The IPO market kicked off the new week with a bang as two companies – Anthem Biosciences and Spunweb Nonwoven made a strong debut on Dalal Street today, July 21.
Anthem lists at a 27% premium
Anthem Biosciences grabbed investor attention right from the start of the week with a sharp 27% premium listing. The shares debuted at Rs 723.10 on the BSE and Rs 723.05 on the NSE, well above the issue price of Rs 570. The Rs 3,395 crore IPO was entirely an offer-for-sale, meaning none of the proceeds will go to the company. Instead, existing promoters and shareholders exited partially through this sale. Despite no fresh funds coming in, the company saw strong demand across investor categories.
Anthem Biosciences IPO highlights
Anthem IPO saw massive investor interest: Anthem’s IPO was subscribed 63.86 times overall. QIBs were the biggest contributors. The portion was subscribed by a whopping 182.65 times.
Furthermore, the Non-institutional investors followed with 42.35 times subscription. Similarly, retail investors also responded positively with a 5.64 times subscription.
GMP buzz: Ahead of listing, the grey market premium hovered around Rs 169. This pointed to an estimated listing price of around Rs 739 per share.
Price band and issue size: The IPO price band of this issue was between Rs 540 to Rs 570 per share, with a face value of Rs 2 and a tick size of Rs 1. Ahead of the opening, the company raised Rs 3,395 crore through the public issue. This included a Rs 1,016 crore contribution from anchor investors ahead of the subscription opening.
Anthem Biosciences: Business dynamics
Anthem Biosciences was founded in 2006. It is a Bengaluru-based CRDMO (Contract Research, Development, and Manufacturing Organization) that supports global pharmaceutical and biotech companies across the drug lifecycle from discovery to development and large-scale manufacturing.
SME player Spunweb steals the spotlight with 57% pop
While Anthem led on the mainboard, SME investor circles were abuzz with Spunweb Nonwoven’s debut on the NSE Emerge platform. The stock listed at Rs 151 per share, a solid 57% above its IPO price of Rs 96.
Spunweb Nonwoven was established in 2015. This company is involved in the production and supply of non-woven fabrics used in everyday items like doormats, bags, carpets, and tarpaulins. The company is noted for its focus on quality, backed by stringent testing and inspection processes.