Rubicon Research Limited
Minimum investment
Bidding date
09 Oct - 13 Oct 2025
Price range
₹461 - ₹485
Minimum quantity
30
Minimum investment
₹13,830
Issue size
₹1,377.5 Cr.
IPO doc (link)
RHP docsListing exchange
NSE/BSE
Category | Subscription |
|---|---|
Qualified Institutional Buyers | 73.91x |
Retail Individual Investor | 23.85x |
Non-Institutional Investor | 48.54x |
Others | - |
Total | 23.85x |
Incorporated in 1999, Rubicon Research Limited is a pharmaceutical company engaged in developing, manufacturing, and commercializing differentiated formulations. The company focuses on innovative drug delivery solutions and operates across both regulated and emerging markets.
As of June 30, 2025, Rubicon Research had a robust portfolio of 72 active ANDA and NDA products approved by the US FDA, with 66 commercialized products contributing to a US generic pharmaceutical market size of USD 2,455.7 million, out of which Rubicon generated USD 195 million in FY2024.
The company also has 17 new products awaiting US FDA approval and 63 products under development. Rubicon markets over 350 SKUs to 96 global customers, including major US wholesalers, national pharmacy chains, and group purchasing organizations (GPOs).
Globally, the company has filed or registered 48 product applications across Australia, the UK, Singapore, Saudi Arabia, and the UAE. It also provides contract manufacturing services to clients in India, Australia, and New Zealand.
Rubicon operates three manufacturing facilities in India and two US FDA-approved R&D centers located in India and Canada.
High-Growth Pharmaceutical Company:: Rubicon Research is among the fastest-growing Indian pharma companies, supported by strong global demand and regulatory approvals.
Innovative Product Selection Framework:: The company follows a data-driven approach to identify high-potential molecules, ensuring profitability and market relevance.
Robust R&D and Compliance Track Record:: With advanced R&D centers in India and Canada, Rubicon maintains high compliance standards, including multiple US FDA approvals.
Diverse Customer Base:: The company’s broad client base includes major US wholesalers, pharmacy chains, and GPOs, ensuring recurring revenues and stability.
Experienced Management Team:: A team of professionals with deep pharmaceutical and strategic expertise drives growth and operational efficiency.
Dependence on the US Market:: A significant portion of Rubicon’s revenue is derived from the US, making it vulnerable to regulatory changes and market competition.
Product Approval Delays:: Any delay in receiving US FDA approvals for new products could impact future revenue and expansion plans.
Foreign Exchange Fluctuations:: Since the company earns a large part of its revenue from exports, it is exposed to currency exchange rate risks.
Industry Competition:: The pharmaceutical sector is highly competitive, with pressure on pricing and margins from generic drug manufacturers.
Regulatory and Compliance Risks:: Stringent global regulations and compliance requirements can pose operational and financial challenges if not met consistently.
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