Anthem Biosciences IPO Ignites Frenzy Ahead of Debut
Investors are buzzing about Anthem Biosciences IPO after its public issue closed with a record-breaking response. Set to list on July 21, 2025, this ₹3,395 crore IPO might seem like just another pharma listing, but both numbers and sentiment say otherwise. It’s not every day you see an IPO subscribed 67 times overall—especially one from a niche contract research and manufacturing player.
The real jaw-dropper came from the Qualified Institutional Buyers (QIBs), who lapped up Anthem shares at a staggering 192.8 times their allotted portion. Non-institutional investors were also keen, subscribing 44.7 times, while retail investors jumped in with nearly 6 times oversubscription. That kind of demand usually foreshadows a big debut—but is the excitement warranted, or is this just another case of IPO fever?
GMP Signals Big Debut Gain—But Can It Be Trusted?
The hype is reflected in the grey market premium (GMP), often seen as an unofficial indicator of listing price expectations. Anthem’s GMP has been climbing steadily in the run-up to its listing, reaching ₹177 per share by July 20. With the IPO price set at ₹570, the implied listing price could hit ₹747—a handsome 31% gain for lucky allottees, blowing past earlier predictions of a 25-29% gain as quoted in market circles just days before.
But here’s the catch: Grey market talk is notoriously fickle. It runs on rumor and herd behavior, not hard data. While GMP trends can give a hint of demand, they swing with the market mood, and prices can shift sharply between the close of the public issue and the listing day. Investors watching GMP numbers should keep their optimism in check and remember how fast sentiment can turn.
Another wrinkle is the structure of the IPO itself. Anthem’s offer is 100% offer-for-sale (OFS), meaning every rupee raised will go to existing shareholders, not the company’s war chest. That’s a red flag for investors hoping the IPO would fund new growth or R&D. Anthem isn’t short on experience, having completed 8,000 projects and worked with 675+ clients since 2006, mostly small to mid-sized biotech companies worldwide. But without new funds flowing in, post-listing expansion will have to ride on the company’s existing cash and business pipeline.
So why all the love from big-money QIBs? Anthem sits in a sweet spot—offering both small molecule (traditional chemical drugs) and large molecule (biologics) solutions. The integrated CRDSM (Contract Research, Development, and Manufacturing Services) model is getting hotter as pharma companies worldwide shave costs and search for nimble partners. Anthem’s ability to span research, development, and manufacturing makes it a go-to for biotech firms looking to scale up ideas fast.
Investors thinking about jumping in on listing day should look beyond the noise. While first-day pops make headlines, the long-term game here is Anthem’s ability to keep winning contracts and adapting as biotech trends shift. With no new capital from the IPO, execution and operational excellence matter more than ever. The IPO signals huge short-term demand—but the real test will come as Anthem faces post-listing scrutiny, market turbulence, and biotech’s ever-changing needs.