Anthem Biosciences Lists At 27% Premium Over IPO Price

Anthem Biosciences Ltd. made a stellar debut in the secondary market with a premium of 27% over its IPO price. The scrip was listed at Rs 723.05 apiece on the NSE and Rs 723.1 on the BSE. The issue price was Rs 570.

The IPO was a book-building issue of Rs 3,395 crore and entirely an offer for sale from its promoters, investors and other selling shareholders.

Since this IPO was fully an OFS, the contract research, development and manufacturing company will not receive any funds, which will be directed to the selling shareholders.

Anthem Biosciences IPO received a solid response, particularly from Qualified Institutional Buyers (QIBs) who subscribed 182.65 times, followed by non-institutional investors (NIIs) at 42.36 times.

Retail investors' quota had a subscription rate of 5.64 times. By the end of the third day, the Anthem Biosciences IPO subscription status stood at 63.86 times.

The initial share sale received bids for 281 crore shares against 4.4 crore shares on offer.

Anthem Biosciences is an innovation-driven and technology-focused contract research, development, and manufacturing organisation (CRDMO) with integrated operations encompassing drug discovery, development, and manufacturing processes.

The company serves customers, including emerging biotech firms and large pharmaceutical companies on a global scale. It manufactures specialized fermentation-based APIs, including probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.

Listed peers of Anthem Biosciences include Sai Life Sciences Ltd, Syngene International Ltd., Suven Life Sciences Ltd., and Divi’s Laboratories Ltd.