Rubicon Research Ltd. IPO Details – Price, Date, GMP & Analysis
Rubicon Research Ltd. IPO Overview
Company Overview
Rubicon Research Limited, established in 1999, is a pharmaceutical company focused on developing, manufacturing, and commercializing differentiated formulations. As of March 31, 2024, it had 69 active ANDA and NDA products approved by the US FDA, with 55 commercialized products contributing USD 154.3 million in the US generic pharmaceutical market. The company markets over 250 SKUs to 101 customers, including major wholesalers and GPOs. Rubicon operates two manufacturing facilities in Maharashtra and employs 903 personnel, including 143 scientists. Additionally, it has registered or filed 16 product applications in various countries and provides contract manufacturing services in India, Australia, and New Zealand.
IPO Timeline
Opens
Oct 9
Closes
Oct 13
Allotment
Oct 14
Refunds
Oct 15
Shares Credit
Oct 15
Listing
Oct 16
Opens
Oct 9
Closes
Oct 13
Allotment
Oct 14
Refunds
Oct 15
Shares Credit
Oct 15
Listing
Oct 16
Subscription data will be available when the IPO opens for bidding.
Financial Information
Financial Data Table
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Assets | ₹1,451.43 Cr | ₹1,451.43 Cr | ₹1,109.49 Cr | ₹749.7 Cr |
| EBITDA | ₹267.89 Cr | ₹267.89 Cr | ₹173.09 Cr | ₹43.97 Cr |
| NET Worth | ₹540.98 Cr | ₹540.98 Cr | ₹385 Cr | ₹286.38 Cr |
| Profit After Tax | ₹134.36 Cr | ₹134.36 Cr | ₹91.01 Cr | ₹16.89 Cr |
| Reserves and Surplus | ₹525.57 Cr | ₹525.57 Cr | ₹369.79 Cr | ₹281.31 Cr |
| Total Borrowing | ₹393.17 Cr | ₹393.17 Cr | ₹396.41 Cr | ₹317.91 Cr |
| Total Income | ₹1,296.22 Cr | ₹1,296.22 Cr | ₹872.39 Cr | ₹419 Cr |
Strengths & Risks Analysis
Key Strengths
Competitive advantages and positive aspects
- Holds a strong portfolio of commercialised products, maintaining a market share of over 25% for seven products in the US market.
- R&D capabilities in India and Canada enable product innovation and development, reducing reliance on third parties.
- Established US sales and distribution platform through subsidiaries, covering both non-branded and branded product markets.
- Demonstrates regulatory compliance with US FDA inspections and approvals from international bodies.
IPO Details
Rubicon Research IPO Details
| Employee Discount | ₹46.00 |
| Face Value | ₹1 per share |
| Fresh Issue | 1,03,09,278 shares (aggregating up to ₹500.00 Cr) |
| IPO Date | October 9, 2025 to October 13, 2025 |
| Issue Price Band | ₹461 to ₹485 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Listing Date | [.] |
| Lot Size | 30 Shares |
| Offer for Sale | 1,80,92,762 shares of ₹1 (aggregating up to ₹877.50 Cr) |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Share Holding Post Issue | 16,47,46,529 shares |
| Share Holding Pre Issue | 15,44,37,251 shares |
| Total Issue Size | 2,84,02,040 shares (aggregating up to ₹1,377.50 Cr) |
Rubicon Research IPO Reservation
Rubicon Research IPO Promoter Holding
| Promoter Holding Post Issue | |
| Promoter Holding Pre Issue | 77.67% |
Key Dates
