The subscription window for Anlon Healthcare’s initial public offering (IPO) closes today, and investor interest has been strong right from the opening day. The issue, which hit the market on August 26, was fully booked on day one itself. Let’s take look at the GMP update, subscription status and other key details of the issue –
Anlon Healthcare IPO: Investor demand pick up pace
As of the morning of August 29, the IPO has been subscribed over 4 times so far. Retail investors have led the charge with bids nearly 28 times the shares reserved for them.
Non-institutional investors followed with more than 3 times subscription, while qualified institutional buyers (QIBs) portion so far was subscribed at 1.01 times.
Anlon Healthcare IPO: Grey Market Premium
One key indicator investors often track during IPOs is the grey market premium (GMP).
For Anlon Healthcare, the GMP has held firm at Rs 5 per share on the final day of bidding. Based on the IPO’s upper price band of Rs 91, this indicates a possible listing price of around Rs 96.
Overall, looking at the latest GMP trend, this translates into a potential listing gain of about 5% to 6%, if the sentiment holds until debut. However, it is important to note that GMP is an unofficial indicator and can fluctuate based on the market sentiment.
Anlon Healthcare IPO: Key dates to watch
After the three-days bidding process, the basis of allotment is expected on September 1 . The tentative listing date is set for September 3, when the stock will make its debut on the exchanges.
Anlon Healthcare IPO: Brokerage view
The brokerage firm Anand Rathi has given a “Subscribe Long Term” rating to the IPO. In its report, the brokerage firm noted, “At the upper price band company is valuing at P/E of 19.0x to its FY25 earnings, with EV/EBITDA of 16.7x and market cap of Rs 4,836 million post issue of equity shares.”
Anlon Healthcare IPO: What the company does
Founded in 2013, Anlon Healthcare is engaged in the manufacturing of high-purity pharmaceutical intermediates and active pharmaceutical ingredients (APIs). These are key components used in the making of medicines, nutraceuticals, personal care products, and even animal healthcare formulations.