IPO Details
Key | Value |
---|
IPO Date | October 9, 2025 to October 13, 2025 |
Listing Date | [.] |
Face Value | ₹1 per share |
Issue Price Band | ₹461 to ₹485 per share |
Lot Size | 30 Shares |
Sale Type | Fresh Capital-cum-Offer for Sale |
Total Issue Size | 2,84,02,040 shares (aggregating up to ₹1,377.50 Cr) |
Fresh Issue | 1,03,09,278 shares (aggregating up to ₹500.00 Cr) |
Offer for Sale | 1,80,92,762 shares of ₹1 (aggregating up to ₹877.50 Cr) |
Employee Discount | ₹48.00 |
Issue Type | Bookbuilding IPO |
Listing At | BSE, NSE |
Share Holding Pre Issue | 15,44,37,251 shares |
Share Holding Post Issue | 16,47,46,529 shares |
IPO Important Dates
Key | Value |
---|
IPO Open Date | Thu, Oct 9, 2025 |
IPO Close Date | Mon, Oct 13, 2025 |
Tentative Allotment | Tue, Oct 14, 2025 |
Initiation of Refunds | Wed, Oct 15, 2025 |
Credit of Shares to Demat | Wed, Oct 15, 2025 |
Tentative Listing Date | Thu, Oct 16, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 13, 2025 |
IPO Lot Size
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 |
Financial Information
Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
---|
Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
Assets | 1,647.60 | 1,451.43 | 1,109.49 |
Total Income | 356.95 | 1,296.22 | 872.39 |
Profit After Tax | 43.30 | 134.36 | 91.01 |
EBITDA | 79.74 | 267.89 | 173.09 |
NET Worth | 593.67 | 540.98 | 385.00 |
Reserves and Surplus | 397.50 | 525.57 | 369.79 |
Total Borrowing | 495.78 | 393.17 | 396.41 |
Peers Comparison
Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
---|
Rubicon Research | 8.82 | 8.68 | 35.53 | | 29.02 | |
Sun Pharmaceutical Industries | 45.60 | 45.60 | 300.99 | 34.98 | 16.16 | 5.31 |
Aurobindo Pharma | 59.81 | 59.81 | 560.22 | 18.12 | 11.15 | 1.93 |
Zydus Lifesciences | 44.97 | 44.97 | 238.05 | 21.83 | 21.34 | 4.12 |
Strides Pharma Science | 45.05 | 45.05 | 277.34 | 18.27 | 17.21 | 2.97 |
Dr. Reddy’s Laboratories | 67.89 | 67.79 | 402.78 | 18.05 | 18.53 | 3.04 |
Alembic Pharmaceuticals | 29.68 | 29.68 | 264.09 | 30.43 | 11.63 | 3.41 |
Lupin | 71.95 | 71.69 | 377.18 | 26.64 | 21.00 | 5.07 |
Information about company
Incorporated in 1999, Rubicon Research Limited is a pharmaceutical company engaged in the development, manufacturing, and commercialization of differentiated formulations.
As of June 30, 2025, Rubicon Research had a portfolio of 72 active Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) products approved by the US FDA. The company’s portfolio includes 66 commercialized products, with a US generic pharmaceutical market size of USD 2,455.7 million, of which Rubicon Research Limited contributed USD 195 million in Fiscal 2024.
As of June 30, 2025, the company has 17 new products awaiting US FDA ANDA approval and 63 products at various stages of development.
As of June 30, 2025, the company marketed over 350 SKUs to 96 customers, including three major wholesalers who, account for more than 90% of wholesale drug distribution in the US. The company also supplies group purchasing organizations (GPOs), national pharmacy chains, regional pharmacy chains, and managed care organizations.
Beyond the US market, Rubicon Research Limited, directly or through third-party distribution partners, has registered or filed 48 product applications across Australia, the United Kingdom, Singapore, Saudi Arabia, and the United Arab Emirates and expects to commence commercial activities upon approval. The company also provides contract manufacturing services to select customers in India, Australia, and New Zealand.
Rubicon Research Limited operates three manufacturing facilities in India and two US FDA inspected R&D facilities-one each in India and Canada.
Competitive strengths
Fastest-growing Indian pharmaceutical company amongst peers.
Data-driven product selection framework
Strong R&D capabilities
Robust sales and distribution capabilities in the US
Strong track record of compliance combined with expertise in cost effective manufacturing
Experienced and entrepreneurial management team
Objectives of IPO
The Company Rubicon Research IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (in Millions)
1
Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the Company
3,100
2
Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes
Disclaimer
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Day Wise GMP
Date | Price | GMP | Estimate List Price |
---|
04-10-2025 | 485.00 | 60(12.37%) | 545 |
03-10-2025 | 485.00 | 0(0.00%) | 485 |
02-10-2025 | | 0(%) | (%) |
IPO Reservation
Key | Value |
---|
QIB Shares Offered | Not less than 75% of the Net Offer |
Retail Shares Offered | Not more than 10% of the Net Offer |
NII Shares Offered | Not more than 15% of the Net Offer |