The financial market is set to witness a prominent public offering with the launch of the Rubicon Research Limited IPO, a book-built issue valued at ₹1,377.50 crore. The IPO combines a fresh issue of 1.03 crore shares worth ₹500 crore and an offer for sale (OFS) of 1.81 crore shares worth ₹877.50 crore, providing investors an opportunity to participate in a leading pharmaceutical research and development company.

Rubicon Research IPO Overview

The IPO subscription opened on October 9, 2025, and will close on October 13, 2025. The allotment of shares is expected to be finalized on October 14, 2025, and the tentative listing date on BSE and NSE is set for October 16, 2025.

The price band for the IPO is set at ₹461 to ₹485 per share, allowing investors to choose an investment price within this range based on their analysis and valuation.

The IPO has been structured to accommodate different types of investors:

• Retail Investors: Minimum 1 lot of 30 shares, requiring an investment of ₹14,550 at the upper price band.

• sNII (Small Non-Institutional Investors): 14 lots (420 shares), totaling ₹2,03,700.

• bNII (Big Non-Institutional Investors): 69 lots (2,070 shares), totaling ₹10,03,950.

• Employee Reservation: Up to 40,046 shares are reserved for employees at a discount of ₹46 per share, encouraging staff participation in the company’s growth.

About Rubicon Research Limited

Rubicon Research Limited is a pharmaceutical research and development company focused on contract research services for global clients, providing end-to-end solutions for drug discovery, formulation development, and clinical trial support.

Over the years, Rubicon Research has established itself as a trusted partner for pharmaceutical and biotech companies worldwide. The company has gained recognition for high-quality research, adherence to regulatory standards, and innovation in formulation and drug delivery systems.

IPO Investment Highlights

The Rubicon Research IPO provides several benefits for potential investors:

1. Robust Industry Position: The company is a leading pharmaceutical R&D player in India, catering to domestic and international clients.

2. Growth Potential: With the pharmaceutical and biotech sector expanding rapidly, the company’s services are in high demand globally.

3. Diverse Revenue Streams: Rubicon Research generates revenue from R&D services, contract manufacturing, and clinical trials, ensuring stable cash flow.

4. Employee Participation: The employee reservation at a discounted price fosters commitment and aligns staff incentives with business growth.

5. Institutional Backing: Participation from sNII and bNII investors is expected to strengthen the IPO’s subscription and market confidence.

Retail Investment Opportunities

Retail investors can participate in the Rubicon Research IPO with a minimum lot of 30 shares, which at the upper price band requires an investment of ₹14,550. This makes the IPO accessible to a wide base of small investors.

sNII and bNII investors have the option to subscribe in larger lots, catering to high net-worth individuals and institutional participants, ensuring balanced demand across investor categories.

The employee reservation quota, offering shares at a discount of ₹46 per share, encourages employees to participate in the IPO, aligning their interests with the company’s performance and growth.

Subscription and Listing Details

Investors can apply for the IPO through banks, online trading platforms, and authorized brokers. Applications must comply with the ASBA (Application Supported by Blocked Amount) process, ensuring a safe and transparent subscription mechanism.

The allotment is expected on October 14, 2025, after which investors will receive confirmation of allocated shares. The listing on BSE and NSE is scheduled for October 16, 2025, enabling investors to trade shares on the secondary market shortly after allotment.

Lead Managers and Registrar

The Book Running Lead Manager (BRLM) for the Rubicon Research IPO is responsible for coordinating the IPO process, including pricing, marketing, and managing subscriptions.

The Registrar of the IPO ensures smooth handling of investor applications, allotment, and post-listing activities, maintaining transparency, compliance, and operational efficiency.

Why Rubicon Research IPO Stands Out

1. Strong Market Position: Rubicon Research has a solid presence in the pharmaceutical R&D space, catering to global clients.

2. Global Demand for R&D Services: The international pharmaceutical sector increasingly relies on outsourced R&D services, creating significant growth potential.

3. Attractive Pricing and Employee Benefits: The IPO price band and employee discount make it appealing for both external investors and internal stakeholders.

4. Institutional Participation: Anticipated strong subscription from sNII and bNII investors supports market confidence and long-term investment appeal.

Steps for Retail Investors

To participate in the Rubicon Research IPO, retail investors should:

1. Ensure KYC compliance and active demat account.

2. Determine the number of lots to apply based on investment capacity.

3. Apply through ASBA-enabled bank accounts or trading platforms.

4. Track allotment status via the registrar portal.

5. Prepare for listing on BSE and NSE for potential trading or long-term investment strategies.

Conclusion

The Rubicon Research Limited IPO presents a unique opportunity for investors to enter the pharmaceutical research and development sector, which is poised for global growth. With a price band of ₹461-₹485 per share and a total issue size of ₹1,377.50 crore, the IPO caters to retail, sNII, bNII, and employees, ensuring broad participation.

The IPO’s fresh issue of 1.03 crore shares will raise capital for the company’s expansion, while the offer for sale of 1.81 crore shares allows existing shareholders to monetize their investment. The employee reservation at a discount further strengthens alignment between staff and the company’s long-term objectives.

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