The Anthem Biosciences Initial Public Offering (IPO) has generated significant buzz in the financial markets, closing with an impressive subscription rate and a promising Grey Market Premium (GMP). As a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in Bengaluru, India, Anthem Biosciences has positioned itself as a key player in the global pharmaceutical and biotechnology sectors. With its IPO allotment finalized on July 17, 2025, and the listing date set for July 21, 2025, investors are eager to understand the details of this offering, how to check their allotment status, and what to expect from its market debut. This comprehensive guide explores the Anthem Biosciences IPO, its subscription status, financial performance, and the steps to check allotment, while also providing insights into why this IPO is a compelling investment opportunity for long-term investors.
Understanding the Anthem Biosciences IPO
Anthem Biosciences, founded in 2006, is a technology-driven CRDMO that offers end-to-end services across drug discovery, development, and manufacturing. The company caters to a diverse global clientele, including emerging biotech startups and major pharmaceutical giants across 44 countries. Its IPO, which opened for subscription from July 14 to July 16, 2025, aimed to raise ₹3,395 crore through an Offer for Sale (OFS) of 5.96 crore equity shares. Notably, as this is entirely an OFS, Anthem Biosciences will not receive any proceeds from the offering, with all funds directed to the selling shareholders after deducting offer-related expenses.
The IPO was priced in the band of ₹540 to ₹570 per share, with a minimum lot size of 26 shares, requiring retail investors to invest a minimum of ₹14,040 at the upper price band. For small Non-Institutional Investors (sNII), the minimum application was 14 lots (364 shares), amounting to ₹207,480, while big Non-Institutional Investors (bNII) needed to bid for 68 lots (1,768 shares), totaling ₹1,007,760. Additionally, the IPO included a reservation of up to 158,654 shares for employees, offered at a ₹50 discount per share, making it an attractive proposition for company staff. The IPO was managed by JM Financial Limited, Citigroup Global Markets India, J.P. Morgan India, and Nomura Financial Advisory and Securities (India) Pvt Ltd, with KFin Technologies Limited serving as the registrar.
Subscription Status: A Testament to Investor Confidence
The Anthem Biosciences IPO witnessed overwhelming demand, closing with a subscription rate of 63.86 times. This robust response underscores the strong investor confidence in the company’s business model and growth prospects. The subscription breakdown by investor category highlights the significant interest across all segments:
- Qualified Institutional Buyers (QIBs): The QIB portion was subscribed an astonishing 182.65 times, reflecting strong institutional interest. This category was allocated 49.87% of the total shares, equivalent to 29,708,333 shares.
- Non-Institutional Investors (NIIs): The NII segment saw a subscription rate of 42.35 times, with 11,883,334 shares allocated, representing 19.95% of the offering.
- Retail Individual Investors (RIIs): Retail investors subscribed 5.64 times their allotted quota, with 8,912,500 shares (14.96%) reserved for this category.
- Employee Portion: The employee quota was subscribed 6.59 times, indicating strong participation from Anthem Biosciences’ workforce.
The IPO also raised ₹1,016 crore from anchor investors, with marquee names such as Abu Dhabi Investment Authority, Government Pension Fund Global, and PineBridge Global Funds acquiring shares through the anchor book. This high level of institutional participation further validates the company’s strong market positioning and growth potential.
Grey Market Premium (GMP): A Positive Outlook
The Grey Market Premium (GMP) for the Anthem Biosciences IPO has been a focal point for investors seeking insights into its potential listing performance. On the final day of subscription, July 16, 2025, the GMP stood at ₹160, a ₹4 increase from the previous day. Based on the upper price band of ₹570, this translates to an estimated listing price of ₹730, suggesting a potential listing gain of 28.07%. The GMP fluctuated during the bidding period, reaching a high of ₹158 on July 17 and a low of ₹67 on July 9, reflecting growing market enthusiasm as the IPO progressed.
However, investors should exercise caution when interpreting GMP figures. The grey market is an unregulated space, and GMP is not an official indicator of listing performance. While it provides a speculative gauge of market sentiment, investment decisions should also consider the company’s fundamentals, industry trends, and individual risk appetite.
Financial Performance: A Strong Foundation for Growth
Anthem Biosciences has demonstrated robust financial growth, positioning itself as a leader in the CRDMO space. In the financial year ending March 31, 2025, the company reported a 30% year-on-year (YoY) increase in revenue, reaching ₹1,930.29 crore, up from ₹1,483.07 crore in FY24. Profit After Tax (PAT) grew by 23% YoY, rising to ₹451.26 crore from ₹367.31 crore in the previous year. The company’s EBITDA margin stood at an impressive 36.8%, reflecting strong operational efficiency.
