Anthem Biosciences IPO: Contract research company Anthem Biosciences is preparing to launch an IPO. The company has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI). According to the report of news agency Reuters, this IPO is worth Rs 3395 crore ($397 million). There is no plan to issue any new shares under this issue, that is, existing shareholders will sell their stake in the company through the Offer for Sale (OFS) window. Will make it light.
Anthem Biosciences IPO details
Anthem Biosciences has filed the draft with SEBI for IPO. This IPO can be worth around Rs 3395 crore and it will be completely offer for sale. Moneycontrol had informed about four years ago in June 2020 that Anthem Biosciences was considering selling its holding at a valuation of $ 100 crore. Investment bank O3 capital was given the responsibility of finding a buyer. At that time, the company’s CEO Ajay Bhardwaj had said that the company has established itself as a researcher and manufacturer of chemistry-based small molecule therapy and fermentation-based biopharma. This is an area in which there are very few companies around the world.
Details about the company
Anthem Biosciences is a Contract Research, Development and Manufacturing Organization (CDMO). It discovers and prepares medicines. Its founder, CEO and MD is Ajay Bhardwaj who has worked as an executive in Biocon. This company was formed in the year 2006. Talking about its financial health, according to the details available on the company’s site, its standalone net profit fell by 2.82 percent on an annual basis to Rs 374.78 crore in FY 2024, but during this period, revenue jumped by 34.12 percent to Rs 1417.54 crore.