Rubicon Research IPO GMP, Price, Allotment, Profit Estimate 2024

Rubicon Research IPO Description – Established in 1999, Rubicon Research is a specialty pharmaceutical formulations company with a complete focus on regulated markets, particularly the United States, making it unique among its Indian peers. Between Fiscal 2023 and 2025, it recorded the fastest growth among Indian pharmaceutical formulation companies, achieving a revenue CAGR of 75.89%, over seven times higher than the industry average. Its revenues tripled over this period, supported by an expanding portfolio of U.S. FDA-approved products.

As of 30 June 2025, Rubicon and its subsidiaries had 72 active ANDAs, nine NDAs, and one OTC monograph approved, with 17 new products under review. The company commercialized 70 out of 81 approvals, achieving an industry-leading commercialization rate of 86.4%. Its U.S. product portfolio includes 66 marketed products contributing USD 195 million in Fiscal 2025 revenues from a USD 2.46 billion market. Notably, Rubicon held market shares above 25% for nine products in 2025.

Therapy contributions were led by CNS and CVS products (41.85% of FY25 revenue), followed by analgesics (27.79%). Rubicon’s strategic acquisitions, including Validus Pharmaceuticals, strengthened its branded pipeline, with differentiated products like Equetro® and Raldesy®. With 170 scientists across India and Canada.

Promoters of Rubicon Research – General Atlantic Singapore RR Pte. Ltd., Pratibha Pilgaonkar, Sudhir Dhirendra Pilgaonkar, Parag Suganchand Sancheti, Surabhi Parag Sancheti and Sumant Sudhir Pilgaonkar

Rubicon Research IPO Details

Rubicon Research IPO Dates	9 – 13 October 2025
Rubicon Research Issue Price	INR 461 – 485 per share
Fresh issue	INR 500 crore
Offer For Sale	INR 877.5 crore
Total IPO size	INR 1,377.5 crore
Minimum bid (lot size)	30 shares (INR 14,550)
Face Value	INR 1 per share
Retail Allocation	10%
Listing On	NSE, BSE

Rubicon Research Financial Performance

	FY 2023	FY 2024	FY 2025	Q1 FY 2026
Revenue	393.52	853.89	1,284.27	352.49
Expenses	430.05	769.53	1,101.70	116.07
Net income	(16.89)	91.01	134.36	43.30
Margin (%)	(4.29)	10.66	10.46	12.28

Figures in INR Crores unless specified otherwise

Rubicon Research Offer News

Rubicon Research Valuations & Margins

	FY 2023	FY 2024	FY 2025 (Pre Issue)	FY 2025 (Post-Issue)*
EPS	(1.11)	5.91	8.68	8.16
PE Ratio	–	–	53.11 – 55.88	56.51 – 59.45

* Calculated on the basis of annualized Profits After Tax for FY 2025 and dilution effect

	FY 2023	FY 2024	FY 2025
RONW (%)	(5.71)	27.11	29.02
NAV	18.83	25.31	35.53
ROCE (%)	1.35	18.62	26.45
EBITDA (%)	10.49	19.84	20.67
Debt/Equity	1.11	1.03	0.73

*Compiled by IPO Central from Prospectus

Rubicon Research IPO GMP Today (Daily Trend)

Rubicon Research IPO Objectives

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the company – INR 310 crore
Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes

Rubicon Research IPO Subscription – Live Updates

Coming soon

Shares allotted to anchor investors are not included in these calculations.

Rubicon Research – Comparison With Listed Peers

Company	PE ratio	EPS	RONW (%)	NAV	Revenue (Cr.)
Rubicon Research	55.88	8.68	29.02	35.53	1,284.27
Sun Pharma	34.98	45.60	16.16	300.99	52,578.44
Aurobindo Pharma	18.12	59.81	11.15	560.22	31,723.73

Rubicon Research IPO Allotment Status

Rubicon Research IPO allotment status will be available on MUFG Intime’s website. Click on this link to get the allotment status.

Rubicon Research IPO Dates & Listing Performance

IPO Opening Date	9 October 2025
IPO Closing Date	13 October 2025
Finalization of Basis of Allotment	14 October 2025
Initiation of refunds	15 October 2025
Transfer of shares to demat accounts	15 October 2025
Rubicon Research IPO Listing Date	16 October 2025
Opening Price on NSE	Coming soon
Closing Price on NSE	Coming soon

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Rubicon Research Offer Lead Manager

AXIS CAPITAL LIMITED
1st Floor, Axis House C-2 Wadia International Center
Pandurang Budhkar Marg, Worli Mumbai – 400 025 Maharashtra
Phone: +91 22 4325 2183
Email: [email protected]
Website: www.axiscapital.co.in

Rubicon Research Offer Registrar

MUFG INTIME INDIA PRIVATE LIMITED
C-101, 247 Park L B S Marg, Vikhroli (West),
Mumbai, 400 083, Maharashtra
Phone: +91 810 811 4949
Email: [email protected]
Website: www.mpms.mufg.com

RUBICON RESEARCH LIMITED
MedOne House, B-75, Road No. 33, Wagle Estate,
Thane West- 400 604, Maharashtra, India
Phone: 022 61414000
Email: [email protected]
Website: www.rubicon.co.in

Rubicon Research IPO FAQs

How many shares in Rubicon Research IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.

How to apply for Rubicon Research Public Offer?

The best way to apply for Rubicon Research public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.