Anthem Bio makes great debut

Anthem Biosciences has made a fantastic debut; as against the IPO price of Rs.570, the stock was listed on the BSE at Rs.723.10 and rose to an intraday high at Rs.746.70 and is currently trading at Rs.727 levels.

The IPO had received a great response, overall subscribing 63,86x with QIB portion at 182.65x, HNIs at 42.36x and retail portion was smaller at 5.64x.

Anthem Biosciences is a Contract Research, Development and Manufacturing Organization (CRDMO) with integrated capabilities for both New Chemical Entity (NCE) and New Biological Entity (NBE). This intersection of chemistry and biology is not common, with only a few players like Syngene, Aragen Life, Biocon Biologics having complex NBE capabilities, lacking in some of the listed CRDMOs like Innova Captab, Windlass, Suven.  

Our IPO Analysis conclusion - Anthem Biosciences has strong fundamentals with a promising outlook. We recommend ‘applying’ in the IPO.