Rubicon Research Shares Make Strong Debut on Stock Market, List at 28% Premium

Rubicon Research Ltd, which launched its Initial Public Offering (IPO) on October 9, 2025, made its debut on Dalal Street today, on October 16, 2025. The shares of Rubicon Research made a stellar debut on the NSE and BSE platforms, listing at a premium over the issue price.

Rubicon Research shares opened at ₹620 on the National Stock Exchange (NSE), marking a premium of ₹135 or 27.84% over the IPO upper price band of ₹485. While on the BSE, the shares of Rubicon Research were listed at ₹620.10, marking a premium of ₹135.10 or 27.86%. 

Rubicon Research IPO was a bookbuilding issue of ₹1,377.50 crores. It was a combination of fresh issue of 1.03 crore shares aggregating to ₹500.00 crores and offer for sale of 1.81 crore shares aggregating to ₹877.50 crores.

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Rubicon Research IPO – Overall Subscription Status

[October 13, 2025, 5 PM]

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Rubicon Research Ltd - Business Overview 

Rubicon Research Ltd is an IP-led speciality pharmaceuticals company, founded in 1999 and based in Thane, India. It focuses on developing, manufacturing and commercialising value-added formulations for regulated markets (especially the US). Its product portfolio spans multiple dosage forms — oral solids, liquids, nasal & inhalation, ophthalmic, topical, injectables, and drug-device combinations. It operates R&D centres in Thane (India) and Concord (Canada), and has manufacturing plants in Ambernath and Satara (India).

Financially, in FY 2025, Rubicon Research reported total income of about ₹1,296.2 crore (up by 48.5% from ₹872.4 crore in FY 2024) and a Profit After Tax (PAT) of ₹134.36 crore, compared to ₹91.01 crore in FY 2024. Its EBITDA rose to ₹267.9 crore with margins improving to 20.7%.

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