With a market capitalization of ₹31,867 crore at the upper price band, Anthem Biosciences’ Price-to-Earnings (P/E) ratio is approximately 70.9x based on FY25 earnings, which is considered reasonable compared to its peers in the CRDMO sector. The company’s strong financial metrics, coupled with its focus on innovation in areas such as probiotics, biosimilars, and advanced therapeutics, make it an attractive investment opportunity. Anthem Biosciences has also maintained healthy margins and a robust pipeline of over 240 active projects, further enhancing its growth prospects.
Checking Anthem Biosciences IPO Allotment Status
With the allotment finalized on July 17, 2025, investors can check their status through multiple platforms, including the websites of KFin Technologies, BSE, and NSE. Below is a step-by-step guide to checking the allotment status:
On KFin Technologies Website
- Visit the KFin Technologies IPO status page at https://kosmic.kfintech.com/ipostatus/.
- Select “Anthem Biosciences Limited” from the dropdown menu.
- Choose your preferred method to search: Application Number, Demat Account Number, or PAN.
- Enter the required details (e.g., PAN, application number, or DP/Client ID).
- Complete the captcha and click “Submit” to view your allotment status.
On BSE Website
- Go to the BSE allotment status page at https://www.bseindia.com/investors/appli_check.aspx.
- Under “Issue Type,” select “Equity.”
- From the “Issue Name” dropdown, choose “Anthem Biosciences Limited.”
- Enter your application number and PAN details.
- Click “Search” to view your allotment status.
On NSE Website
- Visit the NSE allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.
- Select “Equity & SME IPO bid details.”
- Choose “Anthem Biosciences Limited” from the dropdown menu.
- Enter your PAN, application number, or Demat account number.
- Click “Submit” to view your allotment status.
Investors who applied through their brokers can also check the allotment status via their broker’s website or app. For those who do not receive an allotment, refunds will be initiated by July 18, 2025, while allotted shares will be credited to demat accounts on the same day.
Listing Date and Market Expectations
The Anthem Biosciences IPO is set to list on both the BSE and NSE on July 21, 2025, at 10:00 AM. Given the strong subscription numbers and GMP trends, analysts are optimistic about its listing performance. The estimated listing price of ₹730, driven by the GMP of ₹160, suggests a potential gain of 28.07% over the upper price band of ₹570. This premium reflects the market’s confidence in Anthem Biosciences’ growth trajectory and its position in the high-growth CRDMO sector.
Brokerages such as SBI Securities and Anand Rathi have recommended subscribing to the IPO, citing the company’s leadership in the CRDMO industry, its integrated capabilities in New Chemical Entities (NCE) and New Biological Entities (NBE), and its strong financial track record. The company’s focus on advanced modalities like Antibody-Drug Conjugates (ADC), RNA interference (RNAi), and green chemistry further enhances its appeal to investors seeking exposure to innovative pharmaceutical solutions.
Why Invest in Anthem Biosciences?
Anthem Biosciences stands out as a compelling investment opportunity for several reasons:
- Industry Leadership: As one of the few Indian CRDMOs with integrated capabilities across small and large molecules, Anthem Biosciences serves a diverse global clientele, including over 550 clients across 44 countries. Its long-standing relationships with both emerging biotech firms and multinational pharmaceutical companies underscore its market credibility.
- Strong Financial Performance: The company’s 30% revenue growth and 23% PAT growth from FY24 to FY25, coupled with a healthy EBITDA margin of 36.8%, reflect its operational efficiency and profitability. These metrics position Anthem Biosciences as a leader in the CRDMO space.
- Innovation-Driven Model: Anthem Biosciences has a track record of over 8,000 projects and a robust pipeline of 242 active projects. Its early adoption of advanced technologies such as flow chemistry, solid-phase peptide synthesis, and biosimilars sets it apart from competitors.
- Promoter Confidence: The promoter-founder retains over 52% stake post-IPO, signaling strong confidence in the company’s long-term growth. This is particularly significant given that the IPO is entirely an OFS, with no dilution of promoter holding.
- Global Reach and Diversified Revenue: With 76.75% of its revenue coming from its top 10 customers and significant contributions from regulated markets like the US, Europe, and Japan, Anthem Biosciences has a stable and diversified revenue stream. Its ability to serve both small biotech startups and large pharmaceutical firms enhances its resilience to market fluctuations.
- Expansion Plans: The company plans to invest in a greenfield facility under its subsidiary, Neoanthem, which is expected to commence operations before the third quarter of FY2025. This expansion will further strengthen its manufacturing capabilities and market position.
