IPO listing: Anthem Biosciences to make stock market debut tomorrow
What's the story
Anthem Biosciences Limited, an innovation-driven and technology-focused contract research, development, and manufacturing organization (CRDMO), will make its stock market debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 21. The company's initial public offering (IPO) was subscribed a whopping 63.86 times by investors during the three-day bidding period from July 14 to July 16. The shares were offered in a price band of ₹540-570 per equity share.
Subscription details
Bids received for over 28.14 crore shares
The IPO of Anthem Biosciences received bids for over 28.14 crore shares against the 4.40 crore shares on offer, as per NSE data. The Qualified Institutional Buyers (QIB) portion was subscribed a whopping 182.65 times, while the Non-Institutional Investors (NII) portion was subscribed 42.35 times, and the Retail Individual Investors (RII) portion received a subscription of 5.64 times.
Allotment process
IPO allotment details
The IPO allotment for Anthem Biosciences was finalized last week. KFin Technologies Limited is the registrar for this public offering. The face value and tick size of the shares are ₹2 and ₹1, respectively. JM Financial Limited, Citigroup Global Markets India Private Limited, JP Morgan India Private Limited, and Nomura Financial Advisory & Securities (India) Private Limited are the book-running lead managers for this IPO.
Business operations
Anthem Biosciences's CRDMO operations
Anthem Biosciences is a technology-focused CRDMO with fully integrated operations in drug discovery, development, and manufacturing. The company also produces complex fermentation-based Active Pharmaceutical Ingredients (APIs) such as probiotics, enzymes, peptides, nutritional actives, vitamin analogs, and biosimilars. HDFC Bank Limited and ICICI Bank Limited are the sponsor banks for this public offering.