Rubicon Research IPO Date, Review, Price, Allotment Details

Posted on: 03 Oct 2025

The Rubicon Research IPO opens on October 9, 2025, and closes on October 13, 2025. It is a Book Built Issue, through which the company plans to raise approximately ₹1,377.50 crores, comprising a fresh issue of ₹500 crores and an offer for sale of 1,80,92,762 equity shares with a face value of ₹1 each.

The price band for the IPO is ₹461 to ₹485 per share, with the allocation as: Retail Investors – 10%, Qualified Institutional Buyers (QIBs) – 75%, and High Net Worth Individuals (HNIs) – 15%. The IPO is scheduled to list on BSE and NSE on October 16, 2025, with the allotment date on October 14, 2025.

Financially, Rubicon Research reported a revenue of ₹1,296.22 crores in 2025, up from ₹872.39 crores in 2024. The profit increased to ₹134.36 crores in 2025 from ₹91.01 crores in 2024. Based on these financials, the IPO may be considered suitable for long-term investment.

Rubicon Research IPO Details

IPO Open Date
October 9, 2025
IPO Close Date
October 13, 2025
Face Value
₹1 Per Equity Share
IPO Price Band
₹461 to ₹485 Per Share
Issue Size
Approx ₹1,377.50 Crores
Fresh Issue
Approx ₹500 Crores
Offer for Sale:
Approx 1,80,92,762 Equity Shares
Issue Type
Book Built Issue
IPO Listing
BSE, NSE
DRHP Draft Prospectus
PDF
RHP Draft Prospectus
PDF

Rubicon Research IPO Market Lot

The Rubicon Research IPO has a minimum market lot of 30 shares, requiring an application amount of ₹14,550. Retail investors can apply for up to 13 lots, totaling 390 shares with an application amount of ₹1,89,150.

Application
Lot Size
Shares
Amount
Retail Minimum
1
30
₹14,550
Retail Maximum
13
390
₹1,89,150
S-HNI Minimum
14
420
₹2,03,700
S-HNI Maximum
68
2,040
₹9,89,400
B-HNI Minimum
69
2,070
₹10,03,950

IPO Reservation

Investor Category
Share Offered
-% Shares
Anchor Investor
– Shares
-%
QIB (Ex. Anchor)
– Shares
75%
NII Shares Offered
– Shares
15%
Retail Shares Offered
– Shares
10%

Rubicon Research IPO Anchor Investors

Anchor Bidding Date
October 8, 2025
Anchor Investors List
PDF
Shares Offered
[.] Shares
Anchor Size
[.] Cr.
lock-in period end date 50% shares (30 Days)
November 13, 2025
lock-in period end date 50% shares (90 Days)
January 12, 2025

Rubicon Research IPO Dates

The Rubicon Research IPO opens on October 9, 2025, and closes on October 13, 2025. The allotment will be finalized on October 14, and the IPO is scheduled to list on October 16, 2025.

IPO Open Date:
October 9, 2025
IPO Close Date:
October 13, 2025
Basis of Allotment:
October 14, 2025
Refunds:
October 15, 2025
Credit to Demat Account:
October 15, 2025
IPO Listing Date:
October 16, 2025
IPO Bidding Cut-off Time:
October 13, 2025 – 5 PM

Promoters and Holding Pattern

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

Particular
Shares
% Share
Promoter Holding Pre Issue
15,44,37,251
77.67%
Promoter Holding Post Issue
16,47,46,529
72.80%

Objects of the Issue & Utilisation of Proceeds

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

About Rubicon Research IPO

The Rubicon Research IPO is scheduled to open on October 9, 2025, and close on October 13, 2025. The allotment will be finalized on October 14, and the IPO is scheduled to list on BSE and NSE on October 16, 2025. It is a Book Built Issue, with a price band of ₹461 to ₹485 per share and an allocation of Retail – 10%, QIB – 75%, HNI – 15%.

The minimum market lot is 30 shares, requiring an application amount of ₹14,550. Retail investors can apply for up to 13 lots, totaling 390 shares for ₹1,89,150. Financially, Rubicon Research reported a revenue of ₹1,296.22 crores in 2025, up from ₹872.39 crores in 2024, and a profit of ₹134.36 crores, up from ₹91.01 crores in 2024, making it suitable for long-term investors. The promoters include General Atlantic Singapore RR Pte. Ltd., Pratibha Pilgaonkar, Sudhir Dhirendra Pilgaonkar, Parag Suganchand Sancheti, Surabhi Parag Sancheti, and Sumant Sudhir Pilgaonkar.

The IPO registrar for Rubicon Research is MUFG Intime India Pvt. Ltd. For queries, investors can contact them at +91-22-4918 6270 or email at rubicon.ipo@linkintime.co.in. More details are available on their website: MUFG Intime India IPO Page.

Rubicon Research IPO Company Financial Report

Amount ₹ in Crores

Period Ended
Revenue
Expense
PAT
Assets
2023
₹419.00
₹430.05
₹16.89
₹749.70
2024
₹872.39
₹769.53
₹91.01
₹1,109.49
2025
₹1,296.22
₹1,101.70
₹134.36
₹1,451.43
June 2025
₹356.95
₹297.39
₹43.30
₹1,647.60

Rubicon Research IPO Valuation – FY2025

Check Rubicon Research IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

KPI
Values
ROE:
29.02%
ROCE:
26.45%
EBITDA Margin:
20.67%
PAT Margin:
10.37%
Debt to equity ratio:
0.51
Earning Per Share (EPS):
₹8.82 (Basic)
Price/Earning P/E Ratio:
N/A
Return on Net Worth (RoNW):
29.02%
Net Asset Value (NAV):
₹35.53

Peer Group Comparison

Company
EPS
PE Ratio
RoNW %
NAV
Income
Sun Pharmaceutical Industries Limited
45.60
34.98
16.16%
300.99
52,578.44 Cr.
Aurobindo Pharma Limited
59.81
18.12
11.15%
560.22
31,723.73 Cr.
Zydus Lifesciences Limited
44.97
21.83
21.34%
238.05
23,241.50 Cr.
Strides Pharma Science Limited
44.05
18.72
17.51%
277.34
4,565.34 Cr.
Dr. Reddy’s Laboratories Limited
67.89
18.05
18.53%
402.78
32,643.90 Cr.
Alembic Pharmaceuticals Limited
29.68
30.33
11.63%
264.09
6,672.08 Cr.
Lupin Limited
71.95
26.64
21.00%
377.18
22,707.90 Cr.

IPO Lead Managers aka Merchant Bankers

  • Axis Capital Ltd.
  • IIFL Capital Services Ltd.
  • JM Financial Ltd.
  • SBI Capital Markets Ltd.

IPO Registrar

MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: rubicon.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Company Address

Rubicon Research Ltd.
MedOne House, B-75,
Road No. 33, Wagle Estate,
Thane, Maharashtra, 400604
Phone: 022 61414000
Email: investors@rubicon.co.in
Website: https://www.rubicon.co.in/


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