Rubicon Research IPO GMP: Pharma Company’s Public Issue Sees Strong Demand On Day 1 Of Subscription

Rubicon Research IPO GMP: The initial public offering (IPO) of Rubicon Research is witnessing strong demand on the first day of bidding on October 9, 2025. Shares of Rubicon Research are also garnering strong demand in the grey market. Here’s a look at key details of the IPO.

Rubicon Research IPO GMP

Shares of Rubicon Research are commanding a grey market premium (GMP) of Rs 94-98 per share. Based on the trends in the GMP, the shares of Rubicon Research are expected to make a strong debut at Rs 583 per share with gains of 20 per cent.

Rubicon Research IPO: Subscription Update

Rubicon Research IPO has been booked 8 per cent in the first hour of the subscription window. So far, the public issue has received bids for 1.32 million shares compared to 16.45 million shares offered to investors.

In the first hour of the bidding window being open, retail investors are leading the demand. The issue has been subscribed 32 per cent, receiving bids for 947,970 shares against the 2.98 million shares reserved for retail investors.

Non-institutional investors (NIIs) have placed bids for 360,900 shares compared to the 4.47 million shares set aside for the category. Qualified institutional buyers (QIBs) have placed no bids for the public issue so far. The pharma company has set aside 8.95 million shares for QIBs.

Employees of the company have booked the issue 27 per cent, placing bids for 11,520 shares as against the 42,168 shares set aside for the category.

Rubicon Research IPO: Issue Size and Price Band

Rubicon Research’s IPO has a total offer size of Rs 1,377.5 crore comprising a fresh issue component of 10.30 million shares aggregating to Rs 500 crore and an offer for sale (OFS) of 18.10 million shares amounting to Rs 877.5 crore. Rubicon Research IPO price band was fixed at Rs 461-485 per share.

Rubicon Research IPO: Lot Size and Minimum Investment

The minimum lot size to bid for Rubicon Research IPO for retail investors has been fixed at 30 shares, amounting to an investment of Rs 14,550. The lot size for small NIIs has been fixed at 14 lots aggregating to Rs 2,03,700, while the lot size for big NIIs has been fixed at 69 lots amounting to Rs 10,03,950.

Rubicon Research IPO: Bidding Window, Listing Date, Allotment Date

The subscription is scheduled to close on October 13 and the share allotment status will be decided on October 14. Successful bidders will receive the shares in their demat accounts on October 15 and refunds to unsuccessful bidders will be initiated the same day. The shares will list on the exchanges on October 16.

Rubicon Research IPO: Anchor Investors

Anchor investors were allotted over1.27 crore equity shares to 32 funds. Several global and domestic institutional investors took part in the anchor round, the company collected Rs 619 crore from the round. Some of the notable investors included Goldman Sachs, Fidelity Funds. Nomura Funds Ireland, Amansa Holdings, Aranda Investments Pte. Ltd, Societe Generale and DIIs such as HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Kotak Midcap Fund, PGIM India Mutual Fund, Canara Robeco Mutual Fund, Mirae Asset Mutual Fund and Motilal Oswal Mutual Fund.

Rubicon Research: Key financials

In the June quarter of FY26, Rubicon Research’s total income stood at Rs 356.95 crore, while its net profit and net worth stood at Rs 43.30 crore and Rs 593.67 crore, respectively.

Rubicon Research posted a total income of Rs 1,296.22 crore in FY25, up by over 48 per cent compared to Rs 872.39 crore in FY24. Rubicon Research’s net profit for FY25 stood at Rs 134.36 crore compared to Rs 91.01 crore in the preceding financial year, up by an increase of more than 40 per cent. The pharma company’s net worth grew by over 40 per cent to Rs 540.98 crore in FY25 compared to Rs 385 crore in FY24.

Rubicon Research IPO: Registrar

The book running lead manager for Rubicon Research IPO is Axis Capital and MUFG Intime India is the registrar of the issue.

Rubicon Research: Promoters

General Atlantic Singapore, Pratibha Pilgaonkar, Sudhir Dhirendra Pilgaonkar, Parag Suganchand Sancheti, Surabhi Parag Sancheti and Sumant Sudhir Pilgaonkar are the promoters of the company. They held 77.67 per cent stake in the company prior to the public issue.

Rubicon Research IPO: Objective

Rubicon Research plans to use the money raised through the public issue for prepayment or scheduled repayment of borrowings. The company also plans to use the proceeds for funding acquisitions and other strategic initiatives.

About Rubicon Research

Rubicon Research was incorporated in 1999. The company is a maker and retailer of differentiated formulations. Rubicon Research’s product portfolio includes 66 commercialised products.