Shares of Anthem Biosciences, a contract research, development, and manufacturing organisation (CRDMO), made a strong debut on the domestic bourses on Monday, undermining weakness in the broader market. The stock listed at ₹723.05 on the National Stock Exchange (NSE), marking a 26.85% premium over its initial public offering (IPO) price of ₹570 per share. On the BSE, shares debuted at ₹723.10, up 26.86%, taking the company’s market capitalisation to ₹40,610 crore.

Meanwhile, the broader market traded in the green, with the Sensex rebounding by 285 points to cross 84,000 mark, and the Nifty reclaimed the 25,000 level. In the early trade, the BSE Sensex declined as much as 122 points to 81,635, and the NSE Nifty slipped 38 points to 24,964 level.

Ahead of its listing, Anthem Biosciences was commanding a strong grey market premium (GMP) of ₹179 in the unlisted market, suggesting a likely listing price of around ₹749, a 31.40% premium over its IPO price.

The ₹3,395-crore Anthem Biosciences IPO, which was entirely an offer-for-sale (OFS) of 5.96 crore equity shares, was subscribed 67.42 times. The public issue, which started between July 14-July 16, was subscribed 5.98 times in the retail category, while the non-institutional investors (NII) segment was booked 44.70 times. The qualified institutional buyers (QIBs) category received an overwhelming response, with the quota reserved for them booked 192.80 times.

Backed by private equity firm True North, the company offered shares at a price band of ₹540–570 per share.

Founded in 2006, Anthem Biosciences is a technology-led and innovation-focused CRDMO, offering end-to-end services across the drug discovery, development, and manufacturing value chain. The company serves a wide range of global clients, including emerging biotech firms and established pharmaceutical companies. The company currently operates three manufacturing units - Unit I located in Bommassandra, Unit II in Harohalli, and Unit III in Harohalli, which is under construction and slated for completion in the first half of FY26.

On the financial front, Anthem reported a net profit of ₹451.3 crore for the financial year ended March 2025, up 22.9% from ₹367.3 crore in the previous fiscal year. Revenue for FY25 stood at ₹1,844.6 crore, marking a 30% increase from ₹1,419.4 crore in FY24.

JM Financial Limited is the book-running lead manager of the Anthem Biosciences IPO, while Kfin Technologies Limited is the registrar for the issue.

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