Last few hours left! Anthem Biosciences IPO closes today; Check GMP, IPO allotment and 3 must-know details – IPO News

It is the final countdown for Anthem Biosciences IPO. The issue was opened for subscription on July 14. As the three-day bidding window nears its close today, let’s take a look at the grey market trends, subscription so far, and key listing cues.

Anthem Biosciences IPO: GMP update

As the IPO has entered its final day of bidding, Anthem Biosciences shares are commanding a grey market premium (GMP) of around Rs 17 per share. Based on the IPO’s upper price band of Rs 570, this implies a speculative listing price of approximately Rs 726, a potential 27.37% gain.

However, it is also important to note that GMPs are unofficial. Moreover, it can change rapidly based on broader market sentiment.

Anthem Biosciences IPO: Subscription so far

As of the latest update, this mainboard IPO has been subscribed 3.48 times overall so far. Non-Institutional Investors (NIIs) portion received a subscription of 10.26 times their quota. Retail investors saw moderate interest with 2.21 times subscription, while Qualified Institutional Buyers (QIBs) lag behind at 0.62 times as of now.

Anthem Biosciences IPO: Allotment and listing timeline

Post closure of the bidding today, allotment of shares is expected to be finalised by Thursday, July 17. The shares are likely to list on Monday, July 21, on both the BSE and NSE.

JM Financial is acting as the book-running lead manager, while Kfin Technologies is handling the registrar responsibilities for the issue.

Anthem Biosciences IPO: IPO structure

Anthem Biosciences hit the market with a Rs 3,395 crore IPO, which is entirely an Offer for Sale (OFS). A total of 5.96 crore equity shares are being offloaded by promoters and early investors. Since it is a pure OFS, the company won’t receive any proceeds, the money will go to the selling shareholders.

Anthem Biosciences IPO: Company overview

Based in Bengaluru, Anthem Biosciences is a prominent Contract Research, Development, and Manufacturing Organization (CRDMO). It also offers a range of services for drug discovery, development, and commercial-scale production.

The company is also its dual capability in handling both New Chemical Entities (NCE) and New Biological Entities (NBE), it has a strong presence among Indian CRDMOs. Founded in 2006, it has a team of professionals spanning chemists, biologists, and engineers.