Rubicon Research IPO
Pharma/CDMO - Listed on 16 October 2025
Rubicon Research IPO listing summary
Rubicon Research (Pharma/CDMO) closed its IPO window in 2025 and listed on NSE and BSE on 16 October 2025 at an upper band issue price of Rs 485, opening at Rs 620 for a listing gain of +27.8% and closing day one at Rs 628.2 (+29.5% on closing basis). The IPO was subscribed 103.89x overall - QIB 130.26x, HNI/NII 97.61x, Retail 35.47x. The total issue size was Rs 1,377.5 Cr (Fresh Issue Rs 500 Cr, OFS Rs 877.5 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Listing day performance
Subscription breakdown
Final (Day 3) subscription
Number of times each investor category subscribed by close of Day 3.
Day-wise overall subscription
How overall subscription built up across the three-day issue window.
Rubicon Research IPO GMP history
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 77 | +15.88% |
| Day 2 | Rs 78 | +16.08% |
| Day 3 | Rs 85 | +17.53% |
| Day 4 | Rs 105 | +21.65% |
| Day 5 | Rs 98 | +20.21% |
GMP Prediction vs IPOGyani AI Prediction
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Issue & financials
Market context at listing
How the broader market moved around the Rubicon Research IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Rubicon Research IPO - FAQs
What was the listing gain of Rubicon Research IPO?
Rubicon Research IPO listed at +27.8% versus the upper issue price of Rs 485 on 16 October 2025.
How many times was Rubicon Research IPO subscribed?
Rubicon Research IPO was subscribed 103.89x overall. QIB portion was subscribed 130.26x, HNI / NII 97.61x and Retail 35.47x.
What was the IPO GMP for Rubicon Research?
IPO GMP started at Rs 77 on Day 1 and moved to Rs 98 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.