Anthem Biosciences' ₹3,395 cr IPO to hit D-Street on July 14; price band at ₹540-570

Bengaluru-based Anthem Biosciences, a contract research, development, and manufacturing organisation (CRDMO), has announced the price band for its upcoming initial public offering (IPO), which is scheduled to open on July 14. Backed by private equity firm True North, the company aims to raise ₹3,395 crore through the IPO route at a price band of ₹540–570 per share.

The Anthem Biosciences IPO is entirely an offer for sale (OFS) by existing shareholders, meaning no fresh capital will be infused into the company. The anchor book will open for a day on July 11, while the three-day IPO will close on July 16. The share allotment is expected to be finalised on July 17, and the stock is likely to be listed on the BSE and the NSE on July 21, 2025.

Under the OFS, promoters Ganesh Sambasivam and K. Ravindra Chandrappa will each divest shares worth ₹350 crore. The largest chunk will come from Viridity Tone LLP, backed by private equity firm True North, which holds a 7.93% stake in the company and plans to sell shares worth ₹1,325 crore. Additionally, Portsmouth Technologies, along with other shareholders—Malay J. Barua, Rupesh N. Kinekar, and Satish Sharma—will be paring stakes worth ₹320 crore.

Founded in 2006, Anthem Biosciences is a technology-led and innovation-focussed 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.

Anthem is known for its expertise in fermentation-based active pharmaceutical ingredients (APIs), manufacturing products such as probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.

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.

All facilities adhere to current Good Manufacturing Practices (cGMP) and are accredited by prominent international regulatory authorities, including the U.S. FDA, ANVISA (Brazil), TGA (Australia), and PMDA (Japan).

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. 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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