Rubicon Research IPO: Checkout Important Details

Rubicon Research Private Limited submits DRHP with SEBI and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering fresh issues of equity shares worth up to Rs 500 crores and an offer for sale by the promoters worth up to Rs 585 crores of equity shares. This aggregates the total size of equity shares worth up to Rs 1,085 crore. The face value is reported as Re 1 for each share. This new IPO issue is being made through the book-building process with a reservation of less than 75% of the new offer reserved for Qualified Institutional Investors, not more than 15% reserved for NII and not more than 10% reserved for Retail Individuals. The opening date and closing date of this IPO have not yet been disclosed, and the price band will be announced soon by the company.

About Rubicon Research Private Limited

Rubicon Research Private Limited is an innovative, formulation-oriented pharmaceutical company focused on research and development. With a special emphasis on the regulated markets—particularly the United States—Rubicon has been able to amass a strong portfolio of 69 approved ANDA and NDA products, 55 of which have been commercialized. Its strategic focus on high-value markets has fostered fast growth in the company, making it one of the fastest-growing Indian pharma companies with a CAGR of 62.5 percent from fiscal 2022 to 2024. On the drug spectrum, the products offered by Rubicon are diverse, with huge anchors in the Analgesics, CNS, and CVS therapy areas. As of March 31, 2024, the outreach and impact of Rubicon continue to broaden; this time, with the backing of a strong commercialization strategy coupled with heavy R&D investments of 13% of its revenue in Fiscal 2024, it shows the commitment to sustainable growth by the firm through innovations.

Rubicon Research Private Limited IPO Objectives

The fund received from net proceeds are currently expected to be deployed for several key purposes, including Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by our Company, Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes.

Financials of the Company

For the FY year that ended March 2024, compared to March 2023, the company’s assets increased by 47.99% to Rs 1,109.49 Crore. However, revenue increased by 116.99% to Rs 853.89 crore, and profit after tax showed great growth as the figure was negative. Rs -16.89 crore for FY23 turned to positive Rs 91.01 crore for FY24. Total borrowings increased to Rs 396.41 crore from Rs 317.91 crore as compared to FY24 from FY23. These numbers show how the company’s finances have been and where exactly there is a need to make strategic changes.

Lead manager(s), Registrar of IPO & Promoter(s) of the Company

The IPO is managed by Axis Capital Limited, IIFL Securities Limited, JM Financial Limited and SBI Capital Markets Limited. The company has appointed Link Intime India Private Limited as the registrar for the issue, while the company has General Atlantic Singapore RR Pte. Ltd., Pratibha Pilgaonkar, Sudhir Dhirendra Pilgaonkar, Parag Suganchand Sancheti, Surabhi Parag Sancheti, and Sumant Sudhir Pilgaonkar as their promoter(s).