Anthem Biosciences IPO Sees Strong Demand, Oversubscription on Day Two

The initial public offering (IPO) of Anthem Biosciences Ltd received a robust response, achieving full subscription by the second day of bidding on Tuesday. The IPO garnered bids for 52,497,042 shares against the 44,070,682 shares available, translating into 1.19 times subscription, as per data from the National Stock Exchange (NSE) as of 10:54 am.

The subscription was notably buoyed by non-institutional investors, whose category fetched 2.94 times subscription. Retail individual investors (RIIs) subscribed to 91 percent of their designated portion, while qualified institutional buyers (QIBs) saw a 38 percent subscription. Anthem Biosciences has raised Rs 1,016 crore from anchor investors.

With a price band set between Rs 540 to Rs 570 per share, the Rs 3,395-crore IPO of the Bengaluru-based firm will conclude on Wednesday. Notably, the IPO is an offer for sale (OFS), meaning that the company won't receive any proceeds, which will instead benefit the selling shareholders. Anthem is known for its innovation-driven and technology-focused contract research, development, and manufacturing operations, particularly in the realm of complex, fermentation-based APIs.

(With inputs from agencies.)