October 9 marks the opening of Rubicon Research’s Rs 1,377 crore IPO. Shares of the specialty and generic drug company are available for purchase for Rs 461-485. Strong listing expectations are indicated by the grey market premium. Because of its expansion and product pipeline, Arihant Capital advises subscribing. The company’s revenue and earnings are rising, indicating a financial recovery. Exposure to a rapidly expanding pharmaceutical exporter is provided by this IPO.
Rubicon Research IPO 2025 – Check Grey Market Price, Broker Ratings, Subscription & Key Info
Rubicon Research’s Rs 1,377 crore initial public offering (IPO) will go live on October 9 and run until October 13. The pharmaceutical firm, which focuses on producing specialty and generic drugs, is offering shares for between Rs 461 and Rs 485 a share, with a valuation of approximately Rs 7,990 crore. The offering includes an offer for sale (OFS) of Rs 877 crore and a new issuance of Rs 500 crore.
Key Details:
IPO Size: ₹1,377.5 crore
Price Band: ₹461 – ₹485 per share
Subscription Period: October 9 – October 13, 2025
Listing Date: Expected on October 16, 2025
Purpose: Debt repayment and strategic growth initiatives
Market Lot: 30 shares
Rubicon Research Raises ₹619 Crore from Anchor Investors Ahead of IPO
Pharmaceutical company Rubicon Research secured ₹619.08 crore from 32 anchor investors on October 8, a day prior to the opening of its maiden IPO for public subscription.
The company plans to raise a total of ₹1,377.5 crore through the IPO, which comprises fresh issuance of shares worth ₹500 crore and an offer-for-sale (OFS) of ₹877.5 crore by promoter General Atlantic Singapore RR, whose stake recently dipped just below 50%.
The IPO will be open to the public from October 9 to October 13, 2025.
According to Rubicon Research’s filing to stock exchanges, the company has allocated 1,27,64,691 equity shares to anchor investors at ₹485 per share.
Of these, 49.56 lakh shares (38.83% of the anchor allocation) worth ₹240.4 crore were allotted to eight domestic mutual funds, including PGIM India, Mirae Asset, Bajaj Finserv, Kotak Mahindra AMC, HDFC AMC, and ICICI Prudential Mutual Fund. Leading global investors such as Goldman Sachs, Fidelity, Nomura Funds, Amansa Holdings, Societe Generale, University of Notre Dame, and GP Emerging Markets Strategies also participated.
Rubicon Research plans to utilise ₹310 crore of the fresh issue proceeds to repay certain borrowings, while the remaining funds will be used for inorganic growth via acquisitions and general corporate purposes.
Prior to the IPO, on October 6–7, 2025, promoter General Atlantic Singapore RR sold 34.86 lakh shares (2.25% stake) to Motilal Oswal Small Cap Fund, Kotak Midcap Fund, and Kotak Manufacturing India Fund at ₹484.47 per share, raising ₹168.9 crore and reducing its stake to 49.9%.
Other significant shareholders include Shivanand Mankekar HUF, holding 14.42%, and Amansa Investments, which recently acquired 3.33% stake from General Atlantic.
The IPO is being managed by Axis Capital, IIFL Capital Services, JM Financial, and SBI Capital Markets as merchant bankers.
Disclaimer:
This article is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. Investors should conduct their own research and consult with financial advisors before making any investment decisions. The information provided here is based on sources believed to be reliable, but no warranty is made regarding its accuracy, completeness, or reliability. Investment in IPOs is subject to market risks, including loss of principal.
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