The initial public offering (IPO) of Rubicon Research Limited opened on 9 October 2025 and will close on 13 October 2025, giving investors just one day left to apply. The IPO price band is set between ₹461 and ₹485 per share. The company aims to raise ₹1,377.50 crore through a combination of fresh capital and an offer for sale, with listings planned on the BSE and NSE.
Market observers report a strong demand for Rubicon Research shares, which are trading at a ₹110 premium in the grey market, reflecting the IPO’s robust subscription and a positive shift on Dalal Street. By the afternoon of the third day, the IPO was subscribed 103.37 times overall, with retail investors subscribing 33.01 times, non-institutional investors 97.32 times, and qualified institutional buyers 130.26 times.
Arihant Capital recommends subscribing to the IPO, noting its valuation at about 60 times the FY25 annualized earnings per share. Kunvarji Finstock also suggests a medium-to-long-term investment, praising Rubicon Research’s strong R&D focus and growing US market presence but advises monitoring trade policy changes.
