participation levels.
Last updated:Rubicon Research IPO Essentials
Rubicon Research IPO Details
Rubicon Research IPO is priced at ₹461-485 per share with a total issue size of 1377.5 crore. The IPO has a lot size of 30 shares and is listed on BSE and NSE.
- Issue price
- ₹461-485 per equity share
- Lot size
- 30 shares
- Face value
- ₹1 Per Equity Share
- Issue size
- Total 1,377.50 Cr :
#Fresh Issue : 1,03,09,278 shares(aggregating up to ₹500.00 Cr) +
#OFS : 1,80,92,762 shares of ₹1(aggregating up to ₹877.50 Cr) - Total issue size
- 2,84,02,040 shares
(aggregating up to ₹1377.5 crore) - Fresh issue
- 1,03,09,278 shares
(aggregating up to ₹500 crore) - Offer for sale (OFS)
- 1,80,92,762 shares
(aggregating up to ₹877.5 crore) - Listing at
- BSE, NSE
- List price
- 620.0(NSE)
- Listing date
- Registrar
- Axis Capital Ltd
IIFL Capital Services Ltd
JM Financial Ltd
SBI Capital Markets Ltd - Lead manager
-
MUFG Intime India Pvt.Ltd.
Market Lot Size
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹14,550 |
| Retail(max) | 13 | 390 | ₹1,89,150 |
| sHNI(min) | 14 | 420 | ₹2,03,700 |
| sHNI(max) | 68 | 2,040 | ₹9,89,400 |
| sHNI(min) | 69 | 2,070 | ₹10,03,950 |
Rubicon Research IPO Reservation
Rubicon Research IPO reservation details show category-wise allocation of shares. Out of the total 2,84,02,042 shares, approximately 29.95% are reserved for QIB, 14.98% for NII, 9.99% for retail investors, 0.14% for employees, and 44.94% for anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,27,64,691 (44.94%) | |
| QIB Shares Offered | 85,06,804 (29.95%) | |
| NII (HNI) Shares Offered | 42,54,299 (14.98%) | |
| bHNI > ₹10L | 28,36,200 (9.99%) | 6754 |
| sHNI < ₹10L | 14,18,099 (NA%) | 3377 |
| Retail Shares Offered | 2,83,62,00 (9.99%) | 94553 |
| Employee Shares Offered | 40,046 (0.14%) | |
| Total Shares Offered | 2,84,02,042 (100%) |
Rubicon Research IPO Analytics
Rubicon Research IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
Rubicon Research IPO Subscription Status
Rubicon Research IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO is currently subscribed 109.33x, indicating strong demand across investor categories.
| As on | QIB |
NII
bHNI
sHNI
|
Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 85,06,804 |
42,54,299
28,36,200
14,18,100
|
28,36,200 | 1,56,37,349 |
|
Day 1
09-10-25 05:00 PM
|
0.27 x |
0.49x
0.40x
0.68x
|
1.47 x | 0.55 x |
|
Day 2
10-10-25 05:00 PM
|
2.22 x |
1.93x
1.60x
2.58x
|
4.19 x | 2.50 x |
|
Day 3
13-10-25 05:00 PM
|
137.09 x |
102.70x
117.77x
72.57x
|
37.33 x | 109.33 x |
|
Total No. of Applications
|
bHNI | sHNI | Retail |
|---|---|---|---|
| 3227763 (Approx) | 23.02x | 69.33x | 29.54x |
Rubicon Research Valuations
Earnings
- EPS Pre IPO
- ₹8.70/-
- EPS Post IPO
- ₹10.51/-
- P/E Pre IPO
- 55.75
- P/E Post IPO
- 46.13
Returns
- ROE
- 29.02%
- ROCE
- 26.45%
- RoNW
- 29.02%
- PAT Margin
- 10.37%
Fundamentals
- Debt / Equity
- 0.73
- Market Cap
- 7990.21 Cr.
Rubicon Research Financials( In Crs.)
| 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|---|
| Assets | 1647.60 | 1451.43 | 1109.49 | 749.70 |
| Revenue | 356.95 | 1296.22 | 872.39 | 419.00 |
| Profit After Tax | 43.30 | 134.36 | 91.01 | -16.89 |
| Net Worth | 593.67 | 540.98 | 385.00 | 286.38 |
| Reserves & Surplus | 397.50 | 525.57 | 369.79 | 281.31 |
| Total Borrowing | 495.78 | 393.17 | 396.41 | 317.91 |
Rubicon Research Company & Offer Insights
About Rubicon Research
Founded in 1999, Rubicon Research Limited is a pharmaceutical organization that deals with the development, manufacturing, and marketing of differentiated formulation.
