Rubicon Research IPO to open on October 9; Check price band, issue size and more

Rubicon Research is set to launch its initial public offering (IPO) for subscription from Thursday, 9 October and close on Monday, 13 October, setting the price band at Rs 461–485 per share. The offering comprises a fresh issue of 1.03 crore shares worth Rs 500 crore and an offer for sale of 1.81 crore shares worth Rs 877.50 crore, making the total issue size Rs 1,377.50 crore. Investors can apply for a minimum lot size of 30 shares, requiring a minimum investment of Rs 14,550 for retail bidders.

The IPO is set to list on both NSE and BSE, with the tentative listing date scheduled for Thursday, 16 October. Of the total offering, 75% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors. Axis Capital, IIFL Securities, and JM Financial are the lead managers, while MUFG Intime India acts as the registrar.

The allotment of shares is expected to be finalised on Tuesday, 14 October. Refunds are anticipated to start on Wednesday, 15 October, and shares will be credited to allottees' demat accounts on the same day. The IPO aims to fund debt repayment, inorganic growth, strategic initiatives, and general corporate purposes.

Rubicon Research is a pharmaceutical formulations company focusing on specialty products and drug-device combination offerings for regulated markets, mainly in the United States. As of 30 June 2025, the company managed a portfolio of 72 active Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) products approved by the USFDA. The company claims it is the only Indian pharmaceutical player with a complete focus on regulated markets.

The company’s portfolio includes 66 commercialised products, with a US generic pharmaceutical market size of $2,455.7 million. Rubicon Research contributed $195 million in fiscal 2024, according to the company's RHP