Anthem Biosciences IPO Subscribed 73% on Day 1

New Delhi, Jul 14 (PTI) The initial public offer of Anthem Biosciences Ltd got subscribed 73 per cent on the first day of share sale on Monday.

The initial share sale received bids for 3,21,13,406 shares against 4,40,70,682 shares on offer, according to NSE data.

Non-institutional Investors category garnered 1.55 times subscription, while the quota for Retail Individual Investors (RIIs) got subscribed 58 per cent. The portion for Qualified Institutional Buyers (QIBs) received 37 per cent subscription.

Anthem Biosciences has raised Rs 1,016 crore from anchor investors.

The Rs 3,395-crore IPO of the Bengaluru-based firm will close on July 16. The price band has been fixed at Rs 540-570 per share.

Since the IPO is entirely an offer-for-sale (OFS), the company will not receive any funds from the issue, and the proceeds will go to the selling shareholders.

Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organization (CRDMO) with fully integrated operations spanning across drug discovery, development and manufacturing.

It also manufactures and sells complex, specialised fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics, enzymes, peptides, nutritional actives, vitamin analogues and biosimilars.

JM Financial, Citigroup Global Markets India, J P Morgan India, and Nomura Financial Advisory and Securities (India) are the book-running lead managers for the issue.