Anthem Biosciences IPO Allotment GMP Highlights: The share allotment for the Anthem Biosciences IPO was finalised on July 17. The IPO, which remained open for bidding from July 14 to July 16, drew strong interest across investor categories, with the overall issue oversubscribed nearly 64 times. The Rs 3,395-crore issue was entirely an Offer for Sale (OFS), with promoters and existing shareholders offloading approximately 5.96 crore equity shares. No fresh equity was issued in this round. The price was fixed at Rs 570 per share, and the offer was structured as a 100% book-built issue.
About the company
Anthem Biosciences, established in 2006, is a Bengaluru-based Contract Research, Development, and Manufacturing Organization (CRDMO). The company provides end-to-end solutions for global pharmaceutical and biotech clients – from early-stage research to commercial-scale manufacturing. Its client base spans 44 countries, including both emerging startups and multinational pharma giants. It is a technology-driven Contract Research, Development, and Manufacturing Organization (CRDMO) focused on innovation. With fully integrated operations across drug discovery, development, and manufacturing, the company supports a wide range of clients, from emerging biotech startups to large global pharmaceutical corporations. Anthem Biosciences specialises in the production of fermentation-based active pharmaceutical ingredients (APIs), including probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.
Book-running manager
JM Financial is leading the IPO as the book-running manager, while Kfin Technologies has been appointed as the registrar, overseeing the allotment and refund process. JM Financial is a diversified and integrated financial services group offering a broad range of solutions across multiple verticals. Its Integrated Investment Banking (IB) segment serves institutional, corporate, government, and ultra-high-net-worth clients, providing services such as investment banking, institutional equities and research, private equity funds, fixed income, private wealth management, portfolio management services (PMS), syndication, and finance. The Mortgage Lending business includes wholesale lending focused on real estate developers, as well as retail lending offering affordable home loans and secured loans to MSMEs. The Alternative and Distressed Credit segment covers the asset reconstruction business and alternative credit funds. Additionally, the Asset Management, Wealth Management, and Securities (Platform AWS) segment offers a comprehensive investment platform for individual clients, including elite and retail wealth management, broking, and mutual fund services. Investors who participated can expect the allotment status to be available online later today.
Anthem Biosciences IPO Allotment Live Updates: Latest GMP
The last GMP for the Anthem Biosciences IPO was Rs.132, which was last updated on July 18, 2025, at 9:30 PM. The estimated listing price for the Anthem Biosciences IPO is Rs.702, which is the cap price plus today’s GMP.The expected gain or loss per share is 23.16%.
Anthem Biosciences IPO Allotment Live Updates: Company's financial performance
Anthem Biosciences has delivered strong and consistent growth over the past five years. Between FY20 and FY25, the company’s revenue grew at a CAGR of 25%, while EBITDA and net profit surged at 30% and 37%, respectively.
A key differentiator for Anthem is its strategic focus on high-margin segments such as Fee-For-Service contracts and niche specialty ingredients. These areas, combined with effective cost controls, enabled the company to post the highest EBITDA margin among its peers in FY25 at 37%. In the same fiscal year, revenue jumped 30%, and the company maintained a robust gross fixed asset turnover ratio of 1.6 times.
Anthem Biosciences IPO Allotment Live Updates: Who are the promoters of the company?
The company’s promoters include Ajay Bhardwaj, Ganesh Sambasivam, K. Ravindra Chandrappa, and Ishaan Bhardwa
Anthem Biosciences IPO Allotment Live Updates: About the company
Anthem Biosciences is one-stop service provider across the drug life cycle (drug discovery, development and manufacturing) fastest growing for both small molecules and biologics with integrated chemical and biology entity one of the only few companies catering it. Post the expansion its fermentation capacity of 182 kL is expected to be more than 6 times the 2nd largest assessed player in this industry.
Anthem Biosciences IPO Allotment Live Updates: Latest GMP
The last GMP for the Anthem Biosciences IPO was Rs.132, which was last updated on July 18, 2025, at 6:32 PM. The estimated listing price for the Anthem Biosciences IPO is Rs.702, which is the cap price plus today's GMP.The expected gain or loss per share is 23.16%.
Anthem Biosciences IPO Allotment Live Updates: Total Subscription
The Anthem Biosciences IPO was subscribed 67.42 times on the last day of bidding, July 16. The issue attracted interest from different types of investors. The retail portion was subscribed 5.98 times. The Qualified Institutional Buyers (QIB) category saw an impressive 192.80 times subscription. The Non-Institutional Investors (NII) segment was subscribed 44.70 times.
Anthem Biosciences IPO Allotment Live Updates: Product portfolio
In addition to its CRDMO business, Anthem Biosciences manufactures fermentation-based APIs and speciality ingredients like probiotics and biosimilars. By FY26, it plans to increase fermentation capacity to 182 kL (28%) in order to spur growth and boost the reputation of global manufacturing.
