Anthem Biosciences IPO

31.22x

subscribed

Anthem Biosciences IPO

Pharmaceuticals & Drugs
listed
₹14,040Min. investment
  1. Pre-apply
    11 Jul
  2. Bid start
    14 Jul
  3. Bid end
    16 Jul
  4. Allotment
    17 Jul
  5. Release of funds
    18 Jul
  6. Demat transfer
    18 Jul
  7. Listing
    21 Jul

About Anthem Biosciences Limited

SectorPharmaceuticals & Drugs
Price range₹540 – ₹570
IPO type
Regular
Lot size26 shares
Issue size₹3,395Cr
Red Herring Prospectus
Read
Market Cap
₹31,867CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹1,844CrHigher than sector avg

Anthem Biosciences Limited IPO Overview

Anthem Biosciences Limited IPO Date

Anthem Biosciences IPO will open for subscription on July 14, 2025, and the closing date for the IPO is July 16, 2025. After this, investors are expected to be updated about the allotment status on Thursday, July 17, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on July 18, 2025. The shares will be listed on the NSE and the BSE on Monday, July 21, 2025.

Anthem Biosciences Limited IPO Price Band

The IPO includes an offer for sale only. The IPO price band has been set between ₹540 to ₹570 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising an offer for sale of ₹3,395 crore.

The Anthem Biosciences IPO listing price will be determined on July 21, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Anthem Biosciences Limited IPO Lot Size

The Anthem Biosciences IPO details have been declared. The minimum lot size for an application is 26 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹3,395 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹1,844Cr
This sector
₹1,331.47Cr
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹451Cr
This sector
₹193.4Cr
Compare with companies
Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹31,867Cr
This sector
₹10,914.84Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
70.63
This sector
60.87
Compare with companies
D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.05
This sector
0.43
Compare with companies

Objectives

IPO is complete offer for sale
Net IPO proceeds will go to the selling shareholders of the company.
Listing on stock exchanges
The company wants to achieve the benefits of listing its shares on the stock exchange.

Strength and Weakness

End-to-End CRDMO capabilities

The company offers comprehensive one-stop service capabilities across the entire drug lifecycle for both small molecules and biologics, making it one of the few Indian companies with integrated NCE and NBE capabilities across drug discovery, development, and manufacturing. It has recorded the highest revenue growth of 29.96% from FY24 to FY25 compared to Indian and global peers.

Strong customer relationships

The company serves a diverse global customer base of 287 customers across more than 3,000 projects over the last three fiscal years, with the top 10 customers maintaining an average relationship length of 12 years. The customers have successfully supported 10 commercialised innovator molecules from discovery to commercialisation, demonstrating strong customer retention and relationship depth.

Scalable manufacturing infrastructure

The company operates two cGMP-compliant manufacturing facilities with 270 kL custom synthesis capacity and 142 kL fermentation capacity. It plans to further expand its capacity by 130 kL at Unit II and construct Unit III, expected to increase total capacity to 425 kL and 182 kL, respectively, by H1FY2.

Strategic focus on high-growth segment

The company has strategically positioned itself to serve the fast-growing small pharmaceutical and emerging biotech companies’ segment, which is expected to grow at a CAGR of 8.5% vs 4.9% for large pharmaceutical companies in next five years. Over 87% of their customers are small pharma and emerging biotech companies, with successful partnerships through their strategic relationship with DavosPharma providing access to US market opportunities.

About Anthem Biosciences Limited

Incorporated in 2006, Anthem Biosciences is an innovation-driven contract research, development and manufacturing organisation (CRDMO). The company has fully integrated operations spanning across drug discovery, development, and manufacturing. Anthem Biosciences is one of the few companies in India with integrated new chemical entity (NCE) and new biological entity (NBE) capabilities across drug discovery, development, and commercial manufacturing.
The company operates through two key business segments: CRDMO services and the manufacture and sale of specialty ingredients. For FY25, CRDMO services contributed 81.65% of revenue (₹1,506 crore), while speciality ingredients contributed 18.35% (₹338 crore) of total revenue from operations of ₹1,844 crore. Within CRDMO services, R&D contributed 10.87% and D&M (developmental and commercial manufacturing) contributed 70.78% of total revenue for FY25.
The company has three manufacturing facilities: Unit I in Bommassandra, Unit II in Harohalli, and Unit III in Harohalli (under construction, expected to be completed by H1FY26). As of March 31, 2025, they have a custom synthesis capacity of 270 kL and a fermentation capacity of 142 kL, which is the largest fermentation capacity among Indian CRDMO companies. The company plans to further expand its capacity to 425 kL and 182 kL, respectively, by H1FY26.
As of March 31, 2025, the company had more than 550 customers across both the CRDMO and speciality ingredients businesses, spread over more than 44 countries, including the United States, European countries, and Japan. The top five customers collectively accounted for 70.92% of revenue from operations for FY25, with the largest customer contributing 24.22% of revenue. The company serves three large pharmaceutical companies for whom they manufactured 5 of their top 6 commercialised molecules by revenue in FY25.
The global pharmaceutical industry is projected to grow at a CAGR of 6.4% from 2024 to 2029 to reach $2,076 billion by 2029, driven by factors such as growth of the elderly population, rising incidence of chronic diseases, and increasing health awareness. The Indian CRDMO industry, which is one of the fastest-growing globally is likely to grow at a CAGR of 13.4% from 2024 to 2029 to reach an estimated value of $15.4 billion, outpacing the global industry rate of 9.1%.
The company has completed over 8,000 unique programs commissioned by customers and worked on molecules with more than 675 clients at various stages of the drug development lifecycle over the last 15 years. Anthem Biosciences is among three CRDMOs in India that possess technological capabilities across ADCs, RNAi, peptides, and oligonucleotides, which are among the fastest-growing technologies in the pharmaceutical industry, according to the F&S Report. They have established industry-leading profitability and capital efficiency metrics, with their EBITDA margin of 36.81% in FY25 being the highest compared to assessed peers in India and the second highest globally.
Now, Anthem Biosciences Limited is launching its initial public offering (IPO), which is a complete offer for sale worth up to ₹3,395 crore. Its shares will be listed on the NSE and BSE.

IPO Analysis

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IPO REVIEW
Anthem Biosciences IPO
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IPO Subscription Status

Date
QIB
NII
Retail
Total
14-Jul-25
0.37 times (X)
1.54 times (X)
0.59 times (X)
0.73 times (X)
15-Jul-25
0.59X
9.63X
2.09X
3.27X
16-Jul-25
73.65X
36.99X
4.69X
31.22X

Latest News on IPO

news logo
Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.
news logo
Anthem Biosciences IPO: The ₹3,395 crore initial share sale is entirely an offer for sale (OFS) of 59,561,404 shares by promoters, investors and other selling shareholders.

2 min read

news logo
Anthem Biosciences IPO is looking to raise ₹3,395 crore via the offer for sale of 5.96 crore shares. The company will not get any issue proceeds as there is no fresh issuance of shares. The money generated will go to selling shareholders.

3 min read

news logo
Anthem Biosciences IPO allotment: The Bengaluru-based company had set the price range at ₹540-₹570 per share, and a lot consisted of 26 shares. The company seeks to raise ₹3,395 crore via an offer for sale (OFS) of 5.96 crore shares.

3 min read

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Anthem Biosciences IPO ?

The issue size of the Anthem Biosciences IPO is 3395 Cr.

What is 'pre-apply' for Anthem Biosciences IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Anthem Biosciences IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.