Anthem Biosciences Ltd. IPO

S.Prusty
Tue, 15 Jul 2025 20:16:54 +0000
IPO & NFO

About

Anthem Biosciences is a leading innovation-driven and technology-focused Contract Research, Development, and Manufacturing Organization (CRDMO) based in India. With fully integrated operations across drug discovery, development, and commercial manufacturing, the company serves as a one-stop solution for a global clientele, including emerging biotech firms and large pharmaceutical companies.

As one of the youngest and fastest-growing Indian CRDMOs, Anthem achieved the ₹10,000 million revenue milestone within just 14 years of operations (Fiscal 2021), and recorded the highest revenue growth among peers in Fiscal 2024, according to the F&S Report.

IPO Details

Price Band | 540 - 570
Minimum Lot Size Retail | 26/Lot (14,820)
Maximum Lot Size Retail | 13 Lots (1,92,660)
Minimum Lot Size HNI | 14 Lots (2,07,480)
Maximum Lot Size HNI | 67 Lots (9,92,940)
Issue Type | Offer for Sale (OFS)
Issue Size | 5,95,61,404 shares

(aggregating up to ₹3,395.00 Cr)|

IPO Timeline

Issue Period | 14th July - 16th July 2025
Allotment Date | 17th July 2025
Refund Initiation Date | 18th July 2025
Demat Transfer Date | 18th July 2025
Listing Date | 21st July 2025
|

Strengths:

1. Anthem Biosciences is among the few Indian CRDMOs with fully integrated capabilities across small molecules and biologics, offering end-to-end services from discovery to commercial manufacturing.

2. The company has pioneered the adoption of green chemistry techniques in India such as biotransformation, flow chemistry, and enzymatic processes, which reduce waste and improve cost-efficiency.

3. It has a strong global client base of over 500 customers and a proven track record, having contributed to the commercialization of multiple blockbuster molecules and supported clients involved in multi-billion dollar M&A deals.

4. Anthem reported a revenue growth of 34.3% from FY23 to FY24—the highest among its peers—alongside industry-leading return on capital employed (25.7%) and strong EBITDA margins of 36.3%.

5. The company’s innovation-led R&D model has resulted in advanced platforms such as ADCs, RNAi delivery systems using glycolipids, and bio-catalysis solutions, placing it at the forefront of drug development technologies.

Risk Factors:

1. Anthem operates under multiple international regulatory bodies, and any delays, non-compliance, or increased scrutiny could adversely impact its operations and client relationships.

2. The company’s capacity expansion plans could result in overcapacity if demand fails to meet expectations, leading to inefficiencies and higher operational costs.

3. A shortage of skilled professionals in highly specialized biotech roles may affect the company’s ability to deliver projects on time and maintain quality standards.

4. Operating in both regulated and semi-regulated markets exposes Anthem to pricing pressures, particularly in tender-based businesses where competition can erode margins.

5. Ongoing expansions, including large-scale facility development, pose execution risks such as construction delays, regulatory bottlenecks, and cost overruns that could impact growth projections.

Check the Allotment Status:

To check your allotment status – click here.

Financials of Anthem Biosciences

Particulars | FY22 | FY23 | FY24
Revenue from Operations | 12,312.56 | 10,569.24 | 14,193.70
Profit After Tax (PAT) | 4,047.06 | 3,859.41 | 3,670.62
Earnings Per Share (EPS) | 7.11 | 6.75 | 6.48
Return on Equity (ROE) | N/A | N/A | 20.0%
Return on Capital Employed (ROCE) | N/A | N/A | 25.7%
Total Assets | 14,347.78 | 18,776.01 | 24,531.93

IPO FAQs

What is an IPO and how does it work?

An IPO (Initial Public Offering) is when a private company offers its shares to the public to raise capital and becomes publicly listed. In India, companies list their shares on exchanges (NSE/BSE) through IPOs. During the IPO subscription period, investors bid for shares via a broker or trading app. After the IPO closes, shares are allotted to investors and start trading on the stock market.

How to apply for an IPO with Zerodha or Upstox?

