The final day of bidding for Rubicon Research Ltd’s IPO is underway today, October 13, 2025. The IPO, which opened on October 9, has seen strong investor demand across all categories. Rubicon Research has set a price band of ₹461–₹485 per share, aiming to raise ₹1,377.50 crore through a combination of fresh issue and offer for sale.
Grey Market Premium (GMP) Today
According to market observers, Rubicon Research shares are trading at a ₹110 premium in the grey market, signaling strong investor sentiment and optimism ahead of the listing.
Subscription Status (as of 11:15 AM, Day 3)
- Retail Investors: 10.66x
- Non-Institutional Investors (NII): 14.79x
- Qualified Institutional Buyers (QIB): 2.19x
- Overall Subscription: 7.16x
The robust subscription numbers indicate widespread confidence in Rubicon Research’s business model and growth potential.
Rubicon Research IPO Review
Brokerages have largely maintained a “Subscribe” rating, citing the company’s niche presence and strong fundamentals.
- Arihant Capital: “At the upper price band of ₹485, the issue is valued at a P/E of ~60x based on FY25 annualised EPS of ₹8.2. With its focus on R&D and stable growth in the US generics market, we recommend a Subscribe rating.”
- Kunvarji Finstock: “We recommend subscribing with a medium- to long-term view. Rubicon’s focus on specialised generic products and strong financial performance are positives, though investors should monitor global trade policy changes closely.”
Rubicon Research IPO — Key Details
| Particulars | Details |
|---|---|
| IPO Price Band | ₹461–₹485 per share |
| Issue Size | ₹1,377.50 crore (Fresh Issue + OFS) |
| Subscription (Day 3) | 7.16x overall |
| Expected Allotment Date | October 14, 2025 |
| Likely Listing Date | October 16, 2025 |
| Listing Exchanges | BSE, NSE |
Should You Apply?
If we go by analysts’ claims, Rubicon Research should realize its long-term potential given its R&D capability, niche market positioning, and sound financials. However, short-term investors are advised to consider the valuation levels and the volatility of the sector before committing their funds.
