What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for Rubicon Research Limited IPO?

Based on the upper price band of ₹485 and current GMP of ₹120, the estimated listing price is ₹605 (approx. 24.7% gain).

What is the expected profit per lot for Rubicon Research Limited IPO?

With a lot size of 30 shares and current GMP of ₹120, expected profit per retail application lot is approximately ₹3,600.

IPO GreyPremiumLIVE

Grey Market Intelligence

Rubicon Research Limited

ListedMainboard

Healthcare · NSE / BSE

Rubicon Research Limited, incorporated in 1999, is a pharmaceutical company focused on developing, manufacturing, and commercializing differentiated formulations. As of June 30, 2025, it has 72 US FDA-approved ANDA and NDA products, with 66 commercialized in a US generic market worth USD 2,455.7 million, contributing USD 195 million in Fiscal 2024. The company has 17 products awaiting US FDA approval and 63 in development, marketing over 350 SKUs to 96 customers, including major wholesalers, pharmacy chains, GPOs, and managed care organizations. Globally, Rubicon has registered or filed 48 products across Australia, the UK, Singapore, Saudi Arabia, and the UAE, planning commercial launch upon approval, and offers contract manufacturing in India, Australia, and New Zealand. Its operations include three manufacturing facilities in India and two US FDA-inspected R&D centers in India and Canada.

Price Band

₹461 – ₹485

Issue Size

₹1378 Cr

Lot Size

30 shares

GMP

₹120

+24.7%

Est. Listing

₹605

at current GMP

Subscribed

109.33x

overall

Open

9 Oct 2025

13 Oct 2025

Allotment

14 Oct 2025

Refund

15 Oct 2025

Demat Credit

16 Oct 2025

Listing

16 Oct 2025

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Rubicon Research Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹120+24.7%

Issue Price (Upper)

₹485

Band: ₹461 – ₹485

Estimated Listing Price

₹605

Upper price + GMP

Lot Size

30 shares

Min investment ₹14,550

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹120	24.7%	₹605
30 Oct 2026	+₹120	24.7%	₹605
29 Oct 2026	+₹108	22.3%	₹593

About Rubicon Research Limited Public Issue & Market Profile

Rubicon Research Limited is bringing an initial public offering (IPO) in the Healthcare sector with an aggregate issue size of ₹1,377.5 Crores. The shares are offered at a price band of ₹461 to ₹485 per equity share on NSE and BSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.

Public Issue & Pricing Context:

Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 30 shares (approx. ₹14,550 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.

Basis of Allotment & Listing Timeline:

Allotment reconciliation will be managed by Link Intime India Private Ltd (MUFG). Eligible allottees will receive credit of equity shares into their Demat accounts by 2025-10-16, while un-allotted funds or UPI block mandates will be released on 2025-10-15.

Frequently Asked Questions

What is Rubicon Research Limited IPO GMP today?

The latest grey market premium for Rubicon Research Limited IPO is ₹120, which indicates an expected listing price of ₹605.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.