You can apply through online brokers like Zerodha or Upstox. For example, Zerodha’s Kite platform lets you apply via UPI or ASBA: log in to Kite, go to Bids → IPO → Apply, select the IPO, enter your bid quantity and price, submit, and approve the UPI mandate. Upstox works similarly: log in to the Upstox app or website, find the IPO section, select the IPO, enter lot size and bid price, input your UPI ID, and authorize the payment. Make sure your Demat account and linked bank account are ready before applying.

How is an IPO allotted to investors?

IPO shares are allocated by category. Typically, Indian IPOs have quotas for Retail, High Net Worth Individuals (HNIs), and Qualified Institutional Buyers (QIBs). Retail and HNI allotments usually use a lottery if oversubscribed, whereas QIBs get prorata allotment. For example, if demand from retail investors far exceeds available shares, a lottery (draw) decides who gets shares. Unsuccessful applicants simply get their blocked funds released.

What is GMP (Grey Market Premium) in an IPO?

GMP stands for Grey Market Premium. It is the unofficial premium above the IPO price that shares trade for in the grey market before listing. For example, if an IPO is priced at ₹100 and grey market traders are paying ₹120 per share, the GMP is ₹20. A positive GMP indicates strong demand and suggests potential listing gains, but remember this market is unregulated and unofficial, so GMP is only an indicative signal, not a guarantee.

What is the IPO calendar and where can I find upcoming IPOs?

An IPO calendar is a schedule of upcoming IPO issues (opening/closing dates, sizes, etc.). In India, IPO calendars are published on financial websites and exchange portals. For instance, sites like Chittorgarh or IPOWatch list upcoming IPOs and their timelines. You can also check NSE or BSE official websites under “New Listings” or “Upcoming Issues” for authoritative updates.

What are IPO listing gains and how do they work?

Listing gain is the profit an investor makes if a stock’s listing (opening) price is higher than its IPO issue price. In other words, if you bought at ₹150 and the stock opens at ₹200 on day one, your listing gain is ₹50 per share. Many investors apply to IPOs hoping for such gains. However, share prices can also fall on listing day if demand is weak, so listing gains are not guaranteed.

How does an IPO give profit to investors?

Investors profit from IPOs mainly in two ways: listing gains and longterm growth. On listing day, a share price often jumps if demand is strong, yielding an immediate gain. Over the longer term, if the company performs well, investors can earn from stock price appreciation. As one analysis notes, IPO investors aim for “longterm stock growth or immediate listing gains”. Always remember that IPOs carry risk, so profits depend on both market demand and company fundamentals.

Which IPO is best to buy today?

There’s no one “best” IPO to buy; it depends on the company’s fundamentals and market sentiment. Indian investors typically check the IPO’s prospectus, valuation, and oversubscription levels. The grey market premium (GMP) can give a clue: a high GMP suggests strong demand and potential listing gains. For example, if a GMP is ₹30 on a ₹100 issue, investors expect about a ₹30 upside on listing. However, always do your research on the business model and pricing. High demand or a big GMP doesn’t guarantee a profitable investment, so choose IPOs carefully.

Are IPOs safe investments?

IPOs can be profitable but come with risk. Often a heavily oversubscribed IPO will see a big price jump on day one (strong initial demand). However, many factors affect postlisting performance. As noted, “a high oversubscription does not always mean strong postlisting performance”. New IPO companies may be volatile initially, so share prices can fall if market conditions change. Retail investors should be cautious: IPO gains can be high, but IPOs also carry uncertainties and require strong risk tolerance.

How to check IPO allotment status?

After the allotment date, you can check your IPO status on exchange or registrar websites. For example:

BSE: Go to BSE’s “Application Status Check”, select Equity, pick the IPO and enter your PAN or application number.

NSE: Visit NSE’s “Application Status Check” under Resources/Tools, select your IPO, and enter your PAN/application details.
This will show whether your bid was allotted and how many shares you got. You can also check the registrar’s site (e.g. Bigshare, KFintech) by entering PAN or application number as guided.