Anthem Biosciences IPO Listing: Will the Shares See a Strong Market Debut? Check Latest GMP

Anthem Biosciences is all set to debut on the Indian stock exchanges on Monday, July 21, following a highly successful IPO that drew robust demand across investor categories. The market is closely watching the stock's listing performance, with early indicators suggesting a strong debut.

IPO Receives Strong Subscription Across Segments

The IPO of Anthem Biosciences was open for subscription from July 14 to July 16, and witnessed a phenomenal response, getting subscribed 67.42 times in total.

• The retail investor portion was subscribed 5.98 times

• The non-institutional investor (NII) category received 44.70 times subscription

• The qualified institutional buyer (QIB) category saw the highest demand, with 192.80 times subscription

This overwhelming interest highlights the company’s appeal among both retail and institutional investors.

Grey Market Premium Signals Upbeat Sentiment

One of the key metrics investors watch before a stock's debut is the Grey Market Premium (GMP). As of July 20, the GMP for Anthem Biosciences stood at ₹177 per share.

Given the issue price of ₹570, the estimated listing price is likely to be around ₹747, translating into an expected listing gain of approximately 31%.

According to market analysts, a rising GMP trend usually reflects strong investor interest and positive sentiment about the company’s fundamentals and future performance.

Company Overview: A Leading Player in CRDMO

Anthem Biosciences, based in Bengaluru, operates as a Contract Research, Development, and Manufacturing Organization (CRDMO). It partners with global pharmaceutical and biotech companies, providing integrated services across the drug development cycle.

Key Facts:

• Completed over 8,000 projects

• Currently handling 242 active assignments

• Serving a global clientele of 675+ clients

• Expanding into high-potential segments like ADC (Antibody-Drug Conjugates), RNA interference (RNAi), and flow chemistry

Anthem’s end-to-end capabilities across small and large molecule platforms make it one of India’s most diversified CRDMO players.

Analyst Views: Strong Position in a High-Growth Industry

Rajan Shinde, Research Analyst at Mehta Equities Ltd, noted that Anthem Biosciences stands out due to its focus on innovation, leadership in green chemistry, and presence in the high-growth CRDMO space.

He also pointed out the value of Anthem’s client base, many of whom are emerging biotech companies that are later acquired by large pharmaceutical firms—highlighting Anthem's long-term contribution to the global pharma value chain.

Financial Performance: Resilient and Growing

Revenue:

• FY24: 34.3% growth

• FY25: 30% growth

Profit:

• FY24: Profit dipped by 4.6%

• FY25: Rebounded with a 22.9% increase

These figures reflect strong operational efficiency and rising demand for Anthem’s services.

Valuation: Premium, But Justified

The IPO price band pegs Anthem’s market capitalization at approximately ₹31,867 crore. Based on FY25 earnings, this results in a P/E ratio of 70.

While this may appear on the higher side, analysts argue that listed peers in the CRDMO segment trade at 80–90 times earnings, making Anthem’s valuation relatively reasonable given its growth potential and operational strengths.

Final Verdict: A Solid Long-Term Bet

With its strong order book, client diversity, innovation pipeline, and adherence to compliance standards, Anthem Biosciences is viewed as a robust player in India’s pharma outsourcing ecosystem.

Analysts believe that the company’s automated manufacturing, green chemistry focus, and expanding global presence give it long-term upside potential. As a result, Mehta Equities has recommended a ‘Subscribe’ rating for long-term investors.

Conclusion

All signs point toward a strong market debut for Anthem Biosciences on July 21. A solid GMP, strong IPO subscription numbers, and healthy financials back this outlook. While the valuation may seem rich, the company’s positioning in a booming industry justifies the premium.