Subscribe for Rubicon Research Ltd IPO; Ajcon Global

Ajcon Global, has come out with its report on Rubicon Research Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on October 09, 2025.

Broker Research

October 09, 2025 / 14:20 IST

IPO

Ajcon Global, Rubicon Research Ltd

Rubicon Research Ltd. is an innovation-led pharmaceutical formulations company with a strong focus on regulated markets, particularly the United States. The company specializes in the development and commercialization of specialty formulations and drug–device combination products, underpinned by robust research and development capabilities. Its business model is centered around a data-driven, return-on-investment (ROI) oriented product selection approach that identifies sustainable market opportunities and leverages Rubicon’s integrated development, manufacturing, and commercialization strengths to capture them.

Valuation and Outlook

At the upper price band of ₹485, the issue is valued at a P/E multiple of about 59.51× on its FY25 post-IPO EPS of ₹8.15. We give a ‘SUBSCRIBE’ rating to the issue for the following reasons.

For all IPO report, click here