Is another IPO set to sizzle on listing day or will it fizzle out? All eyes are on Anthem Biosciences as it hits the bourses today, July 21. After a strong subscription, the big question now is – Will Anthem Bioscience reward investors with a bumper debut, or will market mood play spoilsport?
As it is set to list in Dalal Street today, let’s take a look at what the GMP is pointing at and other key details before the real action begins at 10 am.
Anthem Bioscience IPO listing buzz: What the Grey Market Premium (GMP) is indicating
Ahead of its debut, shares of Anthem Bioscience are trading at a premium of Rs 169 in the grey market, pointing to an estimated listing price of around Rs 739 per share.
This implies a 29.65% potential gain over the issue’s upper price band of Rs 570 per share.
While GMP is often considered an early indicator of listing sentiment, experts caution that the actual listing price could vary depending on market conditions and investor mood during the opening bell.
Anthem Bioscience IPO: Subscription recap
Anthem Biosciences IPO was opened for subscription from July 14 to July 16. It saw overwhelming demand from all categories of investors. The issue was subscribed 63.86 times overall.
Breaking it down, the Qualified Institutional Buyers (QIBs) portion was subscribed 182.65 times their allotted portion. Non-Institutional Investors (NIIs) were not far behind, with a subscription of 42.35 times, while retail investors also participated actively, subscribing 5.64 times the shares reserved for them.
Anthem Bioscience IPO: Price band, size, and registrar
The IPO was priced in the band of Rs 540 to Rs 570 per share, with a face value of Rs 2 and a tick size of Rs 1. The company raised a total of Rs 3,395 crore, including Rs 1,016 crore from anchor investors.
JM Financial acted as the book-running lead manager, and Kfin Technologies served as the registrar.
About the company
Anthem Biosciences, based in Bengaluru, is a tech-driven contract research and manufacturing company. It offers end-to-end services across the drug lifecycle, covering both small molecules and biologics.
The company caters to global clients in the CRO (Contract Research Organisation) and CRDMO (Contract Development and Manufacturing Organisation) space.