Risks to Consider
While Anthem Biosciences presents a strong investment case, potential investors should also consider the following risks:
- Dependence on Key Clients: The company derives 76.75% of its revenue from its top 10 customers, making it vulnerable to any loss of business from these clients.
- Regulatory Risks: Non-compliance with regulatory standards could disrupt exports, approvals, and customer confidence, impacting the company’s operations.
- Underutilized Capacity: Poor demand forecasts or underused manufacturing capacity could affect future financial performance.
- Market Volatility: The IPO’s high P/E ratio of 70.9x may deter some investors, particularly in a volatile market environment. Additionally, the GMP’s speculative nature means listing gains are not guaranteed.
Investors should carefully evaluate these risks alongside the company’s strengths and consult certified financial advisors before making investment decisions.
Steps to Maximize Your Investment Potential
To make the most of the Anthem Biosciences IPO, consider the following tips:
- Check Allotment Promptly: Ensure you verify your allotment status as soon as it is available on July 17, 2025, using the KFin Technologies, BSE, or NSE platforms. This will help you plan your next steps, whether it’s preparing for listing or managing refunds.
- Monitor GMP Trends: While GMP is not a definitive indicator, tracking its movement can provide insights into market sentiment. Stay updated on GMP figures through reliable sources like investorgain.com or ipowatch.in.
- Evaluate Long-Term Potential: Given Anthem Biosciences’ strong financials and industry positioning, this IPO is particularly attractive for long-term investors. Focus on the company’s fundamentals, such as its revenue growth, profitability, and innovation pipeline, rather than short-term listing gains.
- Diversify Your Portfolio: While the Anthem Biosciences IPO offers significant potential, avoid over-allocating funds to a single investment. Diversify your portfolio to mitigate risks associated with market volatility.
- Stay Informed: Keep abreast of market developments and company announcements, particularly regarding Anthem Biosciences’ expansion plans and financial performance. Subscribing to financial news platforms or following updates on BSE and NSE websites can help you stay informed.
Anthem Biosciences IPO 2025 – Key Details at a Glance
| Section | Details |
|---|---|
| Company Name | Anthem Biosciences Limited |
| Founded | 2006 |
| Headquarters | Bengaluru, India |
| Sector | Pharma & Biotechnology (CRDMO – Contract Research, Development, and Manufacturing Organization) |
| IPO Type | 100% Offer for Sale (OFS) – No fresh issue |
| IPO Issue Size | ₹3,395 crore (5.96 crore equity shares) |
| IPO Price Band | ₹540 – ₹570 per share |
| Minimum Lot Size | 26 shares |
| Retail Investment (Min) | ₹14,040 at upper band |
| Employee Discount | ₹50 per share |
| IPO Subscription Dates | July 14 – July 16, 2025 |
| IPO Allotment Date | July 17, 2025 |
| Listing Date | July 21, 2025 |
| Listing Exchanges | NSE & BSE |
| Registrar | KFin Technologies Limited |
| Lead Managers | JM Financial, Citigroup, J.P. Morgan, Nomura |
| Anchor Investors Raised | ₹1,016 crore |
| Top Anchor Investors | Abu Dhabi Investment Authority, Government Pension Fund Global, PineBridge Global Funds |
| GMP (Grey Market Premium) | ₹160 (as of July 16, 2025) |
| Expected Listing Price | ₹730 (28.07% potential gain) |
| Subscription Stats | Overall: 63.86×QIB: 182.65×NII: 42.35×Retail: 5.64×Employees: 6.59× |
| Revenue (FY25) | ₹1,930.29 crore (30% YoY growth) |
| PAT (FY25) | ₹451.26 crore (23% YoY growth) |
| EBITDA Margin | 36.8% |
| P/E Ratio (FY25) | 70.9x at upper band |
| Active Projects | 242+ |
| Clients | 550+ clients across 44 countries |
| Revenue from Top 10 Clients | 76.75% |
| Post-IPO Promoter Holding | 52.02% (no dilution from OFS) |
| Expansion | New greenfield facility under Neoanthem (Q3 FY2025 launch) |
| Innovation Focus | ADCs, RNAi, biosimilars, flow chemistry, green chemistry |
| How to Check Allotment | Via KFinTech, BSE, NSE – Step-by-step [Guide Included Above] |
| Why It’s Attractive | Strong financials, high institutional interest, global CRDMO leadership, scalable business model |
| Risks to Watch | Heavy reliance on top clients, high P/E valuation, regulatory exposure |
Want to Know If You Got Allotted?
