Anlon Healthcare's IPO sees strong demand from retail investors
Anlon Healthcare's IPO opened this Monday and was already 1.69 times subscribed on the first day.
Retail investors really showed up, bidding nearly nine times their share, while non-institutional and institutional buyers also joined in.
Shares are priced between ₹86-91 each, with a lot size of 164 shares.
The company makes high-purity pharmaceutical ingredients
Based in Rajkot, Gujarat, Anlon Healthcare makes high-purity pharmaceutical ingredients used in medicines for things like arthritis and inflammation.
The company runs a certified facility and has over 65 products in its lineup.
In FY25, revenue jumped to ₹120 crore from ₹66 crore last year, with net profit rising to ₹20.5 crore.
Proceeds will go toward expanding capacity and boosting working capital
Money raised will help expand capacity, repay certain borrowings, and boost working capital.
Brokerage Anand Rathi gave a "Subscribe - Long Term" call thanks to the company's strong product base and regulatory approvals but did note that the IPO is fully priced at a P/E of 19x and regulatory risks remain ahead of its NSE SME listing on September 3rd.