Anthem Biosciences IPO GMP surged on Wednesday as the Rs 3,395-crore initial share sale saw robust subscription on the concluding day of the public issue. The strong investor interest was seen on the back of the company's growth prospects as global big pharma turns to India to limit its reliance on supplies from China.
The issue which began on July 14 in the primary market on a price band of Rs 540-570 got fully subscribed on the day two of bidding on Tuesday.
The recovery in IPO market follows a surge in the secondary market over the last four months, with benchmark indexes inching closer to their record highs.
Anthem Biosciences IPO received bids for over 281 crore shares against 4.40 crore shares on offer, translating into 63.86 times subscription.
The category for non-institutional investors fetched 42.35 times subscription while the quota for retail individual investors (RIIs) got subscribed 5.64 times. Qualified institutional buyers (QIBs) part received 182.65 times subscription. Earlier, it raised Rs 1,016 crore from anchor investors.
Anthem Biosciences IPO GMP Today Price
According to websites tracking the grey market activities, the shares of Anthem Biosciences are commanding a GMP of about 27 percent in the unregulated market. Investorgain quoted a GMP of Rs 153 for the shares of the company, indicating a listing gain of 26.84 percent.
Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organization (CRDMO) with fully integrated operations spanning across drug discovery, development and manufacturing. It also manufactures and sells complex, specialised fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics, enzymes, peptides, nutritional actives, vitamin analogues and biosimilars.
JM Financial is the advisor to the issue.
Shares of the company will be listed on both NSE and BSE on July 21, while the allotment is expected on July 17.
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