Rubicon Research, a Mumbai-based pharmaceutical firm, has announced a price band of ₹461 to ₹485 per share for its upcoming initial public offering (IPO). The company aims to raise ₹1,377.5 crore through the IPO, which will open for subscription on October 9 and close on October 13. Bidding for anchor investors will take place on October 8.
The IPO includes a fresh issue of equity shares worth ₹500 crore and an offer-for-sale (OFS) of shares valued at ₹877.5 crore by General Atlantic Singapore RR Pte Ltd, a prominent promoter. The proceeds from the fresh issue will be allocated for repaying debts, funding future acquisitions, strategic initiatives, and general corporate purposes.
Previous transactions involving General Atlantic in September and August involved the sale of 28.89 lakh and 51.60 lakh equity shares, respectively, which represented a stake reduction but left the firm holding a majority stake of 52.15%. Other promoters in the company include Pratibha Pilgaonkar, Sudhir D Pilgaonkar, Parag S Sancheti, Surabhi P Sancheti, and Sumant S Pilgaonkar.
Rubicon Research specializes in pharmaceutical formulations with a focus on research and development (R&D) and innovation. Its product portfolio increasingly includes specialty products and drug-device combination products, primarily targeting regulated markets, especially in the US. In June, Rubicon acquired a formulations facility from Alkem Laboratories in Pithampur, Madhya Pradesh, for ₹149 crore.
The company operates two USFDA-inspected R&D facilities—one in India and another in Canada—and has two manufacturing plants in India that have received multiple regulatory approvals, including those from the USFDA, Maharashtra FDA (WHO-GMP), and Health Canada.
In terms of allocation for the IPO, 75% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Rubicon Research is projected to debut on the stock market on October 16.
This information was published on October 6, 2025.
