Anthem Biosciences Ltd IPO 2025 Review: Dates, Price Band, Subscription, Allotment & Listing Outlook
Anthem Biosciences Ltd IPO opened on July 14, 2025 and closed on July 16, 2025. Here's an in-depth look at the IPO details, subscription status, growth prospects, and investor checklist.
📌 Quick Snapshot
| Attribute | Details |
|---|---|
| IPO Open Date | July 14, 2025 |
| IPO Close Date | July 16, 2025 |
| Allotment Date | July 17, 2025 |
| Refunds / Demat Credit | July 18, 2025 |
| Listing Date | July 21, 2025 |
| Price Band | ₹540 – ₹570 per share |
| Lot Size | 26 shares (₹14,820) |
| Issue Size | ₹3,395 crore (100% OFS) |
| Investor Quota | QIB 50%, Retail 35%, NII 15%, Employees ~₹8.25 Cr |
| Face Value | ₹2 per share |
| Employee Discount | ₹50 per share |
| Listing Performance | Listed at ₹725 on NSE — ₹155 gain (26.85%) |
About Anthem Biosciences Ltd
Anthem Biosciences Ltd, incorporated in 2006 and headquartered in Bengaluru, is an integrated CRDMO — Contract Research, Development and Manufacturing Organisation. With two commercial plants in Karnataka and a third under construction, Anthem offers end-to-end drug development services including chemical synthesis, fermentation-based APIs, peptides, enzymes, biosimilars and nutritional actives.
Operational Strength & Infrastructure
- Over 550+ global clients across 44 countries, including the US, Europe and Japan.
- 196 active projects as of FY24.
- Fermentation capacity expanding from 142 kL to ~182 kL by mid‑FY26.
- 800+ employees including 600+ scientists, plus 8 granted patents and 24 pending.
IPO Financial Snapshot
Anthem has consistently posted strong growth over the past three years:
- Revenue: ₹1,133.99 Cr (FY23) → ₹1,483.07 Cr (FY24) → ₹1,930.29 Cr (FY25).
- Profit After Tax: ₹385.19 Cr → ₹367.31 Cr → ₹451.26 Cr.
- Net Worth: ₹1,740.67 Cr → ₹1,924.66 Cr → ₹2,409.86 Cr.
- Total Borrowing: reduced from ₹232.53 Cr to ₹108.95 Cr.
Why Investors Are Watching
Anthem enjoys multiple strengths that appeal:
- Integrated CRDMO model covering discovery to manufacturing — rare in India.
- Global reach in regulated markets, including complex fermentation-based APIs.
- Robust financials: 70%+ revenue growth, low debt, PAT margin of 23%, ROE ~20.8%, ROCE ~26.9%.
- Cutting-edge R&D: 196 projects, patented tech, and strong scientific talent.
Risks & Challenges
- High valuation: P/E is ~70.6× at upper band—premium vs. peers.
- Flow‑through Offer for Sale means no new capital raised by company.
- Dependency on CRDMO business (82% of revenue) may amplify sector-specific risks.
- Regulatory, capacity utilisation, or pricing pressures could impact future performance.
Subscription & GMP Status
As of midday July 15:
- Total Subscription: ~2.08× on Day 2.
- Retail + Employee + NII: healthy traction; QIB still picking up.
- Grey Market Premium (GMP): ₹110–₹130, suggesting ~20–23% potential listing gain.
✅ Should You Subscribe?
In our view:
- Anthem’s strong fundamentals and global reach make it a high-quality CRDMO IPO.
- At ~70× P/E, it's priced ambitiously—long-term investors may benefit, but short-term gains are speculative.
- GMP suggested strong listing—and it delivered 26.85% gain on debut.
- QIB traction toward the close indicated rising institutional confidence.
📌 How to Apply on IPOPrime
- Log in to your Demat account (Zerodha, Groww, Upstox, etc.).
- Search "Anthem Biosciences IPO" and apply at ₹540–₹570.
- Choose lot(s)—min 26 shares, max 13 lots (338 shares).
- Submit and complete mandate by July 16.
- Check allotment on July 17 and listing on July 21.
🔗 Useful Links
- IPOPremium – Anthem Biosciences IPO overview
- Economic Times – IPO opens July 14
- Economic Times – Subscribed ~2× on Day 2
📌 Anthem Biosciences Opportunity
Anthem Biosciences IPO presented a rare opportunity to invest in a top-tier Indian CRDMO with global traction, strong financials and expansion plans. Priced at ₹540–570, the valuation was steep but justified by growth potential. With listing at ₹725 (₹155 gain), early subscribers were rewarded. Long-term investors may hold for growth, while short-term traders may book profits on momentum.
💼 What to Monitor Next:
- Post-listing performance and stock stability
- Q1 and Q2 FY26 earnings updates
- Progress on fermentation capacity expansion
- New project wins or strategic alliances
📣 Don’t Miss Out!
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