Rubicon Research IPO Subscribed 109.35× on Final Day As Strong Investor Demand

Mumbai | October 13, 2025 – The ₹1,377.5 crore IPO of Rubicon Research Limited saw huge investor demand, closing with a record 109.35× overall subscription on the last day. The issue, which was opened on October 9 and closed on October 13, 2025, received bids for more than 179.64 million shares compared to 1.64 million shares offered, indicating healthy demand from all categories of investors.

Rubicon Research IPO Strong Subscription Across Investor Segments

Investor interest was exceedingly strong in all categories. The category of Qualified Institutional Buyers (QIBs) received the most enthusiastic response, with 137.09 times the allocated amount subscribed. Non-Institutional Investors (NIIs) were second, with their portion booked 102.70 times, indicating a high level of participation from high-net-worth investors. Retail Individual Investors (RIIs) subscribed 37.40 times their share, reflecting sustained retail interest in the drug manufacturer.

This broad-based investor demand across investor classes reiterates the market’s confidence in Rubicon Research’s business fundamentals, research-driven model, and sustainable growth potential.

Rubicon Research IPO Price Band and Listing Details

The IPO came out in a price band of ₹461-₹485 per share, with a lot size of 30 shares, which represents ₹14,550 at the higher end. The shares are to debut in the market on the BSE and NSE on October 16, 2025.

About Rubicon Research Limited

Established in 1999, Rubicon Research Limited is a formative and developmental pharmaceutical company that deals in complex generics and innovative drug delivery systems. Rubicon has facilities approved by the USFDA in India and Canada, which supply highly regulated geographies like the United States and Europe. Rubicon has already commercialized 55 formulations in oral, topical, ophthalmic, and liquid dosage forms with WHO-GMP and Health Canada approvals.

Rubicon Research Investor Takeaway

The high-quality 109× overall subscription indicates firm institutional conviction and optimism in the market before the listing. Although investors might expect decent listing profits due to the huge oversubscription, those considering a long-term holding position should also consider Rubicon’s reliance on a few clients and its exposure to regulated overseas markets.

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