Anthem Biosciences IPO: A Strong Start with 73% Subscription on Day One

Anthem Biosciences Ltd's initial public offering attracted significant attention on its first day, achieving a subscription rate of 73%. The share sale drew bids for 3,21,13,406 shares out of the 4,40,70,682 shares offered, as per data from the National Stock Exchange.

The IPO saw distinct variations across investor categories. Non-institutional investors oversubscribed their portion 1.55 times. Retail individual investors recorded 58% subscription, while the qualified institutional buyers managed to garner 37% of their allocated shares.

This Rs 3,395-crore IPO, set to close by July 16, does not funnel any capital into the company as it is an offer-for-sale. The funds will benefit selling shareholders, with prices ranging from Rs 540-570 per share. The lead managers for the issue include JM Financial, Citigroup Global Markets India, J P Morgan India, and Nomura Financial Advisory and Securities.

(With inputs from agencies.)