Prime Highlights
- Anthem Biosciences listed at a 27% listing gain on NSE and BSE.
- After listing, the shares moved higher, hitting ₹746.70 intraday, reflecting high demand from investors.
Key Facts
- The IPO was subscribed by around 64 times on account of robust institutional demand.
- The ₹3,395 crore offer-for-sale got ₹1,016 crore from anchor investors prior to issue.
Key Background
Anthem Biosciences, a leading contract research, development, and manufacturing organization (CRDMO), debuted on the stock exchanges on July 21, 2025, at a listing price of ₹723—about 27% higher than its issue price of ₹570. The listing was highly anticipated since the company has a dominant market share in the biotech manufacturing and research services sector.
The public issue witnessed red hot response, being subscribed nearly 64 times. The Qualified Institutional Buyers (QIBs) led the subscription with 193x subscription, followed by Non-Institutional Investors at 45x and Retail Investors at 6x. The ₹3,395 crore IPO was a traditional offer-for-sale, and portion amounting to ₹1,016 crore had already been set aside from marquee anchor investors before the issue opened.
The company has set itself up as India’s most integrated CRDMO platform company, offering end-to-end drug discovery, development, and manufacturing services. It boasts the largest fermentation capacity in India at 182 kL and has over 675 customers across the world. Its product offerings include high-priority APIs like probiotics, peptides, enzymes, and biosimilars.
Financially, Anthem Biosciences reported good performance in FY25 with revenue of ₹1,930 crore, 37% EBITDA margin, net profit of ₹451 crore, and Return on Net Worth (RoNW) of approximately 21%. These good fundamentals attracted investors despite the valuation being higher, as the post-issue P/E ratio stood estimated at 70x.
Experts have offered diverse recommendations after listing. While a few have been recommending part profit booking due to stretched valuations, others have recommended long-term holding on the basis of the company’s strong growth outlook and leadership position in the industry. The stock is likely to touch ₹900–₹1,000 levels in the forthcoming quarters driven by steady performance and global demand for biotech products, according to analysts.
