Rubicon Research IPO GMP 137 Today (16 Oct), Price Band, Subscription Status, Allotment Date

Rubicon Research IPO Review & Analysis

Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.

Rubicon Research is a mainboard issue raising ₹500.0 Crores, offered in a band of ₹461–₹485 per share. At the upper end that is 485 times the ₹1 face value, so ₹484 of every share subscribed is share premium rather than capital.

A retail application for Rubicon Research needs one lot of 30 shares, which works out to ₹14,550 at the upper band of ₹485. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 69 lots.

For Rubicon Research, allotment is finalised on 14 oct 2025, the shares list on 16 Oct 2025.

The issue is reserved 74.89% to qualified institutional buyers, 14.98% to non-institutional investors, 9.99% to retail. At 9.99%, the retail portion is on the narrower side, so retail allotment turns into a lottery quickly once the book fills. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

The book is 39.51x subscribed across all categories. That headline covers institutional, non-institutional and retail bids together, and allotment odds are decided within each category separately — an issue can be heavily subscribed overall while the retail portion is comfortable, or the other way round. An oversubscribed retail book is settled by a draw on single-lot applications, so more distinct PANs help where a bigger single bid does not.

MUFG INTIME INDIA PRIVATE LIMITED is the registrar for this issue, which means the allotment status for Rubicon Research is published on their portal from 14 oct 2025. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

A grey market premium of ₹137 on the upper band of ₹485 implies a listing gain of roughly 28.2%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.

The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.