Anthem Biosciences IPO: Issue fully subscribed on day 2; NIIs steal the show; check category-wise status

According to NSE data till 5 PM, the issue was subscribed 3.28 times, with total bids received for 14,47,66,596 shares against the offered 44,070,682 shares.

The non-institutional investors (NIIs) led the subscription with the portion reserved 9.72 times so far, while the retail investors' and qualified institutional buyers' (QIBs') portions were subscribed 2.07 times and 0.59 times, respectively.

The initial public offering of Anthem Biosciences Ltd opened for public subscription on Monday, July 14. The initial share sale, with a price band of ₹540 to ₹570 per share, will end on July 16.

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

Last week, Anthem Biosciences collected ₹1,016 crore in the anchor round from investors, including Abu Dhabi Investment Authority, Eastspring Investments, Government Pension Fund Global, Amundi Funds, PineBridge Global Funds, Societe Generale, HDFC Mutual Fund (MF), Axis MF, UTI MF, Quant MF, and ICICI Prudential MF.

The firm allocated 1.78 crore shares to 60 funds at ₹570 per unit at the upper price band.

Anthem Biosciences IPO allotment is likely to be finalised on July 17. The company's shares will debut on the NSE and the BSE on July 21.

According to investorgain.com, Anthem Biosciences' unlisted shares are trading at ₹694, reflecting a grey market premium (GMP) of 21.75% or ₹124 over the issue price of ₹570.

Anthem is a Contract Research, Development, and Manufacturing Organisation (CRDMO) with operations spanning across drug discovery, development, and manufacturing.

It produces and sells complex specialised fermentation-based APIs (Active Pharmaceutical Ingredients), including enzymes, probiotics, peptides, vitamin analogues, nutritional actives, and biosimilars.

The company's listed peers are Divi's Laboratories, Sai Life Sciences Ltd, Syngene International, and Suven Life Sciences.

Citigroup Global Markets India, JM Financial, Nomura Financial Advisory and Securities (India), and JP Morgan India are the IPO's book-running lead managers, while KFin Technologies is the registrar.