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Rubicon Research Limited — IPO Summary
IPO open 9 Oct 2025 — 13 Oct 2025 · Issue Size: ₹1,377.50 Cr
Book Built Issue
Listing: BSE & NSE
Price Band: ₹461 – ₹485 / share
Face Value: ₹1 · Lot Size: 30 shares (Min ₹14,550)
Allotment Date
14 October 2025
Listing Date (Tentative)
16 October 2025
Total Issue Size
₹1,377.50 crores
Fresh Issue
₹500 crores
Offer for Sale (OFS)
1,80,92,762 shares
Quota Split
Retail 10% · QIB 75% · HNI 15%
Market Lot
30
Minimum lot (shares)
₹14,550
Minimum investment (Retail)
390
Maximum retail (13 lots)
₹1,89,150
Max retail investment
Company Financials
| Year | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|
| FY2023 | 419.00 | 16.89 |
| FY2024 | 872.39 | 91.01 |
| FY2025 | 1,296.22 | 134.36 |
| Q1 FY26 (Jun 2025) | 356.95 | 43.30 |
ROE 29.02%
FY25
ROCE 26.45%
FY25
EBITDA 20.67%
Margin FY25
PAT 10.37%
Margin FY25
D/E 0.51
Debt-to-Equity
Use of IPO Proceeds
- • Repayment of borrowings – ₹310 Cr
- • Funding acquisitions and strategic initiatives
- • General corporate purposes
About the Company
Rubicon Research is a pharmaceutical formulation company focused on research-driven innovation. It develops specialty and drug-device combination products for regulated markets, mainly the United States.
- • Strong R&D team
- • Data-driven product development
- • Fast growth in the pharma sector
- • Robust US distribution network
Investment Outlook
The company’s financial growth and strong presence in the US market make it attractive for long-term investors. Grey market sentiment is positive, and anchor investors like General Atlantic have shown confidence.
