Rubicon Research IPO Opens for Subscription: Price Band, GMP, Key Dates & Expert Reviews

📅 Issue Opens: October 9, 2025

📅 Closes On: October 13, 2025

💰 Price Band: ₹461–₹485 per share

📈 Grey Market Premium (GMP): ₹80 per share (approx. +16%)

🏦 Expected Listing: October 16, 2025 (BSE & NSE)

💊 Rubicon Research IPO Kicks Off — Should You Subscribe?

Pharma company Rubicon Research Ltd has opened its much-anticipated ₹1,377.5 crore IPO for public subscription starting today. The issue is already creating buzz in the market, with strong anchor investor participation and an impressive GMP indicating healthy investor interest.

Ahead of the opening, Rubicon Research raised ₹619 crore from anchor investors on October 8. Big names like Goldman Sachs, HDFC Mutual Fund, Fidelity Funds, ICICI Prudential MF, Kotak Mahindra MF, Amansa Holdings, and Aranda Investments Pte took part in the anchor book, signaling strong institutional confidence.

Rubicon Research IPO Details at a Glance

Particulars Details

IPO Size ₹1,377.5 crore

Fresh Issue ₹500 crore

Offer for Sale (OFS) ₹877.5 crore (by General Atlantic Singapore)

Price Band ₹461–₹485 per share

Lot Size 30 shares

Minimum Investment (Retail) ₹14,550 for 1 lot

Maximum Investment (Retail) ₹1,89,150 for 13 lots

QIB Quota Up to 75%

NII Quota Up to 15%

Retail Quota Up to 10%

Rubicon Research IPO GMP Today (October 9, 2025)

The grey market premium (GMP) for Rubicon Research stands at around ₹80 per share, taking the grey market price to ₹565 per share — about 16.5% above the upper price band of ₹485.

This signals a strong debut expectation if market sentiment sustains through the subscription period.

Analyst Reviews — “Subscribe for Long-Term Gains”

Analysts remain optimistic about the IPO:

Arihant Capital: Subscribe

SMIFS: Subscribe – Long Term

Experts cite Rubicon’s steady US market presence, diversified portfolio, and solid R&D capabilities as strong fundamentals supporting its growth trajectory.

Rubicon Research IPO Timeline

Event Date

IPO Opens October 9, 2025

IPO Closes October 13, 2025

Allotment Finalisation October 14, 2025

Shares Credit to Demat October 15, 2025

Listing on BSE & NSE October 16, 2025

Objective of the Issue

According to the company’s Red Herring Prospectus (RHP):

Proceeds from the fresh issue will be used for:

Prepayment/repayment of borrowings

Funding inorganic growth (acquisitions and expansion)

General corporate purposes

Funds from the OFS will go to General Atlantic Singapore, the selling shareholder.

About Rubicon Research

Founded in 2012, Rubicon Research is a specialty and generic pharmaceutical company focused primarily on the US market. The firm operates robust manufacturing facilities in Maharashtra and R&D centers in India and Canada.

By FY24, the company had commercialized 55 products in the US and ranked among the top 10 Indian pharma firms by total ANDA approvals — a testament to its innovation and consistent performance.