Rubicon Research IPO
Rubicon Research IPO — date, price band, lot size & details 2025
Rubicon Research listed on 16 Oct 2025 at ₹620, 27.8% above the ₹485 issue price.
Rubicon Research Limited is an India-based pharmaceutical company engaged in manufacturing and marketing of generic medicines, mainly for regulated markets like the US. The company focuses on value-added formulations and specialty products. It is coming up with an IPO to raise funds for business expansion, debt repayment, and general corporate purposes. The IPO will help the company strengthen its market presence and improve financial position going forward.
Stock price
Rubicon Research is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 3 October.
- Open 09 Oct 2025
- Close 13 Oct 2025
- Allotment 14 Oct 2025
- Refund/credit 15 Oct 2025
- Listing 16 Oct 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 13 Oct, 2025 |
|---|---|
| Price Band | ₹461 – ₹485 |
| Face Value | ₹1 |
| Lot Size | 30 Shares |
| Issue Size | ₹1,378 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 46.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,550 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹485 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹14,550 |
| Retail (max) | 13 | 390 | ₹1,89,150 |
| S-HNI (min) | 14 | 420 | ₹2,03,700 |
| S-HNI (max) | 68 | 2,040 | ₹9,89,400 |
| B-HNI (min) | 69 | 2,070 | ₹10,03,950 |
Three years of numbers
All figures in ₹ crore, as reported in the Rubicon Research offer document.
| Metric | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 356.95 | 1,296.22 | 872.39 |
| OPM % | 19.9 | 18.1 | |
| EBITDA | 79.74 | 267.89 | 173.09 |
| Net Profit | 43.30 | 134.36 | 91.01 |
| Debt | 495.78 | 393.17 | 396.41 |
| Assets | 1,647.60 | 1,451.43 | 1,109.49 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Rubicon Research RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Rubicon Research IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹10.51 |
| P/E Ratio (x) | 46.13 |
| Market Cap at Offer Price (₹ Cr) | ₹1,998.14 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹485 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹550.39 Cr of the issue is earmarked to named objects.
About the company
The company offers a range of pharmaceutical products, including oral solids, injectables, and other specialty formulations, targeting therapeutic segments such as central nervous system (CNS), cardiovascular, and oncology. Rubicon Research is promoted by experienced professionals with deep industry expertise, who have played a key role in shaping its growth strategy and global presence. Its business model is driven by product development partnerships, contract manufacturing, and direct sales in key markets, enabling it to generate revenue through both proprietary products and collaborations with global pharmaceutical companies.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
022 61414000
The bankers & the filings
Who is running the book, and the documents this page is built from.
Rubicon Research IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
32 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
SBI Capital Markets Ltd.
14 issues handledBest listing: Indo-MIM (+44.3%). Weakest: Central Mine Planning & Design Institute (-7.0%).
Axis Capital
28 issues handledBest listing: Moneyview (+61.8%). Weakest: Clean Max Enviro Energy Solutions (-8.8%).
IIFL Capital Services Limited
29 issues handledBest listing: Moneyview (+61.8%). Weakest: Purple Style Labs (-7.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rubicon Research?
The current Grey Market Premium is ₹0.
What is the Rubicon Research IPO price band?
₹461 to ₹485, on a face value of ₹1.
When is the allotment?
The basis of allotment is 14 October 2025, with listing on 16 October 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
