Anthem Biosciences’ ₹3,395 Cr IPO (fully OFS) opens July 14–16, priced ₹540–570. With ₹97 GMP (~17% expected jump), strong FY25 profit +22%, and global API capacity expansion, here’s the key outlook for subscribers.
📌 IPO Overview
- Opening Date: July 14–16, 2025
- Price Band: ₹540–₹570 per share
- Total Size: ₹3,395 Cr (100% Offer-for-Sale; no fresh funds to company) ICICI Direct+13Outlook Business+13The Economic Times+13Fortune India
- Anchor Book: Raised ₹1,016 Cr from 60 investors at ₹570 on July 11 Moneycontrol+2mint+2Fortune India+2
- Listing Date: Expected July 21 (allotment July 17) Fortune India+3Moneycontrol+3Moneycontrol+3
Key Insight: Existing shareholders are cashing out. No fresh capital for expansion, but the IPO signals investor confidence and market visibility.
💹 Grey Market Premium (GMP)
- Current GMP: ₹97 (17% gains over ₹570 upper band), with range between ₹0–107 historically Reddit+9mint+9Reddit+9
- What GMP Means: A high GMP suggests bullish listing expectations but carries risk—it’s an unofficial indicator based strictly on sentiment Fortune India+5mint+5Reddit+5
📈 Strong Fundamentals & Growth Story
- Revenue & Profit Growth: FY25 revenue surged 30% to ₹1,844 Cr; PAT rose ~23% to ₹451 Cr Moneycontrol+2Fortune India+2Amar Ujala Bonus+2
- High Margins: EBITDA margin hovers around 37%, signaling efficient operations Reddit+9Reddit+9Reddit+9
- Global Exposure: 80% of revenues from exports (US, EU, China). 550+ clients across 44 countries; top 5 contribute ~70% revenue ClearTax+4Business Standard+4Moneycontrol+4
- Production Capabilities: Three plants in Karnataka with Units 1–3 live; Unit 4 (30 acres) underway. Total CAPEX ~₹900 Cr The Week+4Business Standard+4ICICI Direct+4
⚠️ Risks to Consider
- Concentrated Client Base: ~70% revenue from top 5 clients implies dependency risk Moneycontrol
- Valuation Premium: Trading at P/E ~71×; comparable peers include Syngene (68×) Amar Ujala Bonus+1The Economic Times+1
- OFS Only: No fresh capital raised limits reinvestment flexibility
- Sector Risks: Biotech/CRDMO faces regulatory, patent, and market challenges; global economic volatility may impact demand The Week+5Fortune India+5ICICI Direct+5The Economic Times+10Moneycontrol+10Fortune India+10
✅ Should You Subscribe?
- Short-term traders: GMP suggests a potential 17% listing enhancement (~₹667). If you’re focused on listing gains, it could be an opportunity.
- Long-term investors: Strong topline growth, margin stability, and global capacity build are promising—if valuation is justifiable and client diversification improves.
🔍 FAQs
Q1. Why is GMP ₹97?
It’s pure market sentiment: high investor interest anticipates listing near ₹667 (₹570 + ₹97) Reuters+15mint+15Moneycontrol+15.
Q2. Does GMP mean guaranteed profits?
No. It’s unofficial and can be volatile—market conditions at listing matter more .
Q3. What’s OFS-only IPO?
All proceeds go to selling shareholders; the company doesn’t receive funds for expansion.
Q4. What’s the risk with client concentration?
Heavy reliance on top clients (~70% revenue) means losing one big client could impact performance The Economic Times+5Amar Ujala Bonus+5Outlook Business+5.
Q5. When will it list?
Allotment by July 17; expected listing on or around July 21 across NSE & BSE ICICI Direct+5ClearTax+5Moneycontrol+5.
⚠️ Disclaimer
This content is for informational purposes only. It does not constitute financial advice. GMP is unofficial and can be misleading—please consult a SEBI-registered advisor before investing.
🏁 Final Take
Anthem Biosciences offers an attractive short-term listing opportunity given the hefty 17% GMP. Fundamentally, its strong growth, profitability, and global expansion are commendable—but valuation is steep and client concentration remains a concern. For listing traders, the IPO holds intrigue. For long-term investors, a cautious and balanced approach is advisable.