Anthem Biosciences IPO Allotment Live Updates: Price band
The price band for the Anthem Biosciences IPO has been fixed at Rs. 570 per share. Retail investors can apply for a minimum of one lot, which comprises 26 shares, requiring an investment of Rs. 14,040. For small non-institutional investors (sNII), the minimum application size is 14 lots or 364 shares, amounting to Rs. 2,07,480. For big non-institutional investors (bNII), the minimum bid is 68 lots or 1,768 shares, translating to an investment of Rs. 10,07,760.
Anthem Biosciences IPO Allotment Live Updates: Listing date
Anthem Biosciences IPO bidding window was open from July 14 to July 16, 2025. The allotment of shares was finalised on Thursday, July 17, 2025. The IPO is scheduled to be listed on the BSE and NSE, with a tentative listing date set for Monday, July 21, 2025.
Anthem Biosciences IPO last GMP is Rs. 140, last updated on Jul 18th 2025 03:28 PM. Considering the price band of 570.00, estimated listing price for Anthem Biosciences IPO is Rs 710. Expected gain/loss for per share is 24.56%.
Anthem Biosciences IPO Allotment Live Updates: Subscription recap
The Anthem Biosciences IPO was subscribed 67.42 times on the final day of bidding, July 16. The issue saw demand across investor segments - the retail portion was subscribed 5.98 times, the Qualified Institutional Buyers (QIB) category witnessed a massive 192.80 times subscription, while the Non-Institutional Investors (NII) segment was subscribed 44.70 times.
Anthem Biosciences IPO Allotment Live Updates: Promoters of the company
The company’s promoters include Ajay Bhardwaj, Ganesh Sambasivam, K. Ravindra Chandrappa, and Ishaan Bhardwaj.
Anthem Biosciences IPO Allotment Live Updates: GMP update
Anthem Biosciences shares are currently commanding a premium of Rs 144 in the grey market, indicating a potential listing price of around Rs 714 per share. This reflects a 25.26% gain over the IPO's upper price band of Rs 570.
However, investors should note that this is not the official listing price. Actual listing levels may vary depending on market sentiment and demand on the day of debut.
Anthem Biosciences IPO Allotment Live Updates: Wide product portfolio
Anthem Biosciences produces fermentation-based APIs and specialty ingredients like probiotics & biosimilars, which complements its CRDMO business. It’s expanding fermentation capacity to 182 kL (28%) by FY26 to drive growth and enhance global manufacturing credibility.
Anthem Biosciences IPO Allotment Live Updates: Motilal Oswal on Anthem IPO
"At Rs 570, issue is priced at 71x FY25 P/E as compared to the listed peers average of ~95x. ABL, the only CRDMO in India with robust capabilities in both small molecules and biologics. Given the strong industry tailwinds, ABL is well positioned to capitalize on market opportunities through its capacity expansion. We favor ABL for its strong financial performance, expanding global client base, and industry-leading metrics," said Motilal Oswal in its report on Anthem Biosciences.
Anthem Biosciences IPO Allotment Live Updates: Deven Choksey on Anthem Biosciences
The company has presence in all fast-growing segments including ADC’s, peptides (semi-glutides / GLP-1), oligonucleotides, and RNA based therapies, which the brokerage expects will support its drug discovery pipeline and help in commercialize key drugs for its partners and customers, said Deven Choksey.
Anthem Biosciences IPO Allotment Live Updates: About Anthem Biosciences
Anthem Biosciences is one-stop service provider across the drug life cycle (drug discovery, development and manufacturing) fastest growing for both small molecules and biologics with integrated chemical and biology entity one of the only few companies catering it. Post the expansion its fermentation capacity of 182 kL is expected to be more than 6 times the 2nd largest assessed player in this industry.
Anthem Biosciences IPO Allotment Live Updates: GMP update
As per the latest grey market trends, shares of Anthem Biosciences IPO are trading at a premium of Rs 143, suggesting a potential listing price of Rs 713. This indicates a 25.09% gain over the upper end of the IPO price band, which is set at Rs 570.
However, it is important to note that grey market premiums are unofficial and speculative. The actual listing price may vary depending on market sentiment and investor demand on the day of listing.
Anthem Biosciences IPO Allotment Live Updates: Financial performance
Anthem Biosciences has shown consistent growth over the last five years. From FY20 to FY25, its revenue grew at an annual rate of 25%, while EBITDA and net profit increased at an even faster pace of 30% and 37%, respectively.
What sets Anthem apart is its focus on high-margin areas such as Fee-For-Service contracts and niche specialty ingredients. These segments, along with smart cost management, helped the company achieve the highest EBITDA margin among its peers in FY25 at 37%. Additionally, its revenue rose 30% in FY25, and its gross fixed asset turnover stood at a 1.6 times.
Anthem Biosciences IPO Allotment Live Updates: About the company
Anthem Biosciences, is one of the India’s largest tech-driven CRDMO company with end-to-end capabilities across drug discovery, development, and manufacturing, uniquely offering both NCE and NBE solutions. Its founders have rich industry knowledge and experience, with two of them being instrumental in growth journey of Biocon and Syngene International.
Anthem Biosciences IPO Allotment Live Updates: Company's financial performance stand strong
"We think with a strong track record of 8,000+ projects, deep engagement with 675+ clients, and a robust pipeline of 242 active projects, Anthem has demonstrated sustained innovation through early adoption of advanced modalities like ADC, RNAi, and flow chemistry, and a leadership position in green chemistry," said Mehta Equities.
The company’s strategic focus on small and emerging biotechs has yielded long-standing relationships and proven value, evidenced by multiple clients being acquired by large pharma. By looking at the financials, the company has demonstrated strong revenue from growth in FY24 and FY25, growing by 34.3% and 30% while the net profit surged by 22.9% in FY 2025 from a dip of 4.6% in FY 2024.
Anthem Biosciences IPO Allotment Live Updates: Mehta Equities on Anthem Biosciences
"Considering the strong structural growth opportunity in the CRDMO space and the company has a differentiated, innovation-led platform, we believe it may command a premium valuation relative to its peers post listing. As it is operationally, highly automated, globally compliant facilities and 100+ audits over three years reinforce execution strength and quality standards. Hence, looking at all its attributes, we recommend investors to 'Subscribe' to the Anthem Biosciences Ltd IPO for a long-term perspective," said Mehta Equities in a note.
Anthem Biosciences IPO Allotment Live Updates: Anand Rathi Research on Anthem Biosciences
"On valuation parse, based on annualised FY25, it is seeking PE of 70.6 times, and post issue market cap comes at Rs 31,867.3 crore, with this, the issue is fairly priced. We believe company has potential to continue to grow its revenue and profitability ratios compared to its peers. Hence, we give a 'Subscribe' rating for the issue," said Anand Rathi in an IPO note.
Anthem Biosciences IPO Allotment Live Updates: Updated GMP
As of July 17, 2025, 09:37 PM, the last reported Grey Market Premium (GMP) for the Anthem Biosciences IPO is Rs 138. Based on the upper end of the price band set at Rs 570, the estimated listing price is Rs 708. This suggests a potential gain of approximately 24.21% per share on listing.
Anthem Biosciences IPO Allotment Live Updates: Updated GMP
As of July 17, 2025, 8:34 PM, the latest Grey Market Premium (GMP) for Anthem Biosciences IPO stands at Rs 138. With the IPO price band capped at Rs 570.00, the estimated listing price is projected to be around Rs 708. This suggests an expected gain of approximately 24.21% per share on listing.
Anthem Biosciences IPO Allotment Live Updates: About the lead manager of the IPO
JM Financial Limited is the book-running lead manager and Kfin Technologies Limited is the registrar for the issue.
Anthem Biosciences IPO Allotment Live Updates: Latest GMP
On July 17, 2025, at 7:36 PM, the Anthem Biosciences IPO's most recent GMP was Rs 138. The anticipated listing price for Anthem Biosciences' IPO is Rs 708 (cap price + today's GMP), with a price range of Rs 570.00. This suggests a 24.21% per share projected gain.
Anthem Biosciences IPO Allotment Live Updates: Share allocation
Anthem Biosciences is offering a total of 59,575,320 shares in its IPO. Of these, 29,708,333 shares (49.87%) are allocated to Qualified Institutional Buyers (QIB), 11,883,334 shares (19.95%) to Non-Institutional Investors (NII), 8,912,500 shares (14.96%) to Retail Individual Investors (RII), and 17,824,999 shares (29.92%) to Anchor Investors.
Anthem Biosciences IPO Allotment Live Updates: GMP details
The last GMP for Anthem Biosciences IPO was Rs. 142, updated on July 17th, 2025, at 6:30 PM. With a price band of Rs. 570, the estimated listing price is Rs. 712 (cap price plus today's GMP). This implies an expected gain of 24.91% per share.
Anthem Biosciences IPO Allotment Live Updates: Important dates
Anthem Biosciences' IPO followed its scheduled timeline, with the subscription window open from July 14 to July 16. The offering saw strong investor interest, and the share allotment is expected to be finalized today, July 17. For applicants who do not receive an allotment, refunds or credit of shares to demat accounts are expected by July 18. The company is set to debut on the stock market on July 21, with its shares scheduled to be listed on both the NSE and BSE.