Anthem Biosciences Files DRHP for INR 3,395 Cr IPO

The Book Running Lead Managers for the IPO are JM Financial, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India). Anthem’s equity shares are proposed to be listed on the BSE  and NSE.

Bengaluru-based Anthem Biosciences, a Contract Research, Development, and Manufacturing Organization (CRDMO), has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth INR 3,395 Cr.

The IPO consists solely of an Offer for Sale (OFS) by the company's selling shareholders.

Incorporated in 2006, Anthem Biosciences operates two manufacturing facilities in Karnataka. The company’s business spans CRDMO services and the manufacture and sale of specialty ingredients. Anthem provides integrated services across the lifecycle of New Chemical Entities (NCEs) and New Biological Entities (NBEs), with expertise in RNAi, ADCs, peptides, lipids, and oligonucleotides.

It also offers advanced manufacturing techniques, including flow chemistry, enzymatic processes, biocatalysis, and fermentation.

Additionally, Anthem produces complex fermentation-based Active Pharmaceutical Ingredients (APIs), such as probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.

Key details

- INR 350 Cr each by Promoters Ganesh Sambasivam and K Ravindra Chandrappa.

- INR 1,325 Cr by Viridity Tone and INR 320 Cr by Portsmouth Technologies (Investor Selling Shareholders).

- INR 320 Cr each by Malay J Barua, Rupesh N Kinekar, and Satish Sharma; INR 80 Cr by Prakash Kariabettan; and INR 10 Cr by K Ramakrishnan (Other Selling Shareholders).

Financial Performance

- Revenue from operations rose by 34.3% to INR 1,419 Cr in FY24, compared to INR 1,056 Cr in FY23.

- Profit After Tax (PAT) for FY24 stood at INR 367 Cr.

The company identified Sai Life Sciences, Syngene International, Suven Life Sciences, and Divi’s Laboratories as its listed peers.

The Book Running Lead Managers for the IPO are JM Financial, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India). Anthem’s equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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