The initial public offer of Anthem Biosciences Ltd subscribed 63.86 times on the closing day of bidding on Wednesday, driven by overwhelming participation from institutional buyers.
The initial share sale received bids for 2,81,44,34,740 shares against 4,40,70,682 shares on offer, according to NSE data.
The portion for qualified institutional buyers (QIBs) fetched a whopping 182.65 times subscription. The non-institutional investors part got subscribed 42.35 times, and retail individual investors (RIIs) received a 5.64 times subscription.
Anthem Biosciences has raised Rs 1,016 crore from anchor investors.
The Bengaluru-based firm has fixed the price band for its ₹3,395-crore IPO at ₹540-570 per share.
Since the IPO is entirely an offer-for-sale (OFS), the company will not receive any funds from the issue, and the proceeds will go to the selling shareholders.
Anthem is an innovation-driven and technology-focused contract research, development and manufacturing organisation (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, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India) are the book-running lead managers for the issue
