Rubicon Research IPO

Incorporated in 1999, Rubicon Research Limited is a pharmaceutical company focused on developing, manufacturing, and commercialising differentiated formulations. The company has 72 US FDA approved products, 17 pending approvals, and 63 products in pipeline. Its portfolio includes 350+ SKUs marketed to 96 customers worldwide, with significant presence in the US, UK, UAE, Australia, and Singapore. Rubicon operates three manufacturing facilities in India and two US FDA-inspected R&D centres in India and Canada.

Rubicon Research Limited IPO Overview

Rubicon Research Ltd. IPO is a book-built issue worth ₹1,377.50 crores, comprising a fresh issue of 1.03 crore shares aggregating to ₹500.00 crores and an offer for sale of 1.81 crore shares aggregating to ₹877.50 crores.

The IPO will open for subscription on October 9, 2025, and close on October 13, 2025. The basis of allotment is expected to be finalized on October 14, 2025, with the tentative listing date on October 16, 2025, at both BSE and NSE.

The price band for the issue has been fixed at ₹461 to ₹485 per share, with a lot size of 30 shares. For retail investors, the minimum investment required is ₹14,550 (30 shares at the upper price band). For sNII investors, the minimum application is 14 lots (420 shares), amounting to ₹2,03,700, while for bNII investors, it is 69 lots (2,070 shares), amounting to ₹10,03,950. Axis Capital Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.

Rubicon Research Limited IPO Details

Rubicon Research IPO Reservation

Rubicon Research IPO Lot Size

Promoter Holding

Valuation Overview (KPIs)

Objectives of the Issue

• Prepayment or repayment of outstanding borrowings (₹3,100 Million).

• Fund acquisitions and strategic growth initiatives.

• Strengthen R&D and expand manufacturing capacity.

• General corporate purposes, working capital, and operational needs.

Key Financials (₹ Crores)