Anthem Biosciences IPO Soars with Record Subscription
Anthem Biosciences Ltd's IPO was subscribed 63.86 times by closing day, driven by institutional buyers. The Rs 3,395-crore IPO had a price band of Rs 540-570. Anthem, based in Bengaluru, specializes in drug research, development, and manufacturing. The proceeds will go to the selling shareholders.
- Country:
- India
The initial public offering (IPO) of Anthem Biosciences Ltd was overwhelmingly subscribed 63.86 times by the end of the bidding period on Wednesday. Institutional buyers led this remarkable response, showcasing immense confidence in the company.
According to data from the National Stock Exchange (NSE), the IPO received bids for 2,81,44,34,740 shares, significantly exceeding the 4,40,70,682 shares initially on offer. Qualified Institutional Buyers (QIBs) showed extraordinary interest, with their portion being subscribed 182.65 times. Non-institutional investors and retail individual investors (RIIs) subscribed 42.35 times and 5.64 times, respectively.
Headquartered in Bengaluru, Anthem Biosciences is known for its innovation-driven, technology-focused operations in contract research, development, and manufacturing. Its portfolio includes complex fermentation-based Active Pharmaceutical Ingredients (APIs) such as probiotics, enzymes, and biosimilars. The company's Rs 3,395-crore IPO, priced at Rs 540-570 per share, was an offer-for-sale (OFS), meaning all proceeds will benefit selling shareholders. Leading financial entities managed the issue, boosting investor confidence.
(With inputs from agencies.)
Google News