Anthem Biosciences Launches ₹3,395 Crore IPO as Contract Research Organization Targets Public Markets
核心洞察
Anthem Biosciences (搜索), a Contract Research, Development, and Manufacturing Organization (CRDMO), is launching a ₹3,395 crore IPO from July 14-16 with shares priced at ₹540-570 each.
The company reported strong financial performance with revenue growing 30% year-on-year to ₹1,844 crore in FY25 and profit after tax increasing 23% to ₹451 crore.
The IPO is entirely an offer for sale by existing shareholders, meaning no proceeds will go to the company for expansion or operations.
Anthem Biosciences (搜索), an innovation-driven Contract Research, Development, and Manufacturing Organization (CRDMO), is set to launch its initial public offering worth ₹3,395 crore from July 14 to July 16. The company has set the price band at ₹540 to ₹570 per share with a face value of ₹2 each, targeting both institutional and retail investors in the pharmaceutical services sector.
Strong Financial Performance Drives Market Entry
The Bangalore-based company demonstrated robust financial growth leading up to its public market debut. Anthem reported revenue of ₹1,844 crore in FY25, representing a 30% year-on-year increase compared to ₹1,419 crore in FY24. The company's profit after tax rose by 23% to ₹451 crore during the same period, indicating strong operational efficiency and market demand for its services.
Offer Structure and Investment Details
The IPO is structured entirely as an offer for sale (OFS) of 5.96 crore shares by existing promoters, investors, and other stakeholders. This means the company will not receive any proceeds from the public offering, with funds going directly to selling shareholders. The issue allocation reserves 50% for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% for retail investors.
Retail investors can participate with a minimum investment of ₹14,820 for a lot of 26 shares. Additionally, equity shares worth up to ₹8.25 crore have been reserved for eligible employees. The anchor book is scheduled to open on July 11, ahead of the main public offering.
Comprehensive Pharmaceutical Services Platform
Founded in 2006, Anthem Biosciences (搜索) operates across the entire pharmaceutical value chain, providing integrated services from drug discovery and development to commercial manufacturing. The company specializes in producing and marketing complex fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics (搜索), enzymes (搜索), peptides (搜索), nutritional actives, vitamin analogues, and biosimilars (搜索).
The company operates two manufacturing facilities in Karnataka, India—Unit I in Bommassandra and Unit II in Harohalli. As of March 31, 2025, these facilities have a combined annual capacity of 270 kL for custom synthesis and 142 kL for fermentation processes, positioning Anthem to serve both domestic and international pharmaceutical clients.
Market Position and Competitive Landscape
Anthem competes in the contract research and manufacturing sector alongside several established listed peers, including Sai Life Sciences Limited, Syngene International (搜索), Suven Life Sciences, and Divi's Laboratories (搜索). These companies represent the leading players in India's growing pharmaceutical services industry, which has benefited from increased outsourcing by global pharmaceutical companies.
IPO Timeline and Market Debut
Following the closure of the public offer on July 16, share allotment is expected to be finalized on July 17, with refund initiation and credit of shares scheduled for July 18. The company's shares are tentatively set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 21.
JM Financial (搜索), Citigroup Global Markets India (搜索), JP Morgan India (搜索), and Nomura Financial Advisory and Securities (搜索) (India) are serving as book-running lead managers for the IPO, while Kfin Technologies Limited (搜索) has been appointed as the registrar for the issue.