Anthem Biosciences shares make robust debut, list at ₹723.05 on NSE, up 26.85% from IPO price
The initial public offering (IPO), with a total issue size of ₹ 3,395.79 crore, was open for bidding from July 14 to July 16. The offering received an robust response from investors, closing with a subscription of 67.42 times.
The IPO attracted bids for 281.49 crore shares compared to the 4.17 crore shares on offer. The retail investor category was subscribed 5.98 times while the non-institutional investor (NII) segment witnessed 44.70 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 192.80 times. Meanwhile, the employee quota was booked 6.99 times in this period.
The IPO was entirely an offer for sale of 5.96 crore shares with no offer-for-sale. The lot size for the IPO was fixed at 26 shares, with the minimum investment for retail investors set at ₹ 14,040. The issue also included a reservation of up to 1,58,653 shares for employees offered at a discount of ₹ 50.00 to the issue price.
As the IPO is completely an OFS, the company will not acquire any funds from the offering, and the proceeds will be directed to the selling shareholders.
Ahead of the public offering, the company successfully raised ₹ 1,016 crore from anchor investors on July 11.
JM Financial Limited was the book-running lead manager for the issue, while Kfin Technologies was its registrar.
Founded in 2006, Anthem Biosciences Limited is a technology-led, innovation-centric Contract Research, Development, and Manufacturing Organization (CRDMO) offering end-to-end services across drug discovery, development, and manufacturing.
The company caters to a broad global clientele, ranging from emerging biotech startups to leading pharmaceutical giants.
Anthem Biosciences is engaged in the production of niche, fermentation-based active pharmaceutical ingredients (APIs), including probiotics, enzymes, peptides, nutritional ingredients, vitamin analogues, and biosimilars.
The company's listed peers are Syngene International Ltd (with a P/E of 51.54), Sai Life Sciences Ltd (with a P/E of 92.18), Cohance Lifesciences Ltd (with a P/E of 97.29), and Divi's Laboratories Ltd (with a P/E of 83.22).
In the financial year 2024-25, the company reported a 30 percent year-on-year growth in revenue from operations, which rose to ₹ 1,844 crore from ₹ 1,419 crore in FY24. Its profit after tax stood at ₹ 451 crore for the year ended March 31, 2025, reflecting a 23 percent increase compared to the previous year.
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