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Oct 22, 2025

Rubicon Research Limited on its initial public offering of equity shares.

AZB & Partners recently advised and represented Rubicon Research Limited on its initial public offering of equity shares, which was undertaken by way of fresh issue and offer for sale, aggregating to INR 13.77 billion.

Rubicon Research Limited is one of the fastest growing Indian pharmaceuticals formulations companies and is the only Indian pharmaceutical player with a complete focus on regulated markets.

The book running lead managers to the IPO were Axis Capital Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), JM Financial Limited and SBI Capital Markets Limited.

Our Capital Markets team was led by our Senior Partners, Varoon Chandra and Lionel D’Almeida our Partner, Rahul Aggarwal; our Senior Associates, Rajat Chadha and Shweta Agrawal and our Associates, Yagnesh Sharma, Shivani Singh, Vaibhav Kumar Shah and Anjali Singit.

And the General Corporate team was led by our Senior Partner, Anand Shah; our Partner, Kinshuk Jhunjhunwala; our Associate Isana Laisram and Samriddhi Pandey

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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