As of March 31, 2024, Rubicon Research Limited had an approved portfolio of 69 active Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) products of the US FDA. The portfolio comprises 55 commercialized products of which the US generic pharmaceutical market size is USD 2,386.6 million and which has contributed USD 154.3 million by Rubicon Research Limited during Fiscal 2024.
Rubicon Research Promoter(s)
General Atlantic Singapore RR Pte. Ltd., Pratibha Pilgaonkar, Sudhir Dhirendra Pilgaonkar, Parag Suganchand Sancheti, Surabhi Parag Sancheti and Sumant Sudhir Pilgaonkar are the company's promoters of Rubicon Research.
Rubicon Research IPO Issue Objectives
- •
- Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the Company
- •
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes
Rubicon Research IPO - Anchor Investors
Rubicon Research raises Rs 619 crore from 32 anchor investors prior to Rs 1,377 crore IPO.
International marquee investors such as Goldman Sachs, Fidelity, Nomura Funds, Amansa Holdings, Societe Generale, University of Notre Dame, and GP Emerging Markets Strategies.
Rubicon Research in its exchange filing on Wednesday reported that it has completed allotment of 1,27,64,691 equity shares to anchor investors at Rs 485 per share.
Out of this, 49.56 lakh shares (38.83 percent of the anchor allotment) valued at Rs 240.4 crore went to eight domestic mutual funds such as PGIM India, Mirae Asset, Bajaj Finserv, Kotak Mahindra AMC, HDFC AMC, and ICICI Prudential Mutual Fund.
Rubicon Research IPO - Peers Comparison
| P/B Ratio | P/E Ratio | RoNW | Revenue(in Cr.) | |
|---|---|---|---|---|
| Rubicon Research | N/A | N/A | 29.02% | 1284 |
| Sun Pharma | 5.31 | 34.9 | 16.1% | 52578 |
| Aurobindo Pharma | 1.93 | 18.1 | 11.1% | 31723 |
| Zydus Lifesciences | 4.1 | 21.8 | 21.3% | 23241 |
| Strides Pharma | 2.9 | 18.2 | 17.2% | 4564 |
| Dr. Reddy’s Lab | 3.0 | 18.05 | 18.5% | 32643 |
| Alembic Pharma | 3.4 | 30.4 | 11.6% | 6672 |
| Lupin | 5.0 | 26.6 | 21.0% | 22709 |
Rubicon Research IPO - Strengths and Risks
Rubicon Research IPO strengths and risks highlight key business factors, financial position, and market sentiment that may impact investor interest.
Strengths
Risks
Contact Information
Contact Details
Rubicon Research
022 61414000
MedOne House, B-75, Road No. 33, Wagle Estate, Thane West-400604, Maharashtra, India Thane, Maharashtra, 400604
Registrar Contact Details
MUFG Intime India Private Limited (Link Intime)
+91-22-4918 6270
Frequently Asked Questions
Click any question to reveal the answer
Rubicon Research IPO is a book-built IPO worth ₹1377.5 crore. The price band is ₹461–₹485 per share. The IPO opens on Oct 9, 2025 and closes on Oct 13, 2025. It will be listed on BSE and NSE. Axis Capital Ltd IIFL Capital Services Ltd JM Financial Ltd SBI Capital Markets Ltd is the registrar.
The price band of Rubicon Research IPO is ₹461 to ₹485 per share.
The lot size of Rubicon Research IPO is 30 shares.
The minimum investment for Rubicon Research IPO is approximately ₹14,550 based on the upper price band .
Rubicon Research IPO opens on Oct 9, 2025 and closes on Oct 13, 2025.
The allotment date of Rubicon Research IPO is Oct 14, 2025.
Rubicon Research IPO is expected to be listed on Oct 16, 2025, on BSE and NSE .
Rubicon Research IPO listed on Oct 16, 2025. It was issued at ₹620.0(NSE) and is currently around ₹960.05 as on 14-May-2026 3:30 PM, which is approximately 97.9% versus issue price. The 52-week high is ₹1,013.40.
Based on listing and post-listing performance, Rubicon Research IPO delivered around 97.9% over issue price. Whether it was worth applying depends on your risk profile, allocation, and holding horizon.
To buy Rubicon Research IPO shares after listing, log in to your broker app (such as Zerodha, Angel One, Groww, Upstox, ICICI Direct), search the stock symbol, place a delivery/CNC order, and confirm quantity and price.
Rubicon Research IPO valuation snapshot: P/E 46.13, EPS ₹10.51/-, P/B N/A, RoNW 29.02%, and market cap 7990.21 Cr.
To apply for Rubicon Research IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of Rubicon Research IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for Rubicon Research IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check Rubicon Research IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Rubicon Research IPO allotment status on IPO Ji for quick and easy access.