The price band for the initial public offering (IPO) of Rubicon Research has been set at ₹461–485 per share, and the company aims to raise ₹1,377.50 crore through this offering, which will be open for subscription from Thursday, October 9, to Monday, October 13.
The issue is a combination of a fresh issue of 1.03 crore shares aggregating to ₹500 crore and an offer for sale of 1.81 crore shares aggregating to ₹877.50 crore. Of the total offering, the company has reserved 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors.
The IPO lot size is fixed at 30 shares, requiring a minimum investment of ₹14,550 for retail investors. The mainboard IPO is to list on both NSE and BSE tentatively on Thursday, October 16.
In other issue details, the Rubicon Research IPO allotment of shares is expected to be finalized on Tuesday, October 14. The company will initiate refunds on Wednesday, October 15, and the shares will be credited to the demat accounts of allottees on the same day following refunds.
Axis Capital Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue. The company proposes to use the proceeds from the issue toward debt repayment, funding inorganic growth and other strategic initiatives, and general corporate purposes.
About Rubicon Research
Rubicon Research is a pharmaceutical formulations company with an expanding portfolio of specialty products and drug-device combination products targeting regulated markets, particularly in the United States. The company claims that it is the only Indian pharmaceutical player with a complete focus on regulated markets.
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, according to the company’s RHP.
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