Anthem Biosciences Ltd. IPO
Anthem Biosciences Ltd, a Bengaluru-based contract research, development, and manufacturing organization (CRDMO), plans a ₹3,395 crore offer-for-sale IPO led by JM Financial, Citi, JP Morgan, and Nomura. With two operational plants in Karnataka (Bommasandra and Harohalli) and strong growth—₹1,419 cr revenue in FY24 (+34%)—the IPO reflects its leadership in custom synthesis and fermentation services.
Min Investment
₹TBA
Lot Size
TBA Shares
Price Range
₹TBA
Issue Size (₹ Cr.)
₹TBA
IPO Type
Future, Mainboard
Key Metrics
Face Value
₹ 2
GMP
Subscription
-
EPS
₹ -
P/E Ratio
- x
RoNW
20.03%
ROE
20.04%
Debt to Equity (₹ Cr.)
0.12
Strengths
- Strong CDMO Capabilities - Anthem Biosciences is a well-established Contract Development and Manufacturing Organization (CDMO) serving global pharmaceutical and biotech clients with custom research, synthesis, and manufacturing.
- Diversified Revenue Base - The company has a wide client portfolio across pharmaceuticals, biotechnology, nutraceuticals, and specialty chemicals, reducing dependency on any single segment.
- State-of-the-Art Infrastructure - It operates two advanced facilities in Bommasandra and Harohalli, Karnataka, with capabilities across fermentation, synthesis, and complex formulation.
- Global Clientele - Anthem serves multinational customers in North America, Europe, and Asia, reflecting strong export and regulatory compliance standards.
- Consistent Financial Growth - The company posted ₹1,419 crore revenue in FY24, showing steady year-on-year growth and healthy margins from value-added services.
Weaknesses
- IPO Is Pure Offer-for-Sale (OFS) - The entire IPO is an OFS by promoters/investors, meaning no new capital is going to the company itself.
- High Export Dependency - A significant portion of revenue comes from overseas markets, exposing the company to foreign exchange and geopolitical risks.
- Intense Competition - Faces stiff competition from both domestic and global CDMOs, which could pressure pricing and margins.
- Regulatory Compliance Burden - Being in a highly regulated space, the business is vulnerable to changes in global compliance requirements or audit outcomes.
- Capital-Intensive Operations - The nature of CDMO services requires continuous investment in R&D, equipment, and facility upgrades, impacting cash flow if not managed carefully.
Financials
| Period Ended | 30-09-2024 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|
| Assets (In Cr) | 2,692.51 | 2,398.11 | 2,014.46 | 1,618.87 |
| Revenue (In Cr) | 910.85 | 1,483.07 | 1,133.99 | 1,280.24 |
| Profit After Tax (In Cr) | 244.31 | 367.31 | 385.19 | 405.54 |
| EBITDA (In Cr) | 327.50 | 519.96 | 446.05 | 587.31 |
| Net Worth (In Cr) | 2,204.37 | 1,924.66 | 1,740.67 | 1,355.00 |
| Total Borrowing (In Cr) | 131.26 | 232.53 | 125.06 | 35.49 |
Company Details
- No. 49, F1 & F2, Canara Bank Road Bommasandra Industrial Area, Phase 1, Bommasandra, Bengaluru, Karnataka, 560099
+91 080 6672 400
- investors.abl@anthembio.com
- https://www.anthembio.com/
Registrar Details
- N/A
04067162222, 04079611000
- anthem.ipo@kfintech.com
- https://kosmic.kfintech.com/ipostatus/
