New week, new IPOs. The IPO street sees a major entrant this week as Anthem Biosciences opens its Rs 3,395 crore public offering for subscription today, July 14. This mainboard IPO is entirely an offer-for-sale (OFS), meaning the company itself won’t raise fresh capital and all proceeds will go to existing shareholders.
With a three-day window that closes on Wednesday, July 16, let’s take a look at the key details investors should be aware of this IPO
Anthem Biosciences IPO: Details and timeline
The price band for the Anthem Biosciences IPO is set between the range of Rs 540 to Rs 570 per share. The issue comprises 5.96 crore equity shares being sold by promoters and other existing shareholders.
Since there is no fresh issue component, the company won’t receive any funds from the IPO. The allotment of shares is expected to be finalised on July 17, and the shares are scheduled to be listed on both the NSE and BSE on Monday, July 21.
Anthem Biosciences IPO: Grey Market Premium (GMP) hints
In the unregulated grey market, Anthem Biosciences shares are currently commanding a premium of Rs 100 over the upper band of Rs 570. This suggests a potential listing price of around Rs 670, a gain of nearly 17.5%. However, investors should treat grey market indications cautiously as they are speculative and not always reflective of the final listing outcome.
Anthem Biosciences IPO: Anchor investors
Ahead of the public offering, Anthem Biosciences raised Rs 1,016 crore through its anchor book. The company allotted 1.78 crore shares at Rs 570 apiece to a group of 60 institutional investors.
This list of participants includes names such as Abu Dhabi Investment Authority, Government Pension Fund Global, Eastspring Investments, Amundi Funds, Societe Generale, and top Indian mutual funds like HDFC MF, ICICI Prudential MF, UTI MF, Axis MF, and Quant MF.
Anthem Biosciences IPO: Lot size and share allocation
Retail investors can bid for a minimum of one lot comprising 26 shares. The IPO follows the traditional allocation structure with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs). Investors can place bids during the three day window, and allotment status will be known on July 17.
Anthem Biosciences IPO: What the company does
Anthem Biosciences is a Contract Research, Development, and Manufacturing Organisation (CRDMO). It operates across the entire pharmaceutical value chain from early stage drug discovery to full scale manufacturing. The company is known for producing complex, fermentation based active pharmaceutical ingredients (APIs), including enzymes, peptides, probiotics, biosimilars, and nutritional actives.
Anthem serves both domestic and international pharmaceutical companies and is positioned alongside listed peers such as Divi’s Laboratories, Syngene International, and Suven Life Sciences.