New Delhi: Pharmaceutical firm Rubicon Research Ltd made a strong debut on the stock exchanges on Thursday, listing at a premium of nearly 28% over its issue price of Rs 485 per share.
The stock opened at Rs 620.10 on the BSE, a 27.85% jump from the issue price, while on the NSE, it listed at Rs 620, up 27.83%. The company’s market capitalisation at listing stood at around Rs 9,917.97 crore.
Rubicon Research’s Rs 1,377.5-crore initial public offering (IPO) received a robust response, being subscribed 103.9 times on its final day of bidding. The IPO comprised a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 877.5 crore by promoter General Atlantic Singapore RR Pte Ltd.
The company plans to use Rs 310 crore from the fresh issue for debt repayment, while the remaining funds will go toward acquisitions, strategic initiatives, and general corporate purposes.
Rubicon Research, known for its focus on R&D and innovation, develops speciality formulations and drug-device combination products for regulated markets, especially the United States.
In June 2025, the company expanded its manufacturing capacity by acquiring Alkem Laboratories’ Pithampur formulations facility in Madhya Pradesh for Rs 149 crore in an all-cash deal.
The firm currently operates two USFDA-inspected R&D centres — one in India and another in Canada — along with two manufacturing facilities in India accredited by global regulatory agencies, including USFDA, Maharashtra FDA (WHO-GMP), and Health Canada.
