Rubicon Research Limited IPO
Rubicon Research Limited IPO
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Following its successful public offering, Rubicon Research Limited's made its market debut on 16-10-2025 and is now actively traded on the NSE, BSEplatform. The IPO mobilized 2,84,02,040 Shares in total capital, including 1,03,09,278 Shares in primary equity infusion and ₹877.50 Cr in secondary share sales.
The offering was structured with a price band of ₹461 to ₹485 and minimum investment lots of 30 shares. Investor participation during the subscription window from 09-10-2025 to 13-10-2025 demonstrated market confidence in the company's prospects.
The allotment process concluded on 14-10-2025, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Rubicon Research IPO About Company
Rubicon Research Limited, incorporated in 1999, is a pharmaceutical company focused on developing, manufacturing, and commercializing differentiated formulations. As of June 30, 2025, it has 72 US FDA-approved ANDA and NDA products, with 66 commercialized in a US generic market worth USD 2,455.7 million, contributing USD 195 million in Fiscal 2024. The company has 17 products awaiting US FDA approval and 63 in development, marketing over 350 SKUs to 96 customers, including major wholesalers, pharmacy chains, GPOs, and managed care organizations. Globally, Rubicon has registered or filed 48 products across Australia, the UK, Singapore, Saudi Arabia, and the UAE, planning commercial launch upon approval, and offers contract manufacturing in India, Australia, and New Zealand. Its operations include three manufacturing facilities in India and two US FDA-inspected R&D centers in India and Canada.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Rubicon Research IPO Strength Factors
- Robust Product Portfolio: Data-driven selection creates a balanced mix of new and specialty products, helping manage pricing pressures.
- Strong R&D Capabilities: Continuous investment in research enables development of complex, high-revenue products.
- Proven Compliance & Quality Manufacturing: Maintains regulatory standards with cost-effective production and strong quality systems.
Rubicon Research IPO Risk Factors
- Regulatory & Compliance Risks: Strict manufacturing rules may cause recalls, failed inspections, or plant closures, affecting sales and new launches.
- Financial Performance Risks: Past losses mean profitability depends on growing revenue and managing costs.
- High Capital Requirements: Large working capital and investments are needed; funding issues could disrupt operations.
Rubicon Research IPO Lead Manager(s)
- Axis Capital Limited
- IIFL Securities Limited
- Jm Financial Limited
- SBI Capital Markets Limited
Rubicon Research IPO Promoter(s)
- Pratibha Pilgaonkar
- Sudhir Dhirendra Pilgaonkar
- Parag Suganchand Sancheti
- Surabhi Parag Sancheti
- Sumant Sudhir Pilgaonkar
Rubicon Research IPO FAQs
Rubicon Research Limited IPO subscribed 109.33 times. The public issue subscribed 37.33 times in the retail category,137.09times in QIB, and 117.77 times in the HNI (10+) category byNovember 21, 2025 8:55:37 AM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Rubicon Research IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Rubicon Research IPO FAQs
Track all the latest updates and news of IPO.
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The basis of allotment for Rubicon Research Limited IPO is available now.
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