Anthem Biosciences Soars on Market Debut, Achieving 28% Premium
Anthem Biosciences Ltd ended its debut trading day with a premium of over 28%. Despite the high opening figures, the company won't receive any funds from its IPO proceeds due to the shares being an Offer For Sale. Anthem focuses on CRDMO with fermentation-based APIs.
- Country:
- India
On Monday, Anthem Biosciences Ltd concluded its first trading day with a notable premium of over 28% above its issue price of Rs 570. The stock surged to Rs 723.10 at the BSE open, climbing 26.85% from the issue price and eventually closing at Rs 730.35.
The company's initial public offering (IPO) valued at Rs 3,395 crore attracted massive interest, primarily from institutional buyers, resulting in a 63.86 times subscription. Listed as an Offer For Sale, the IPO doesn't provide funds to Anthem but to its selling shareholders.
As a Contract Research, Development, and Manufacturing Organisation (CRDMO), Anthem is committed to innovation and technology. It offers integrated services across drug discovery, development, and the manufacturing of complex fermentation-based APIs, including probiotics, peptides, and biosimilars.
(With inputs from agencies.)
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- Anthem
- Biosciences
- IPO
- stock market
- CRDMO
- APIs
- Offer For Sale
- market debut
- premium
- pharmaceutical
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