General Atlantic-backed pharma company Rubicon Research is all set to launch its ₹1,377.5 crore IPO on October 9, 2025.
This makes it the third major public issue next week, alongside Tata Capital’s ₹15,512 crore IPO and LG Electronics India’s ₹11,607 crore offer.
The anchor book will open on October 8, while the public bidding window will remain open till October 13.
IPO Structure and Promoter Details
Rubicon will issue fresh shares worth ₹500 crore, while its key promoter, General Atlantic Singapore RR, plans to sell shares worth ₹877.5 crore through the offer-for-sale route.
Currently, promoters hold 77.97% stake, while the public owns 22.03%.
Among public investors, Shivanand Mankekar HUF holds 14.42%, and Amansa Investments owns 3.3%.
In recent deals, General Atlantic sold a 1.86% stake (₹140 crore) in September, while Amansa Investments acquired 3.3% stake (₹250 crore) in August.
Fund Utilisation and Financial Performance
Rubicon Research will use ₹310 crore from the IPO proceeds to repay debt (total borrowings stood at ₹495.8 crore in June 2025).
The remaining funds will be used for acquisitions and general corporate purposes.
Financially, the company has been performing well.
In Q1 FY26 (June 2025), profit jumped 69.4% YoY to ₹43.3 crore, with revenue rising 11.3% to ₹352.5 crore.
For the year ended March 2025, profit grew 47.6% to ₹134.4 crore, while revenue surged 50.4% to ₹1,284.3 crore.
Listing and Key Details
The share allotment for the IPO will be finalised on October 14, and Rubicon Research shares will list on BSE and NSE from October 16.
The IPO is being managed by Axis Capital, IIFL Capital Services, JM Financial, and SBI Capital Markets.
