Tue Oct 14 12:00:00 UTC 2025: **News Article:**

**Rubicon Research IPO Oversubscribed by Over 109 Times, Listing Expected October 16**

**Mumbai, October 14, 2025** – The initial public offering (IPO) of Rubicon Research, an IP-led specialty pharmaceuticals company, concluded yesterday, October 13, 2025, with an overwhelming subscription rate of 109.35 times. The strong investor interest indicates confidence in the company’s growth prospects and business model.

The ₹1,377.50 crore IPO comprised a fresh issue of 1.03 crore shares, aggregating to ₹500 crore, and an offer for sale of 1.81 crore shares, totaling ₹877.50 crore. The price band was set between ₹461 and ₹485 per share, with a minimum lot size of 30 shares for retail investors, requiring an investment of ₹13,830.

Retail Individual Investors (RIIs) subscribed 37.40 times their allocated portion, while Non-Institutional Investors (NIIs) subscribed 102.70 times. Employees subscribed 17.68 times their quota, and Qualified Institutional Buyers (QIBs) led the charge with a subscription rate of 137.09 times.

The allotment process is expected to be finalized today, October 14, 2025. Rubicon Research’s shares are slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 16, 2025.

Rubicon Research, founded in 1999 and based in Thane, India, focuses on developing, manufacturing, and commercializing value-added formulations for regulated markets, particularly the US. The company boasts a diverse product portfolio spanning oral solids, liquids, nasal & inhalation, ophthalmic, topical, injectables, and drug-device combinations. It operates R&D centers in India and Canada, and has manufacturing plants in Ambernath and Satara.

For the financial year 2025, Rubicon Research reported a total income of ₹1,296.2 crore, a 48.5% increase from ₹872.4 crore in FY 2024. Profit After Tax (PAT) stood at ₹134.36 crore, up from ₹91.01 crore in the previous fiscal year. The company’s EBITDA rose to ₹267.9 crore, with margins improving to 20.7%.

Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and SBI Capital Markets Limited served as the book-running lead managers for the IPO. MUFG Intime India Private Limited was the registrar.

*Disclaimer: This news is solely for educational purposes and should not be considered investment advice.*

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