Anthem Biosciences IPO Subscribed 3.48 Times by Day 2, NII Category Sees Overwhelming Response

Mumbai, 15 July 2025: Anthem Biosciences Limited’s Initial Public Offering (IPO) continues to draw strong investor interest, clocking an overall subscription of 3.48 times by the end of Day 2. The IPO, which opened for subscription on July 14, 2025, will remain open until July 16, 2025.

Non-Institutional Investors Lead with 10.26 Times Subscription

A notable highlight of the ongoing IPO is the extraordinary response from Non-Institutional Investors (NII), who subscribed their quota 10.26 times. The segment was further divided into two categories—bNII (bids above ₹10 lakh) and sNII (bids below ₹10 lakh)—which recorded subscription levels of 10.42 times and 9.93 times, respectively. This high level of interest from high-net-worth individuals and other non-institutional participants suggests strong confidence in the company’s business model and growth outlook.

Retail Investor Segment Sees Steady Participation

Retail investors also showed a positive response to the offering, subscribing to 2.21 times their allotted quota by July 15. With over 14 lakh applications received, the public participation in the IPO appears widespread and enthusiastic, reflecting retail confidence in Anthem Biosciences’ performance and prospects.

QIB Response Remains Muted as of Day 2

While the retail and NII categories have demonstrated robust interest, the response from Qualified Institutional Buyers (QIBs) has been moderate. By the end of Day 2, the QIB portion was subscribed 0.62 times, indicating that institutional activity may pick up momentum closer to the IPO’s closing date. Anchor investors, who were allotted shares ahead of the opening, subscribed to their quota fully at 1 time.

₹3,395 Crore IPO Backed by Strong Fundamentals and Global Reach

Anthem Biosciences’ ₹3,395 crore IPO is entirely an Offer for Sale (OFS) comprising 5.96 crore equity shares. The issue is priced in a band of ₹540 to ₹570 per share, with a minimum application size of 26 shares, translating to a retail investment of ₹14,040. For non-institutional investors, the minimum lot size ranges from 364 shares (sNII) to 1,768 shares (bNII), requiring investments of ₹2,07,480 and ₹10,07,760, respectively.

The company has also reserved 1,58,654 equity shares for eligible employees at a discount of ₹50 per share. The employee category has seen a 2.74 times subscription so far, reflecting internal belief in the company’s value proposition.

Allotment and Listing Timelines Confirmed

The allotment of shares is expected to be finalised on Thursday, July 17, 2025. Anthem Biosciences is set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with a tentative listing date of Monday, July 21, 2025.

Strategic Focus on Innovation, APIs, and CRDMO Services

Anthem Biosciences Limited positions itself as a fully integrated Contract Research, Development, and Manufacturing Organization (CRDMO). The company specialises in fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics, peptides, enzymes, biosimilars, and vitamin analogues. Its global client base includes innovative biotech startups as well as large multinational pharmaceutical firms.

For the six months ending September 30, 2024, the company supported ten commercial molecules from their discovery phase through manufacturing, showcasing its R&D-driven business model and operational maturity.

Book-Running Lead Manager and Registrar

JM Financial Limited serves as the book-running lead manager for the IPO, while Kfin Technologies Limited is the registrar for the issue. The IPO is structured as a book-building offer with shares having a face value of ₹2 each.

With participation from NIIs and retail investors, Anthem Biosciences’ IPO has created substantial buzz in the market. The final day of subscription on July 16, 2025, will be closely watched, particularly for QIB activity, which may decide the final oversubscription figure.

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