Rubicon Research Limited IPO
Rubicon Research Limited IPO is a Mainboard book building IPO. Issue size is 1,377.50 Cr. Price band is ₹461 to ₹485 per share. Minimum investment is ₹14,550. Lot size is 30 shares. Open from 9 Oct 2025 to 13 Oct 2025. Allotment on 14 Oct 2025. Listing on 16 Oct 2025 at BSE, NSE. Managed by Axis Capital Ltd., IIFL Capital Services Ltd., JM Financial Ltd., and SBI Capital Markets Ltd. Registrar: MUFG Intime India Private Limited (Link Intime). Key details for GMP, subscription, price, allotment, and listing in one place.
Rubicon Research Limited IPO overview
Rubicon Research Limited IPO Key figures
Price band, lot, minimum application, and issue window at a glance.
Rubicon Research Limited IPO important dates
Rubicon Research Limited IPO lot size
| Category | 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 (UPI) | 34 | 1,020 | ₹4,94,700 |
| S-HNI (Max) | 68 | 2,040 | ₹9,89,400 |
| B-HNI (Min) | 69 | 2,070 | ₹10,03,950 |
About Rubicon Research Limited IPO
From the company / RHP narrative.
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
Objective of the issue
How the issuer plans to use IPO proceeds.
Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes
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Registrar
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Issue details
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