Anthem Biosciences Wins Big with Oversubscribed IPO

Anthem Biosciences is making waves with its ₹3,395 crore IPO, which has been fully subscribed on Day 2 of bidding, reflecting strong investor confidence amid a global pharma pivot from China to India.

Company Snapshot

Founded in 2006, Anthem is a Contract Research, Development, and Manufacturing Organization (CRDMO).

• Offers end-to-end drug discovery, development, and manufacturing services.
• Specializes in fermentation-based APIs like probiotics, enzymes, peptides, and biosimilars.
• Facilities are cGMP-compliant, approved by USFDA, ANVISA, TGA, and PMDA.

IPO Highlights

• Price Band: ₹540–₹570 per share.
• Grey Market Premium (GMP): ₹116–₹121, suggesting a ~20% listing gain.
• Subscription Status (Day 2):
• Overall: 2.08x subscribed
• Non-Institutional Investors (NIIs): 5.75x
• Retail: 1.78x
• Qualified Institutional Buyers (QIBs): 44%
• Anchor Investors: Raised ₹1,016 crore from names like Abu Dhabi Investment Authority, Norges Bank, and Societe Generale.
• Listing Date: Tentatively July 21, 2025, on BSE and NSE.

📈 Analyst Sentiment

Brokerages are bullish:

• Motilal Oswal: “Well positioned to capitalize on market opportunities.”
• Anand Rathi: “Profitable track record, strong growth potential.”
• SBI Securities: “Fairly priced with superior margins and returns”.

With big pharma diversifying away from China, Anthem is well-positioned to capture outsourced CRDMO demand, especially in biologics and specialty APIs.