Anthem Biosciences IPO: The IPO of Anthem Biosciences has subscribed to 1.15 times the second day of its subscription on 15 July. According to NSE data, by 11 am, the company received bids for 5.08 crore shares against the offer of 4.40 crore shares. Non-institutional investors subscribed to this IPO 2.82 times, while the quota of retail investors was 89 percent subscribed. The share of qualified institutional buyers (QIBS) is subscribed to 38 percent. Let us know that the company had already raised ₹ 1,016 crore from anchor investors.
Complete information about IPO
Bangalore -based company’s ₹ 3,395 crore IPO will be closed on 16 July. Its price band ₹ 540-570 per share has been fixed. Its minimum lot size is of 26 shares. Investors will have to apply in a minimum of 26 shares or its multiples. Retail investors will require a minimum capital of ₹ 14,040 to apply for this IPO. The company’s shares will be allotted on July 17, while its listing will be on NSE and BSE on July 21.
Should you apply?
Aditya Birla Mani has given a ‘subscribe’ rating to the IPO of Anthem Biosciences. He said, “Anthem’s customer profile and molecule pipeline shows demand in the long term, which gives more strength to the company’s expansion.” Anand Rathi Share and Stock Broking reported that Anthem ‘company provides services in CRO and CRDMO segment. It is an important player in pharma and biotechnology industries. The brokerage firm said that the company has done better than its competitors in earning profit and is likely to maintain this edge. He has given it a ‘subscribe’ rating. SBI Securities has also given it a ‘subscribe’ rating.
How much is the latest gray market premium (GMP)?
According to IPO market experts, the unlisted shares of Anthem Biosynes Limited are currently trading at ₹ 670 against their IPO’s upper price ₹ 570. This means that its GMP is currently ₹ 100, which is 17.54% higher than its issue price. This gray market premium is indicating a strong listing.
Disclaimer: The ideas and investment advice given by experts/brokerage firms on Moneycontrol are their own, not the website and its management. Moneycontrol advises users to consult a certified expert before making any investment decision.