Anthem Bioscience IPO: Issue booked 29x on ahead of closure as GMP soars 50% in 2 day

The initial public offering (IPO) of Anthem Biosciences saw a solid response from all the categories of investors during the third and final day of the bidding as institutional players joined the party. The issue was overall booked 73 per cent on day one and ended day two with more than 3 times bidding.

Anthem Biosciences, based in Bengaluru, has announced its initial public offering (IPO), aiming to raise Rs 3,395 crore through the sale of up to 5,95,61,404 equity shares. The shares are being offered within a price band of Rs 540-570 each, and investors can apply for a minimum of 26 shares and in multiples thereafter.

According to the data, the investors made bids for 1,26,84,08,310 equity shares, or 28.78 times, compared to the 4,40,70,682 equity shares offered for the subscription by 2.15 pm on Wednesday, July 16, 2025. The three-day bidding for the issue, which kicked off on Thursday, July 10, shall conclude today.

The allocation for qualified institutional bidders (QIBs) was subscribed 65.72 times, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 36.39 times. Allocation of employees was booked 5.11. However, the quota set aside for was subscribed 4.60 times as of the same time.

The company plans to list its shares on both BSE and NSE on July 21, 2025. Key managers for the IPO include JM Financial, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory & Securities (India).

The primary objective of the IPO is to facilitate a fresh share sale rather than an offer for sale (OFS) by promoters and other stakeholders. This move is backed by Anthem Biosciences’ robust financial position and its role as a contract research, development, and manufacturing organisation (CRDMO) with a comprehensive focus on drug discovery and development.

Anthem Bio is valued at a P/E of 71 times (FY25), which is fair compared to industry peers. The company is well positioned to benefit from the growth of the Indian CRDMO industry, cost advantages, and global supply chain shifts, said Geojit Financial Services.

"Its focus on emerging biotech clients, expanding manufacturing capacity, and long-standing customer relationships further support its growth prospects. Hence, we recommend a 'subscribe' rating on a long-term basis," it said.

For the fiscal year ending March 31, 2025, Anthem Biosciences reported a net profit of Rs 451.26 crore on a revenue of Rs 1,930.29 crore, up from a profit of Rs 367.31 crore and revenue of Rs 1,483.07 crore in the previous year. This growth trajectory highlights the company's strong financial performance.

Anthem Biosciences has garnered significant attention in the market, evidenced by the Rs 1,016.02 crore raised from 60 anchor investors, showcasing strong institutional support. The company's operations are driven by innovation and technology, further solidifying its market position.

The grey market premium (GMP) for Anthem Biosciences has surged by 50 per cent over the last two days, currently standing at Rs 150-155 per share. This increase suggests potential listing gains of 26-27 per cent for investors, reflecting strong market enthusiasm.

Anthem Bio has wide specialty ingredients portfolio, well positioned to capitalize on the large market opportunity for niche specialty ingredients Company has demonstrated industry-leading growth, profitability and capital efficiency from Fiscal 2024 to Fiscal 2025 alongside a robust growth pipeline, said Hem Securities with a 'subscribe' rating on the IPO.

The IPO subscription details allocate 50 per cent of the offer to qualified institutional bidders, 15 per cent to non-institutional investors, and 35 per cent to retail investors. Additionally, shares worth Rs 8.25 crore are reserved for eligible employees at a discounted rate of Rs 50 per share.