Rubicon Research IPO Subscription Status
Rubicon Research IPO closed on 13 October 2025 with an overall subscription of 109.35x based on shares applied. QIB demand came in at 137.09x, NII at 102.71x, and retail at 37.33x.
Allotment will be finalised on 14 October 2025. The stock is scheduled to list on NSE and BSE on 16 October 2025.
Issue Price
Rs 485.00
GMP Today
Rs 151.00 (+31.13%)
Overall Subscription
109.35x
Issue Size
₹1377.50 Cr
Allotment Date
14 Oct 2025
Listing Date
16 Oct 2025
Rubicon Research IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 485.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 412.58 Cr | Rs 56,559.14 Cr | 137.09x |
| FII | - | Rs 16,406.10 Cr | - |
| DFI | - | Rs 24,566.34 Cr | - |
| Mutual Funds | - | Rs 2,842.57 Cr | - |
| Other | - | Rs 12,744.13 Cr | - |
| NII | Rs 206.33 Cr | Rs 21,191.55 Cr | 102.71x |
| bNII (above Rs 10L) | Rs 137.56 Cr | Rs 16,200.08 Cr | 117.77x |
| Corporate | - | Rs 200.65 Cr | - |
| Individual | - | Rs 15,062.80 Cr | - |
| Other | - | Rs 936.62 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 68.78 Cr | Rs 4,991.47 Cr | 72.57x |
| Corporate | - | Rs 9.07 Cr | - |
| Individual | - | Rs 4,759.08 Cr | - |
| Other | - | Rs 223.33 Cr | - |
| Retail | Rs 137.56 Cr | Rs 5,134.48 Cr | 37.33x |
| Cut-off price | - | Rs 4,216.59 Cr | - |
| Fixed price | - | Rs 917.89 Cr | - |
| Employee | Rs 1.94 Cr | Rs 34.35 Cr | 17.69x |
| Cut-off price | - | Rs 26.98 Cr | - |
| Fixed price | - | Rs 7.37 Cr | - |
| Total | Rs 758.41 Cr | Rs 82,919.51 Cr | 109.33x |
Rubicon Research IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 85,06,804 | 1,354 | 0.00x |
| FII | - | 102 | - |
| DFI | - | 76 | - |
| Mutual Funds | - | 55 | - |
| Other | - | 1,121 | - |
| NII | 10,129 | 3,89,682 | 38.47x |
| bNII (above Rs 10L) | 6,753 | 1,55,644 | 23.05x |
| Corporate | - | 1,844 | - |
| Individual | - | 1,45,385 | - |
| Other | - | 8,415 | - |
| sNII (Rs 2L to Rs 10L) | 3,376 | 2,34,038 | 69.32x |
| Corporate | - | 338 | - |
| Individual | - | 2,23,066 | - |
| Other | - | 10,634 | - |
| Retail | 94,540 | 27,97,133 | 29.59x |
| Cut-off price | - | 22,72,258 | - |
| Fixed price | - | 5,24,875 | - |
| Employee | 1,335 | 15,907 | 11.92x |
| Cut-off price | - | 12,865 | - |
| Fixed price | - | 3,042 | - |
| Total | 86,12,808 | 32,04,076 | 0.37x |
What Do These Subscription Numbers Mean?
A subscription of 109.35x by shares means the IPO received bids for 109 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 137.09x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 137.09x, it reflects serious institutional conviction.
NII at 38.47x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 23.05x and sNII at 69.32x by applications. Share subscription was 102.71x. Allotment uses application count, not share volume.
At 29.59x subscription by applications, approximately 1 in 30 retail applicants can expect an allotment (~3% per application). Retail allotment is done by lottery when oversubscribed. Share subscription was 37.33x. Allotment uses application count, not share volume.
At 11.92x subscription by applications, approximately 1 in 12 employee applicants can expect an allotment (~8% per application). Employee reservation uses the same lottery logic as retail when oversubscribed.
Rubicon Research IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail
- •Application subscription: 29.59x.
- •Allotment odds: about 1 in 30 (~3% chance per application).
- •Method: Lottery. If allotted, you receive at least one lot.
- •Share subscription was 37.33x. Allotment uses application count, not share volume.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 69.32x.
- •Allotment odds: about 1 in 69 for a minimum-lot application (~1% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 72.57x. Allotment uses application count, not share volume.
