Anthem Biosciences IPO: Shares to list today, strong debut expected
What's the story
The shares of Bengaluru-based Anthem Biosciences Ltd (ABL) will be listed on the stock exchanges today. The company has set its issue price at ₹570 per share after a successful initial public offering (IPO). The IPO was subscribed 63.86 times, with strong support from qualified institutional buyers (QIBs). Market speculation suggests that the stock could list at a premium of 20-25%.
Offer details
IPO was entirely an offer-for-sale
The ₹3,395-crore IPO was entirely an offer-for-sale (OFS) by promoters Ganesh Sambasivam and K Ravindra Chandrappa, investor shareholders Viridity Tone LLP and Portsmouth Technologies LLC, and other shareholders such as Malay J Barua, Rupesh N Kinekar, Satish Sharma, Prakash Kariabettan and K Ramakrishnan. Against an offer of 4.40 crore shares, the IPO received bids for a staggering 281.44 crore shares.
Subscription details
QIB portion was subscribed 182.65 times
The QIB portion of ABL's IPO was subscribed 182.65 times, while the retail investor and HNIs' quotas were subscribed 5.64 times and 42.35 times, respectively. The employee reserved portion (1.68 lakh shares) was also subscribed 6.59 times. This strong response from different investor categories highlights the market's confidence in ABL's potential as a publicly listed company.
Company profile
Anthem Biosciences is a CRDMO
Anthem Biosciences is an innovation-driven, technology-focused Contract Research, Development, and Manufacturing Organization (CRDMO) with fully integrated operations in Bengaluru. The company works across drug discovery, development, and manufacturing. Ahead of its public share sale opening for subscription, ABL raised ₹1,016 crore from anchor investors such as Abu Dhabi Investment Authority (ADIA), Government Pension Fund Global (GPFG), Eastspring Investments, among others.