1. IPO Overview
Anthem Biosciences ipo, a Bengaluru-based contract research, development & manufacturing organization (CRDMO), launched its ₹3,395 crore Offer-for-Sale (OFS) IPO from July 14–16, 2025, with anchor book opened July 11. Price band was set at ₹540–570/share, and the issue size totals ~5.95 crore shares, none of which are fresh equity—proceeds go entirely to existing shareholders.
Key Dates & Timeline
| Event | Date |
|---|---|
| IPO Opens | July 14, 2025 |
| IPO Closes | July 16, 2025 |
| Allotment Finalisation | July 17, 2025 |
| Refunds & Demat Credit | July 18, 2025 |
| Listing on BSE/NSE | July 21, 2025 |
2. Business Model & Capacity Expansion
Specializing in fermentation-based APIs, peptides, enzymes, probiotics, vitamin analogues and biosimilars, Anthem provides end-to-end services—drug discovery through commercialization . With existing facilities in Karnataka, Unit 3 is operational, and Unit 4 is under construction spanning 30 acres—expanding fermentation capacity from 142 kL to 182 kL by FY26. This positions Anthem at the forefront of India’s CRDMO infrastructure.
3. Global Reach & Financial Performance
Anthem serves over 550 clients across 44 countries, including the US, Europe, China, and Japan . In FY25, revenue rose ~30–35% to ₹1,930 cr (from ₹1,483 cr in FY24), and PAT grew ~23% to ₹451 cr. Asset base grew to ₹2,808 cr, with net worth at ₹2,410 cr and borrowing significantly reduced .
4. Strengths & Competitive Edge
- Integrated CRDMO Model: Rare combination across NCEs and NBEs .
- High-Complexity APIs: Focus on fermentation products and peptides yields superior margins .
- Scale & Infrastructure: Expansion drives economies of scale, crucial in biotech .
- Repeat Business: Long-standing relationships with 550+ global clients; ~70% of FY25 revenue from top 5 clients.
- Strong Patents & R&D: Over 196 active projects, 8 patents granted, 24 pending .
5. Risks & Concerns
- OFS Only: No fresh capital; the valuation depends entirely on existing shareholders .
- Client Concentration: Top 5 clients contribute ~71% of revenue .
- Execution Risk: Scaling Unit 4 introduces timelines, cost and regulatory risks .
- Regulatory Scrutiny: CRDMO firms face stringent compliance; any deviations could impact reputation .
- Market Sentiment: Broader IPO environment remains cautious—Anthem Biosciences IPO and others have seen postponed launches. Geopolitical and macro conditions could affect post-listing performance .
6. Market Reception
Anchor investors subscribed 1.78 crore shares at upper price band (₹570), raising ₹1,016 cr. Top sovereign and global institutional names included ADIA, GPFG, Eastspring, Amundi, PineBridge, SocGen. Grey market premium (GMP) is around ₹97—indicating ~17% expected first-day gains .
7. Analyst Opinions
- Anand Rathi, Canara Bank Securities, SBI Securities, SMIFS, Swastika, Ventura, and others have rated the IPO a “Subscribe”, citing its differentiated model, expansion, profitability, and fair pricing .
Final Verdict :“anthem biosciences ipo”
Anthem Biosciences combines scale, specialization, and profitability in a high-growth CRDMO sector. While being an OFS issue, the strong anchor demand and pre-listing premium reflect confidence. The upcoming listing on July 21, 2025, could mark a significant milestone for India’s biotech services sector. Long-term investors seeking exposure to fermentation-based APIs and global pharma partnerships may consider subscribing, though they should monitor execution risks, regulatory compliance, and client diversification.
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The Anthem Biosciences IPO has become one of the most talked-about public issues of July 2025. With a price band of ₹540–570 per share, the Anthem Biosciences IPO aims to raise ₹3,395 crore through an Offer for Sale, without issuing any fresh equity. Investors are keenly watching the Anthem Biosciences IPO due to its strong anchor book participation and grey market premium (GMP) indicating 15–17% expected listing gains. Backed by a solid business model in the CRDMO space, the Anthem Biosciences IPO offers exposure to India’s growing biotech and pharmaceutical outsourcing sector. However, investors should evaluate the risks of high client concentration and execution delays before making any final decision.