BHNI (above Rs 10 lakh)
- •Application subscription: 23.05x.
- •Allotment odds: about 1 in 23 for a minimum-lot application (~4% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 117.77x. Allotment uses application count, not share volume.
Check the Rubicon Research IPO Allotment Status page from 14 October 2025 for your allotment result.
Rubicon Research IPO GMP After Subscription
GMP for Rubicon Research IPO stands at Rs 151.00 today, giving an estimated listing price of Rs 636.00 per share.
A subscription of 109.35x combined with a GMP of 31.13% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Rubicon Research IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Rubicon Research IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 9 Oct 2025 | 0.27x | 0.49x | 1.43x | 0.54x |
| Day 2 - 10 Oct 2025 | 2.22x | 1.92x | 4.16x | 2.49x |
| Day 3 - 13 Oct 2025 | 137.09x | 102.70x | 37.40x | 109.35x |
Rubicon Research IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 9 October 2025 |
| IPO Close Date | 13 October 2025 |
| Allotment Date | 14 October 2025 |
| Refund Initiation | 15 October 2025 |
| Share Credit to Demat | 15 October 2025 |
| Listing Date | 16 October 2025 |
| Minimum Investment | Rs 14,550.00 |
| Lot Size | 30 shares |
About Rubicon Research IPO
Rubicon Research Limited, established in 1999, is a pharmaceutical formulations company focused on innovation through R&D, specializing in complex generics and drug-device combination products for highly regulated markets, primarily the United States. The company is among the fastest-growing Indian formulations companies, with a strong focus on high-margin specialty products. As of June 2025, Rubicon had 72 active ANDA/NDA approvals from the US FDA, with a high commercialization rate of 86.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
Retail - Retail Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Rubicon Research IPO Subscription FAQs
What is Rubicon Research IPO IPO subscription status today?
Rubicon Research IPO IPO subscription closed on 13 October 2025 with overall subscription of 109.35x (by shares) as of 27 June 2026, 2:47 AM IST. QIB 137.09x, NII 38.47x, Retail 29.59x.
What is the overall subscription of Rubicon Research IPO IPO?
Rubicon Research IPO IPO is subscribed 109.35x overall by shares at close on 13 October 2025. QIB 137.09x, NII 38.47x, and Retail 29.59x.
What is Rubicon Research IPO IPO QIB subscription?
Rubicon Research IPO IPO QIB (Qualified Institutional Buyers) subscription is 137.09x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Rubicon Research IPO IPO Retail subscription?
Rubicon Research IPO IPO Retail subscription is 29.59x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is Rubicon Research IPO IPO NII subscription?
Rubicon Research IPO IPO NII (Non-Institutional Investors) subscription is 38.47x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in Rubicon Research IPO IPO for retail?
At 29.59x subscription by applications, approximately 1 in 30 retail applicants can expect an allotment (~3% per application). Allotment is done by lottery. Share subscription was 37.33x. Allotment uses application count, not share volume.
When is Rubicon Research IPO IPO allotment date?
Rubicon Research IPO IPO allotment date is 14 October 2025. Check Rubicon Research IPO Allotment Status on IPOwiz from that day using your PAN.
When does Rubicon Research IPO IPO subscription close?
Rubicon Research IPO IPO subscription closed on 13 October 2025. No new applications are accepted after the close.
What is Rubicon Research IPO IPO GMP today?
Rubicon Research IPO IPO GMP is ₹151 today (+31.13% over issue price ₹485). See live GMP on the Rubicon Research IPO GMP Today page.
What is Rubicon Research IPO IPO issue price and lot size?
Rubicon Research IPO IPO issue price is ₹485 per share. Lot size is 30 shares. Minimum investment is ₹14,550 per lot. Issue size: ₹1377.50 Cr.
When is Rubicon Research IPO IPO listing date?
Rubicon Research IPO IPO listing date is 16 October 2025 on NSE and BSE. Allotment is on 14 October 2025.
How does subscription affect Rubicon Research IPO IPO allotment?
Allotment odds in Rubicon Research IPO IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII proportional allotment at 38.47x by applications means roughly 1 in 38 for minimum-lot bids; bNII at 23.05x (~1 in 23). At 109.35x overall, competition is very high.
For allotment results from 14 October 2025, visit the Rubicon Research IPO Allotment Status page. For listing day updates on 16 October 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.