Rubicon Research IPO opens: Check price band, GMP, reviews, key dates here

Pharmaceuticals company Rubicon Research has launched its initial public offering (IPO) to raise ₹1,377.50 crore from the public subscription today. Ahead of the launch, the company said that it has already raised ₹619 crore from anchor investors as bidding concluded on October 8. The anchor book saw participation from both foreign and domestic institutional investors including Goldman Sachs, HDFC Mutual Fund (MF), Fidelity Funds, ICICI Prudential MF, Kotak Mahindra MF, Amansa Holdings, and Aranda Investments Pte.

 

As the issue opens for subscription today, here are the key details of Rubicon Research IPO that investors should be aware of before subscribing to Rubicon Research IPO:

 

Rubicon Research IPO issue size

The public issue comprises a fresh issue of 1.3 million shares worth ₹500 crore and an offer for sale (OFS) of up to 18.1 million shares by promoter General Atlantic Singapore, worth ₹877.50 crore. The pharma company has reserved not more than 75 per cent of the offer for qualified institutional buyers (QIBs), not more than 15 per cent for non-institutional investors, and not more than 10 per cent for retail buyers.

Rubicon Research IPO Price band, lot size

Rubicon Research IPO is being offered at a price band of ₹461–₹485 per share, with a minimum lot size of 30 shares. Therefore, investors can bid for a minimum of 30 shares and in multiples thereof.

 

A retail investor would need ₹14,550 to bid for a minimum of one lot of 30 equity shares of Rubicon Research IPO. To bid for a maximum of 13 lots or 390 shares, a retail investor would need ₹1,89,150, taking the upper price band into consideration.  ALSO READ | Subscribed to Tata Capital IPO? Here's how to check allotment status online 

Rubicon Research IPO grey market premium (GMP) today

The grey market trends suggest a favourable sentiment for the public offering ahead of its launch. Sources tracking unofficial market activities have revealed that Rubicon Research’s unlisted shares are being traded at ₹565 per share, reflecting a grey market premium (GMP) of 16.49 per cent over the upper price band of ₹485 per share.

Rubicon Research IPO review

Analysts have also shared favourable views on the IPO. Analysts at Arihant Capital have assigned a Subscribe rating on the offering, while those at SMIFS have assigned Subscribe - long term. READ MORE

Rubicon Research IPO timeline

The maiden share sale of the pharma company is set to remain available for subscription until October 13, 2025. Following that, the basis of allotment of Rubicon Research IPO shares is expected to be finalised on October 14. Successful allottees will receive the company's shares into their demat accounts tentatively by October 15.

 

Rubicon Research’s shares are tentatively slated to list on BSE and NSE on October 16, 2025.

Rubicon Research IPO objective

Rubicon Research, as outlined in its Red Herring Prospectus (RHP), will not receive any proceeds from the OFS portion of the issue, as the funds will be directed to General Atlantic Singapore for the sale of its equity stake. From the fresh issue portion, the company plans to utilise the funds for the prepayment or scheduled repayment of outstanding borrowings, as well as for funding inorganic growth through acquisitions and other strategic initiatives. A portion of the funds will also be allocated for general corporate purposes.

About Rubicon Research

Rubicon Research develops, manufactures, and commercialises branded specialty and generic prescription pharmaceuticals with a particular focus on the US market since 2012. The company has a robust manufacturing setup in Maharashtra, India, and R&D centers in both India and Canada. It commercialised 55 products in the US by FY24 and has consistently ranked among the top 10 Indian firms by total ANDA approvals.