Anthem Biosciences files draft papers with Sebi for Rs 3,395-crore IPO
The IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.
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Anthem Biosciences on Tuesday filed preliminary papers with capital markets regulator Sebi to float a Rs 3,395-crore initial public offering.
The proposed initial public offer (IPO) is entirely an offer for sale (OFS) worth Rs 3,395 crore by promoters, investors and other selling shareholders, according to a Draft Red Herring Prospectus (DRHP).
Under the OFS, promoters -- Ganesh Sambasivam and K Ravindra Chandrappa, and investors -- Viridity Tone LLP and Portsmouth Technologies LLC – will sell the shares in Anthem Biosciences.
Other shareholders -- Malay J Barua, Rupesh N Kinekar, Satish Sharma, