Anthem Biosciences Limited is launching its ₹3,395 crore Offer For Sale (OFS) IPO on July 14, 2025.

The price band is set at ₹540–₹570 per share, with a lot size of 26 shares, and the IPO will list on BSE and NSE on July 21, 2025.

Important Note: This IPO is 100% OFS—no fresh issue proceeds will go to the company.

Company Overview

✅ Business: Innovation-driven Contract Research, Development and Manufacturing Organization (CRDMO), offering services across the drug discovery, development, and manufacturing cycle for small molecules and biologics.

✅ Established: 2006.

✅ Focus: Specialised fermentation-based APIs including probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.

✅ Customers: Over 550 customers globally, including big pharma and emerging biotech companies across 44+ countries (US, Europe, Japan, etc.).

✅ Innovation: Holds 1 Indian patent, 7 overseas patents, and 24 pending global patent applications (as of Sept 2024).

✅ Employees: ~600 skilled professionals, including chemists, biologists, engineers.

✅ Project Pipeline (as of Sept 2024):

• 196 active projects:

  • 170 discovery

  • 132 early phase

  • 16 late phase

  • 13 commercial manufacturing

Competitive Strengths

⭐ India's fastest-growing fully integrated CRDMO with "one-stop" drug life-cycle services.
⭐ Innovation-led model with advanced tech for small molecules and biologics.
⭐ Deep relationships with diverse, loyal customer base globally.
⭐ Proven track record in scaling discovery to manufacturing.
⭐ Experienced leadership and highly qualified scientific talent pool.

Anthem Biosciences IPO Details

Lot Size & Investment

Reservation Details

IPO Timeline (Tentative)

Promoter Shareholding

✅ Promoters: Ajay Bhardwaj, Ganesh Sambasivam, K. Ravindra Chandrappa, Ishaan Bhardwaj.

Financial Highlights

✅ Revenue Growth FY24–FY25: ~30%
✅ PAT Growth FY24–FY25: ~23%

Key Performance Indicators (as of March 31, 2025)

• ROE: 20.82%

• ROCE: 26.88%

• Debt/Equity: 0.05 (very low)

• RoNW: 20.82%

• PAT Margin: 23.38%

• EBITDA Margin: 36.81%

• Price to Book: ~13.23

• EPS (₹): 8.07

• P/E: ~70.62x (both pre/post IPO)

Objects of the Issue

• Entirely an Offer For Sale.

• No fresh capital for Anthem Biosciences.

• All proceeds go to selling shareholders (after expenses and taxes).

SWOT Summary

✅ Strengths

• Fully integrated CRDMO with end-to-end drug lifecycle services.

• Global diversified client base across biotech and pharma.

• Strong IP portfolio and innovation-driven business model.

• Healthy financial growth, low leverage.

⚠️ Weaknesses

• 100% OFS means no funds to company.

• High P/E (~70x) may limit upside.

✅ Opportunities

• Growing global demand for outsourced R&D and manufacturing.

• India’s cost advantage in biotech.

⚠️ Threats

• Regulatory risks in pharma.

• Global competition in CRDMO space.

Analyst View

⭐ Premium valuation (~70x P/E) reflects its strong growth, margins, and unique position in India's CRDMO sector.

✅ Serious investors may consider it for long-term exposure to India's booming outsourced pharma R&D market, but must be cautious of high price and 100% OFS.

✅ Short-term listing gains may depend on market sentiment.

Final Recommendation

✅ Short-term View: Cautiously Positive to Neutral (premium pricing, large OFS).
✅ Medium-to-Long Term: Positive (strong sectoral tailwinds, global CRDMO demand).
✅ Strategy: Apply if comfortable with premium valuation and long-term horizon.

How to Apply and Check Allotment

✅ Apply:

• ASBA via net banking.

• UPI via broker apps (mandate before 5 PM, July 16).

✅ Check Allotment (from July 17):

• Kfin Technologies website.

• Enter PAN/Application/DPID details.

  Disclaimer:

  This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

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  The Upcoming IPOs in this week and coming weeks are NSDL, Anthem Biosciences, Spunweb Nonwoven, Smartworks Coworking, Asston Pharmaceuticals.

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  The Current active IPO are CFF Fluid Control, Anthem Biosciences, Glen Industries, Smarten Power Systems, Travel Food Services, Chemkart India.

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