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Rubicon Research IPO

  • Status: Closed
  • RHP:
  • ₹ 13,830 / 30 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    16 Oct 2025

  • Listing Price

    ₹620.10

  • Listing Change

    27.86%

  • Last Traded Price

    ₹624.30

Rubicon Research IPO Details

  • Open Date

    09 Oct 2025

  • Close Date

    13 Oct 2025

  • Listing Date

    16 Oct 2025

  • IPO Price Range

    ₹ 461 to ₹485

  • IPO Size

    ₹ 1,377.50 Cr

  • Listing Exchange

    BSE NSE

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Timeline Financials SWOT FAQ Contacts

Rubicon Research IPO Timeline

Rubicon Research IPO Subscription Status

Last Updated: 13 October 2025 5:54 PM by 5paisa

Rubicon Research Limited, launching a ₹1,377.50 crores IPO, is a pharmaceutical company focused on developing, manufacturing, and commercialising differentiated formulations. As of 30 June 2025, it had 72 U.S. FDA-approved ANDA and NDA products, with 66 commercialised, generating $195 million in Fiscal 2024. The company markets over 350 SKUs to 96 customers, including major wholesalers, and has 17 products pending US FDA approval. It operates three manufacturing facilities in India, R&D centres in India and Canada, and distributes internationally.
 
Established in: 1999
 
Managing Director:  Pratibha Pilgaonkar

Peers:

Particulars Rubicon Research Limited Sun Pharmaceutical Industries Limited Aurobindo Pharma Limited Zydus Lifesciences Limited Strides Pharma Science Limited Dr. Reddy’s Laboratories Limited Alembic Pharmaceuticals Limited Lupin Limited
Face Value (₹ per share) 1 1 1 1 10 1 2 2
Closing Price on Sept 30, 2025 (₹) N.A 1,594.95 1,083.85 981.70 824.75 1,223.70 900.20 1,910.15
Revenue from Operations (₹ Cr) 1284.27 52578.44 31723.73 23241.50 4565.34 32643.90 6672.08 22707.90
EPS Basic (₹) 8.82 45.60 59.81 44.97 44.05 67.89 29.68 71.95
EPS Diluted (₹) 8.68 45.60 59.81 44.97 44.05 67.79 29.68 71.69
P/E N.A. 34.98 18.12 21.83 18.72 18.05 30.33 26.64
RoNW (%) 29.02 16.16 11.15 21.34 17.51 18.53 11.63 21.00
NAV (₹ per share) 35.63 300.99 560.22 238.05 277.34 402.78 264.09 377.18

Rubicon Research Objectives

The company aims to prepay or repay certain borrowings of  ₹310 crore.
The company will fund acquisitions and corporate purposes.
 

Rubicon Research IPO Size

Types Size
Total IPO Size ₹1,377.50 Cr
Offer For Sale ₹877.50 Cr
Fresh Issue ₹500.00 Cr

Rubicon Research IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 30 13,830
Retail (Max) 13 390 1,89,150
S-HNI (Min) 14 420 1,93,620
S-HNI (MAX) 68 2,040 9,40,440
B-HNI (Min) 69 2,070 9,54,270

Rubicon Research IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB (Ex Anchor) 137.09 85,06,804 1,16,61,67,740 56,559.14
NII (HNI) 102.70 42,54,299 43,69,33,710 21,191.28
bNII (bids above ₹10L) 117.77 28,36,200 33,40,22,190 16,200.08
 sNII (bids below ₹10L) 72.57 14,18,100 10,29,11,520 4,991.21
Retail Investors 37.40 28,36,200 10,60,66,710 5,144.24
Total** 109.35 1,56,37,349 1,70,98,76,370 82,929.00

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars FY23 FY24 FY25
Revenue (₹ Crores) 393.52 853.89 1284.27
EBITDA (₹ Crores) 43.97 173.09 267.89
PAT (₹ Crores) -16.89 91.01 134.36
Particulars FY23 FY24 FY25
Total Assets (₹ Crores) 749.70 1109.49 1451.43
Share Capital (₹ Crores) 5.07 15.21 15.41
Total Borrowing (₹ Crores) 317.91 396.41 393.17
Particulars FY23 FY24 FY25
Net Cash Generated From / (used in) Operating Activities (₹ Crores) -74.75 21.01 159.18
Net Cash Generated From / (used in) Investing Activities (₹ Crores) -33.82 -68.51 -64.81
Net Cash Generated From / (used in) Financing Activities (₹ Crores) 122.81 43.55 -39.81
Net Increase / (Decrease) In Cash And Cash Equivalents (₹ Crores) 14.24 -3.95 54.56


Strengths

1. Strong US FDA-approved product portfolio of 72 drugs.
2. Established presence in US generic pharmaceutical market.
3. Over 350 SKUs marketed to 96 customers.
4. Owns three manufacturing and two R&D facilities.
 

Weaknesses

1. High dependence on few major US wholesalers.
2. Limited visibility in international markets currently.
3. Significant portion of products still under development.
4. Revenue concentrated in US generic pharmaceutical segment.
 

Opportunities

1. Expand commercial activities in international markets.
2. Launch 17 pending US FDA-approved products.
3. Strategic acquisitions to drive inorganic growth.
4. Provide contract manufacturing to new global clients.
 

Threats

1. Intense competition in US generic pharmaceutical market.
2. Regulatory approvals may delay product launches.
3. Currency fluctuations impacting international revenues.
4. Dependence on key distributors for market access.
 

1. Strong US FDA-approved product portfolio and pipeline.
2. Growing presence in international pharmaceutical markets.
3. Opportunities from acquisitions and strategic initiatives.
4. Established manufacturing and R&D infrastructure in India.
 

Rubicon Research operates in the growing US generic pharmaceutical market, valued at over USD 2.45 billion. With a strong portfolio of FDA-approved products, a robust pipeline, and expanding international presence, the company is well-positioned for growth. Increasing demand for cost-effective medicines, strategic acquisitions, and contract manufacturing opportunities further enhance its potential. Its integrated R&D and manufacturing capabilities support innovation and scalable expansion globally.

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FAQs

Rubicon Research IPO opens from October 9, 2025 to October 13, 2025.

The size of  Rubicon Research IPO is ₹1,377.50 Cr.
 

The price band of  Rubicon Research IPO is fixed at ₹461 to ₹485 per share.
 

To apply for Rubicon Research IPO, follow the steps given below:
 
●    Login to your 5paisa demat account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Rubicon Research   IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
 
You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of  Rubicon Research IPO is of 30 shares and the investment required is ₹14,550.
 

The share allotment date of Rubicon Research IPO is October 146, 2025
 

The Rubicon Research IPO will likely be listed on October 16, 2025.
 

Axis Capital Ltd is the book running lead manager for Rubicon Research IPO.
 

Rubicon Research IPO plans to utilise the raised capital from the IPO for:
● The company aims to prepay or repay certain borrowings of  ₹310 crore.
● The company will fund acquisitions and corporate purposes.