Anthem Biosciences IPO sees 10x demand, GMP soars to 28%
What's the story
The initial public offering (IPO) of Bengaluru-based Anthem Biosciences has witnessed robust investor interest. The subscription period for the IPO will end today. So far, it has been subscribed nearly 10 times on the third and final day of bidding process. At the time of writing, the gray market premium stood at 28%. Non-institutional investors (NIIs) led the demand by subscribing to 25.76 times their portion, while qualified institutional buyers subscribed to 8.55 times their share.
Investor participation
Retail investors have also shown a strong response
Retail investors have also shown a strong response, subscribing 3.68 times their portion. The employees' quota was subscribed 4.42 times, further highlighting the widespread interest in Anthem Biosciences' IPO. The company's shares are being offered at a fixed price band of ₹540 to ₹570 per share, valuing the company at over ₹31,800 crore at the upper end of the band.
Fundraising details
Anthem Biosciences is raising ₹3,395 crore through initial share sale
Anthem Biosciences is raising ₹3,395 crore through its initial share sale. The entire amount is an offer-for-sale by existing shareholders such as Viridity Tone and Portsmouth Technologies. The company won't get any money from the public issue. All proceeds, except for offer expenses, will be given to selling shareholders. Before the issue launch, Anthem had already raised ₹1,016 crore from 60 institutional investors via its anchor book.
Investor interest
Incorporated in 2006, Anthem Biosciences is a CRDMO
Marquee investors such as Abu Dhabi Investment Authority, Government Pension Fund Global, Eastspring Investments, Amundi Funds, and PineBridge Global Funds bought shares of the pharma company via anchor book. Incorporated in 2006, Anthem Biosciences is a full-service Contract Research Development and Manufacturing Organization (CRDMO) providing end-to-end solutions to pharma and biotech firms.
IPO timeline
Listing date for the shares is July 21
JM Financial is the book-running lead manager of the Anthem Biosciences IPO, while Kfin Technologies serves as the registrar. The allotment for the Anthem Biosciences IPO is likely to be finalized on July 17. The shares will be listed on BSE and NSE with a tentative listing date set for July 21.