Anthem Biosciences IPO Lists At 26.8% Premium: Should You Buy, Hold, Or Sell?
Anthem Biosciences Share Price: Anthem Biosciences Ltd made a strong stock market debut on Monday, July 21. Its shares were listed at Rs 723 apiece on the BSE, a premium of 26.85 per cent as against the IPO issue price of Rs 570. The share prices rose further and were trading at Rs 730 apiece, as of 10:14 am.
The stock was also listed at Rs 723.05 apiece on the NSE.
Its market capitalisation (m-cap) stood at Rs 40,997.53 crore.
Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organisation (CRDMO) with fully integrated operations spanning across drug discovery, development and manufacturing.
It also manufactures and sells complex specialised fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics, enzymes, peptides, nutritional actives, vitamin analogues and biosimilars.
Anthem Biosciences IPO Listing: Should You Buy, Hold Or Sell?
Brokerages remain largely optimistic about Anthem Biosciences, citing its strong financial track record, niche positioning in the CRDMO space, and robust pipeline. However, a few have flagged concerns over valuations and margin pressures.
However, it cautioned that growth is dependent on the success of pipeline molecules and regulatory compliance, among other risks.
Anand Rathi Shares & Stock Broking noted that Anthem is 'positioned to cater in CROs and CRDMO segment — the crucial players in the pharma and biotechnology industries — wherein it is being niche player with high entry barriers through its differentiated FFS model, long-term relationship, strong R&D, innovation and technology-driven approach."
The brokerage firm added that the company has outperformed peers in profitability and is likely to maintain that edge.
Anthem Biosciences IPO: More Info
The IPO was open for public subscription between July 14 and July 16. It received a strong 67.42 times subscription, garnering bids for 2,81,49,30,794 shares as against the 4,17,50,321 shares on offer. The retail and NII participation stood at 5.98x and 44.70x, respectively. The QIB category received a 192.80x subscription.
The price band of the mainboard IPO, which aimed to raise Rs 3,395 crore, was fixed in the range of Rs 540 to Rs 570.
The IPO is entirely an offer-for-sale (OFS). So, the company will not receive any funds from the issue and the proceeds will go to the selling shareholders.
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