Rubicon Research Ltd IPO
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Rubicon Research Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| TBA | TBA | TBA | ₹ 1,198.98 L | DBC | TBA |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 09 Oct, 25 | 13 Oct, 25 | TBA | TBA | Book Building | 16 Oct, 25 |
Rubicon Research Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Miscellaneous |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 0 | 0 |
| NII | 0x | 0 | 0 |
| Retail | 0x | 0 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 0 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Rubicon Research Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 853.89 | 393.52 | 313.57 |
| EBITDA | 180.80 | 61.07 | 79.94 |
| PAT | 91.01 | -16.89 | 16.68 |
| Total Assets | 764.09 | 501.59 | 398.03 |
| Share Capital | 15.21 | 5.07 | 5.07 |
| Total Borrowings | 500.15 | 368.04 | 218.13 |
| Operating Activities (Net Cash) | 129.98 | 19.17 | 48.19 |
| Investing Activities (Net Cash) | -9.63 | -24.46 | 15.98 |
| Financing Activities (Net Cash) | 500.15 | 368.04 | 218.13 |
| Net Cashflow | 58.39 | 58.91 | 43.50 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Rubicon Research Ltd
Our Company was incorporated on May 6, 1999, as a private limited company under the Companies Act, 1956, under the name `Rubicon Consultants Private Limited', pursuant to a certificate of incorporation issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). Subsequently, pursuant to a resolution passed by our Board and by our Shareholders on May 6, 2002 and June 15, 2002, respectively, the name of our Company was changed from `Rubicon Consultants Private Limited' to `Rubicon Research Private Limited' as we had set-up a pharma research laboratory, entered into contracts with customers from the pharma industry and was in the process of making applications to secretary, Department of Scientific and Industrial Research, Ministry of Science and Technology for carrying on scientific research development in our laboratories, consequent to which a fresh certificate of incorporation was issued by the RoC dated September 2, 2002 under the Companies Act, 1956. Furthermore, our Company's status was converted from a private limited company to a public limited company pursuant to a resolution passed by our Board and by our Shareholders on April 11, 2024 and May 13, 2024, respectively, the name of our Company was changed from `Rubicon Research Private Limited' to `Rubicon Research Limited' under Companies Act, 2013. A fresh certificate of incorporation dated July 23, 2024 was issued by the registrar of companies, central processing centre, Manesar, Haryana consequent to our Company's conversion into a public limited company.
In 2023, the US dominated the global prescription pharmaceutical market with a commanding 43.5% share. (Source: F&S Report) This dominance is attributed to several factors, including a robust healthcare infrastructure, a favorable regulatory environment, an innovative reimbursement mechanism, significant investments in R&D, and a large population with high healthcare expenditure and affordability. (Source: F&S Report) Additionally, according to F&S, the US leads in the share of first launches globally, with 65% of new medicines launched in 2021 being first launched in the US.
We are a pharmaceutical formulations company, driven by innovation through focused research and development, with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States. Based on the peer set (six listed Indian companies assessed by F&S), we are the only Indian pharmaceutical player with a complete focus on regulated markets. (Source: F&S Report) As on March 31, 2024, we have a portfolio of 69 active ANDA and NDA products approved by the USFDA, 19 new products awaiting USFDA ANDA approval and 46 product candidates in development.
Peer Comparison:
- Sun Pharmaceutical Industries Limited
- Aurobindo Pharma Limited
- Zydus Lifesciences Limited
- Strides Pharma Science Limited
- Dr. Reddy's Laboratories Limited
- Alembic Pharmaceuticals Limited
- Lupin Limited
Rubicon Research Ltd IPO Key Points
Strengths
- We are the fastest growing Indian pharmaceutical company amongst our peers and the only Indian company focused completely on the US market.
- Our data-driven product selection framework has allowed us to build a product portfolio with a combination of new and specialty products allowing us to withstand pricing pressures.
- Our R&D capabilities and continuing investment allow us to pursue complex products that offer strong revenue opportunities.
- Robust sales and distribution capabilities in the US.
- Strong track record of compliance combined with expertise in cost effective manufacturing
Risk
- As on March 31, 2024, we derive ?8,317.14 million and 97.40% of our revenue from operations from the United States and any adverse developments in the United States could have an adverse effect on our business and results of operations.
- As the manufacture of our products is technically complex and highly regulated, product recalls, regulatory inspection failures or shortcomings at our manufacturing facilities or other problems may reduce sales, adversely affect our business, financial condition and results of operations and delay the launch of new products, and in some cases may lead to closures of our facilities.
- We have a history of net losses, negative earnings per share (EPS) and return on capital employed. We need to generate and sustain increased revenues while managing our expenses to achieve profitability, and our inability to achieve these goals may have an adverse effect on our business, results of operations, cash flows and financial condition.
Strategy
- Grow our Portfolio of specialty Products and drug-device combinations.
- Continue to develop new products and build leadership positions in regulated markets for generic products.
- Expand our US market presence and leverage our intellectual property and product portfolio in other key regulated markets.
- Pursue synergistic business development and external innovation opportunities.
- We are the fastest growing Indian pharmaceutical company amongst our peers and the only Indian company focused completely on the US market.
- Our data-driven product selection framework has allowed us to build a product portfolio with a combination of new and specialty products allowing us to withstand pricing pressures.
- Our R&D capabilities and continuing investment allow us to pursue complex products that offer strong revenue opportunities.
- Robust sales and distribution capabilities in the US.
- Strong track record of compliance combined with expertise in cost effective manufacturing
How To Apply for Rubicon Research Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
