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Time of India
2 days ago
- Business
- Time of India
Anthem Biosciences IPO: What GMP signals ahead of listing on Monday
Anthem Biosciences is set to debut on the stock exchanges on Monday, July 21. In the unlisted market, its shares are trading at a premium of Rs 165–170, indicating a potential listing gain of around 29% over the IPO price of Rs 570 (upper band). While the grey market premium (GMP) reflects strong investor interest, it remains a speculative indicator and can change quickly before listing. Explore courses from Top Institutes in Select a Course Category others Healthcare Leadership Finance Data Science Design Thinking healthcare Technology Others PGDM Operations Management Degree Digital Marketing Cybersecurity MCA Management Product Management Artificial Intelligence Data Science CXO Public Policy Project Management Data Analytics MBA Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Average Cost To Rent A Private Jet May Surprise You (View Prices) Private Jet I Search Ads Learn More Undo The Rs 3,395 crore IPO was entirely an offer for sale (OFS) and closed on July 16. It witnessed robust demand, with an overall subscription of 67.42 times. The Qualified Institutional Buyers (QIB) segment was subscribed 192.80 times, Non-Institutional Investors (NII) 44.70 times, and the retail portion 5.98 times. The issue was priced in a band of Rs 540–570 per share, with a minimum lot size of 26 shares. The stock will list on both NSE and BSE. About Anthem Biosciences Founded in 2006, Anthem Biosciences operates in a niche segment of the pharma value chain, offering end-to-end drug discovery, development, and manufacturing services. It is among the few Indian CRDMOs with integrated capabilities across both small molecules (chemical-based) and large molecules (biologics). Live Events Its differentiated fee-for-service (FFS) model has enabled it to cater to small and mid-sized biotech firms globally, which constitute a large portion of its client base. Since its inception, the company has served over 675 clients and completed more than 8,000 projects. In FY25, Anthem reported strong financials, with an EBITDA margin of 36.8% and a Return on Net Worth (RoNW) of 20.8%. As of March 2025, the company's net worth stood at Rs 2,410 crore. Its facilities are cGMP-compliant and approved by global regulatory bodies such as the USFDA, ANVISA, TGA, and PMDA. The company is currently expanding its fermentation and synthesis capacities to meet growing demand for complex biologics and specialty ingredients. JM Financial is the book-running lead manager of the Anthem Biosciences IPO , while Kfin Technologies is the registrar for the issue.
Time of India
4 days ago
- Time of India
Chhangur Baba, associates got funds worth Rs 60 crore including from abroad: ED
The Enforcement Directorate (ED) on Friday said it has found that Chhangur Baba, being investigated in a money-laundering case linked to an alleged illegal religious conversion racket in Uttar Pradesh, had received funds worth Rs 60 crore in 22 bank accounts, including "large amounts" from abroad. The federal probe agency said this in a statement after it concluded searches at more than a dozen locations in Chhangur Baba's native Balrampur district and two places in Mumbai. The raids were launched on Thursday. Explore courses from Top Institutes in Select a Course Category others MBA healthcare Leadership Artificial Intelligence Technology Product Management Data Science Management PGDM Data Analytics MCA Others Digital Marketing Finance CXO Data Science Healthcare Design Thinking Public Policy Degree Project Management Cybersecurity Operations Management Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details The money-laundering case against Chhangur Baba alias Jalaluddin alias Karimulla Shah stems from a recent Uttar Pradesh Anti-Terrorist Squad (ATS) FIR filed at a police station in Lucknow's Gomti Nagar under various sections of the Indian Penal Code and the Uttar Pradesh Prohibition of Unlawful Religious Conversion Act, 2021. Chhangur Baba, his son Mehboob and alleged associates Naveen Rohra alias Jamaluddin and Neetu alias Nasreen were arrested by the ATS. They are currently lodged in jail. The ATS complaint alleges a "large-scale" conspiracy involving unlawful religious conversions, utilisation of foreign funds and activities posing a potential threat to national security. Live Events "Chhangur Baba and his associates are alleged to have established an extensive network operating from the premises of the Chand Auliya Dargah in Balrampur, where he regularly organised large gatherings attended by both Indian and foreign nationals. "He is accused of systematically inducing, coercing and manipulating individuals of other faiths, particularly Scheduled Castes and economically disadvantaged persons belonging to Hindu religion, into religious conversion," the ED said. The agency said it has analysed 22 bank accounts related to Chhangur Baba and his associates and it was found that funds worth more than Rs 60 crore were received by him and his associates. "It was also found that a large amount of funds has been received from foreign countries by Chhangur Baba and his associates," it said. The searches also led to the seizure of a number of documents that show that "proceeds of crime" (illicit funds) were majorly transferred to different people for purchasing a number of immovable properties worth crores of rupees and carrying out construction activities in these properties. All the immovable assets acquired by Chhangur Baba are in the names of his associates, Naveen Rohra and Neetu Rohra, to conceal his actual involvement in money laundering, the ED said. Following the arrest of Chhangur Baba, alleged illegal constructions linked to him in Balrampur were razed by the district administration. Uttar Pradesh Chief Minister Yogi Adityanath had described the actions of the accused as not only anti-social but also "anti-national". Economic Times WhatsApp channel )