Click the links below to check your IPO allotment status:
Conclusion
The Anthem Biosciences IPO has captured the attention of investors with its impressive subscription rate, strong GMP, and robust financial performance. As a leading CRDMO with a global footprint and a focus on innovation, Anthem Biosciences is well-positioned to capitalize on the growing demand for contract research and manufacturing services in the pharmaceutical and biotechnology sectors. The IPO’s allotment, finalized on July 17, 2025, marks a critical milestone for investors, with shares set to list on July 21, 2025, at an estimated price of ₹730, offering a potential gain of 28.07%.
By following the steps outlined in this guide, investors can easily check their allotment status and make informed decisions about their investment. While the IPO’s strong fundamentals and market enthusiasm make it an attractive opportunity, investors should carefully consider the associated risks and consult financial advisors before investing. With its leadership in the CRDMO space, diversified client base, and ambitious expansion plans, Anthem Biosciences is poised for sustained growth, making it a compelling addition to a long-term investment portfolio.
Frequently Asked Questions (FAQ) – Anthem Biosciences IPO 2025
What Is the Anthem Biosciences IPO All About?
The Anthem Biosciences IPO is a ₹3,395 crore public offering through a complete Offer for Sale (OFS). Anthem, a global CRDMO based in Bengaluru, offers drug development and manufacturing services to over 550 clients across 44 countries. The IPO opened on July 14, 2025, closed on July 16, 2025, allotment was finalized on July 17, and listing is scheduled for July 21.
How Can I Check My Anthem Biosciences IPO Allotment Status?
You can check your IPO allotment status through the following platforms:
- KFin Technologies: https://kosmic.kfintech.com/ipostatus
- BSE India: https://www.bseindia.com/investors/appli_check.aspx
- NSE India: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
You will need your PAN, Application Number, or DP Client ID to check the status.
What Was the Subscription Status for the Anthem IPO?
The Anthem IPO was oversubscribed 63.86 times overall. The breakdown is as follows:
- Qualified Institutional Buyers (QIB): 182.65 times
- Non-Institutional Investors (NII): 42.35 times
- Retail Individual Investors: 5.64 times
- Employees: 6.59 times
This reflects strong demand from all investor categories.
What Is the Anthem Biosciences IPO Price Band and Lot Size?
- Price Band: ₹540 to ₹570 per share
- Lot Size: 26 shares per lot
- Minimum Investment for Retail Investors: ₹14,040 (at the upper price band)
A discount of ₹50 per share was offered to eligible employees.
What Is the Grey Market Premium (GMP) of Anthem Biosciences IPO?
As of July 16, 2025, the grey market premium (GMP) stood at ₹160. This indicates an expected listing price of around ₹730, representing an estimated gain of over 28 percent on the upper band price. However, GMP is unofficial and not a guarantee of listing price.
What Are the Key Financial Highlights of Anthem Biosciences?
- Revenue (FY25): ₹1,930.29 crore (up 30% year-over-year)
- Profit After Tax (PAT): ₹451.26 crore (up 23% year-over-year)
- EBITDA Margin: 36.8%
- Price to Earnings (P/E) Ratio: 70.9x
- Post-IPO Market Capitalization: ₹31,867 crore
These figures reflect Anthem’s strong financial position and growth trajectory.
Who Are Anthem’s Clients and Where Does It Operate?
Anthem Biosciences has over 550 clients in 44 countries, including leading pharmaceutical and biotechnology companies. About 76.75% of the company’s revenue comes from its top 10 clients. Anthem’s major markets include the United States, Europe, and Japan.
What Sets Anthem Biosciences Apart in the CRDMO Industry?
Anthem’s key differentiators include:
- Full-spectrum services for both small and large molecule drug development
- Over 240 active client projects
- Focus on innovation in biosimilars, ADCs, green chemistry, and RNA-based therapies
- State-of-the-art solid-phase peptide synthesis
- Expansion through its new greenfield project, Neoanthem
These capabilities make Anthem a leading player in global contract research and manufacturing.
When Will Anthem Biosciences IPO List on the Stock Market?
The IPO is scheduled to list on July 21, 2025, on both the BSE and NSE. The listing is expected to take place around 10:00 AM. Based on the GMP trends, a strong debut is anticipated.
Are There Any Risks Associated With Investing in Anthem Biosciences?
Yes, potential risks include:
- Dependence on top clients for a majority of revenue
- Exposure to international regulatory and compliance standards
- High valuation with a P/E of 70.9x
- Uncertainty of GMP-based listing premiums
Investors should consider these factors before making long-term commitments.
Is the Anthem Biosciences IPO Suitable for Long-Term Investment?
Anthem’s consistent financial growth, robust margins, global clientele, and strong R&D capabilities make it a promising long-term investment. For investors seeking exposure to India’s expanding biopharmaceutical and contract manufacturing sectors, Anthem offers a compelling opportunity.