IPO Trending
RUBICONEQ / NSE, BSEListed
Rubicon Research

Rubicon Research Limited, incorporated in 1999, is a pharmaceutical company focused on developing, manufacturing, and commercializing differentiated formulations. As of June 30, 2025, it has 72 US FDA-approved ANDA and NDA products, with 66 commercialized in a US generic market worth USD 2,455.7 million, contributing USD 195 million in Fiscal 2024. The company has 17 products awaiting US FDA approval and 63 in development, marketing over 350 SKUs to 96 customers, including major wholesalers, pharmacy chains, GPOs, and managed care organizations. Globally, Rubicon has registered or filed 48 products across Australia, the UK, Singapore, Saudi Arabia, and the UAE, planning commercial launch upon approval, and offers contract manufacturing in India, Australia, and New Zealand. Its operations include three manufacturing facilities in India and two US FDA-inspected R&D centers in India and Canada.

drhpanchor
₹461 - ₹485109.33x sub
Listed Price₹620.10
Listing Gain+27.86%

IPO Schedule & Timeline

Bookbuilding IPO
Open09 Oct 2025
Close13 Oct 2025
Allotment14 Oct 2025
Listing16 Oct 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor1,27,64,691 shares
44.94%
QIB85,06,804 shares
29.95%
HNI42,54,299 shares
14.98%
Retail28,36,200 shares
9.99%
Employee40,046 shares
0.14%

Minimum Application Lots

Retail1 Lot (30 shares)
₹14,550
sHNI14 Lots (420 shares)
₹2,03,700
bHNI69 Lots (2,070 shares)
₹10,03,950

Company Promoters

Pratibha PilgaonkarSudhir Dhirendra PilgaonkarParag Suganchand SanchetiSurabhi Parag SanchetiSumant Sudhir Pilgaonkar

Company Background

Rubicon Research Limited, incorporated in 1999, is a pharmaceutical company focused on developing, manufacturing, and commercializing differentiated formulations. As of June 30, 2025, it has 72 US FDA-approved ANDA and NDA products, with 66 commercialized in a US generic market worth USD 2,455.7 million, contributing USD 195 million in Fiscal 2024. The compa...

Lead Managers & Bankers

Axis Capital LimitedIIFL Capital Services LimitedJm Financial LimitedSBI Capital Markets Limited

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Jun-25)₹356.95 Cr
Growth-14.8%
Revenue Trend (₹ in Crores)
0.0496.9993.81.5kMar-23Mar-24Mar-25Jun-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Jun-25356.9543.301,647.60495.78
Mar-251,296.22134.361,451.43393.17
Mar-24872.3991.011,109.49396.41
Mar-23419.00-16.89749.70317.91

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Mar-258.8229.02%26.45%00
Mar-245.9827.11%18.62%00
Mar-23-1.11-5.71%1.35%00

Peer Comparison & Valuation

Financial Performance

Aurobindo Pharma Limited

NAV/Share (₹)560.22
RONW(%)11.15
EPS (Basic) (₹)59.81

Sun Pharmaceutical Industries Limited

NAV/Share (₹)300.99
RONW(%)16.16
EPS (Basic) (₹)45.60

Rubicon Research Limited

NAV/Share (₹)35.53
RONW(%)29.02
EPS (Basic) (₹)8.82

Zydus Lifesciences Limited

NAV/Share (₹)238.05
RONW(%)21.34
EPS (Basic) (₹)44.97

Strides Pharma Science Limited

NAV/Share (₹)238.05
RONW(%)21.34
EPS (Basic) (₹)44.97

Dr. Reddy’s Laboratories Limited

NAV/Share (₹)402.78
RONW(%)18.53
EPS (Basic) (₹)67.89

Alembic Pharmaceuticals Limited

NAV/Share (₹)264.09
RONW(%)11.63
EPS (Basic) (₹)29.68

Lupin Limited

NAV/Share (₹)377.18
RONW(%)21.00
EPS (Basic) (₹)71.95

Valuation

Aurobindo Pharma Limited

P/E(X)18.12
CMP* (₹)1,083.85
Face value (₹)1.00

Sun Pharmaceutical Industries Limited

P/E(X)34.98
CMP* (₹)1,594.95
Face value (₹)1.00

Rubicon Research Limited

P/E(X)NA
CMP* (₹)NA
Face value (₹)1.00

Zydus Lifesciences Limited

P/E(X)21.83
CMP* (₹)981.70
Face value (₹)1.00

Strides Pharma Science Limited

P/E(X)18.72
CMP* (₹)824.75
Face value (₹)10.00

Dr. Reddy’s Laboratories Limited

P/E(X)18.05
CMP* (₹)1,223.70
Face value (₹)1.00

Alembic Pharmaceuticals Limited

P/E(X)30.33
CMP* (₹)900.2
Face value (₹)2.00

Lupin Limited

P/E(X)26.64
CMP* (₹)1,910.15
Face value (₹)2.00

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Link Intime India Private Ltd (MUFG)

Allotment Finalized
Allotment Date
14 Oct 2025
Official Status
Out / Finalized
Registrar
Link Intime India Private Ltd (MUFG)
Listing Date
16 Oct 2025

Official Allotment Verification Links

Official Registrar Portal
Link Intime India Private Ltd (MUFG)

Direct allotment verification on the official registrar portal appointed for Rubicon Research. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization14 Oct 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date16 Oct 2025Trading commences on exchange

How to Check Rubicon Research Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Rubicon Research from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Official FilingDRHP
Official FilingANCHOR

Allotment FAQs & Help

About Rubicon Research IPO

Complete issue overview for Rubicon Research (RUBICON) IPO. The issue features an equity share price band of ₹461 – ₹485 per share with a minimum retail lot size of 30 Shares (minimum application amount of ₹14,550). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions