Anthem Biosciences is a prominent Indian Contract Research, Development & Manufacturing Organization (CRDMO). The firm has initiated its IPO today on July 14, 2025. The public subscription period for Anthem Biosciences IPO will be available until July 16, 2025. The allocation procedure is anticipated to be completed on Thursday, July 17, 2025. Anthem Biosciences IPO is set to be listed on BSE and NSE, with a provisional listing date scheduled for Monday, July 21, 2025.
This article provides a thorough analysis of the Anthem Biosciences IPO, examining its business activities and fundamental insights to assist you in making a knowledgeable investment decision.
Anthem Biosciences IPO Review
Anthem Biosciences Limited’s IPO provides investors access to India’s swiftly growing CRDMO and specialty ingredients market. Based in Bengaluru, Anthem offers comprehensive contract research, development, and manufacturing services, incorporating integrated NCE and NBE expertise. Its extensive platform encompasses modalities such as RNAi, ADCs, peptides, lipids, and oligonucleotides, backed by robust global client partnerships. In FY25, Anthem announced Rs. 1,844.55 crore in revenue with strong profitability, although its margins decreased a bit.
Anthem’s growth approach emphasizes increasing capacity, technological innovations, and an expanded range of specialty ingredients. Nevertheless, investors need to consider risks such as significant client concentration, regulatory obstacles, and difficulties in project execution prior to participating in the IPO.
The firm offers comprehensive CRDMO solutions to emerging biotech firms and major pharmaceutical companies with a focus on innovation worldwide. Its CRDMO platform encompasses five primary modalities, including RNA interference (RNAi), antibody-drug conjugates (ADC), peptides, lipids, and oligonucleotides. It possesses four production capabilities, including custom synthesis, flow chemistry, fermentation, and biotransformation. In addition to CRDMO services, Anthem Biosciences also produces and markets intricate, specialized fermentation-derived Active Pharmaceutical Ingredients (APIs), such as probiotics, enzymes, peptides, and others.
Pros and Cons of Anthem Biosciences IPO
Let’s explore the advantages and disadvantages to determine if the Anthem Biosciences IPO is beneficial or detrimental for investors.
Pros
Extensive All-in-One Service Proficiencies
Anthem Biosciences provides complete CRDMO services throughout the full drug life cycle, encompassing drug discovery, development, and production for both small molecules and biologics. It is among the limited Indian firms possessing integrated NCE and NBE capabilities.
Innovation-Oriented Strategy and Cutting-Edge Technologies
The organization emphasizes innovation, providing sophisticated technological solutions across various modalities (RNAi, ADC, peptides, lipids, oligonucleotides) and production methods (custom synthesis, flow chemistry, fermentation, biotransformation). It is a leader in eco-friendly chemistry methods in India.
Diverse Business Model
Anthem Biosciences serves small pharmaceutical firms and developing biotech companies, providing services ranging from discovery to commercial production. It primarily employs a Fee-For-Service (FFS) model, favored by these firms for its cost efficiency and clarity.
Established Customer Connections
The firm maintains enduring connections with a broad and varied client base, comprising major pharmaceutical firms and rising biotechs in more than 44 nations.
Diverse Specialty Ingredients Range
Anthem Biosciences offers an extensive range of niche specialty ingredients, including GLP-1, fermentation-derived products, probiotics, enzymes, nutritional actives, and vitamin variants, utilizing its significant fermentation capabilities.
Completely Established Automated Manufacturing Framework
The organization runs cGMP-compliant production sites featuring extensive automation and a reliable history of regulatory compliance, obtaining accreditations from USFDA, ANVISA, TGA, and PMDA.
Cons
Reliance on CRDMO Services Revenue
A substantial share of income (81.65% in FY25) originates from CRDMO services. Any negative effect on client businesses or sectors can significantly impact Anthem.
Failure in Development Projects
Failures in developmental projects can harm the business, particularly from setbacks in early-stage initiatives or challenges in producing commercially viable drugs, exemplified in FY23 by a Phase III molecule failure and the withdrawal of a marketed molecule.
Swift Technological Progress and Investment Needs
The sector requires ongoing funding in innovative technologies, and not evolving or adapting to these can affect competitiveness and service demand.
Comprehensive Government Regulations
Activities must adhere to strict local and global regulations. Inability to acquire, sustain, or refresh licenses and approvals can negatively impact business activities.
Customer Dependence
A large share of revenue originates from a small number of essential clients (the top 5 and top 10 customers accounted for 70.92% and 77.33% respectively in FY25), creating a risk if these connections are not upheld.
Significant Reliance on Talented Workforce
The company depends greatly on a talented workforce, especially its research and development team. Failure to attract or retain such staff can result in knowledge loss and negative business outcomes.
Anthem Biosciences GMP
As reported by Business Standard, the Grey Market Premium (GMP) for Anthem Biosciences Limited was ₹100 on July 14, 2025, at 8:20 a.m. This suggests that the projected listing price of the shares could be approximately ₹670, derived from the upper limit of the price band at ₹570. The anticipated profit per share is 17.5%.
Source: Business Standard Media Report dated July 14, 2025
Disclaimer: The GMP (Grey Market Premium) price is an unverified market-related update and lacks any solid foundation. The aforementioned is based on media reports and is provided solely for informational purposes. The investor must conduct their own analysis before relying on it to make any investment decision. We do not participate in, trade, or deal with the grey market, nor do we support or promote trading within the grey market.
Anthem Biosciences Initial Public Offering Information
Initial Public Offering Dates
Anthem Biosciences IPO will be available for subscription between July 14, 2025, and July 16, 2025. The distribution of shares to investors is set for July 17, 2025, and the company is anticipated to be listed on the NSE and BSE on July 21, 2025.
IPO Offering Price
Anthem Biosciences is pricing its shares between Rs 540 and Rs 570 each. This indicates that you would need an investment of Rs. 14,820 for each lot (26 shares) if you are placing a bid for the IPO at the maximum price band.
Initial Public Offering Size
Anthem Biosciences is making an offer to sell 5,95,61,404 shares, valued at Rs 3,395 crores.
IPO Allocation Status
Investors that submitted applications for the IPO can verify their allotment status on July 17, 2025, via the registrar’s website, KFin Technologies Limited, BSE, NSE, or through the stockbroker platform.
Date of IPO Listing
Anthem Biosciences’ shares will be available on the NSE and BSE starting July 21, 2025.
Disclaimer: This information is intended only for educational use. The investments/securities mentioned here are not suggestions.
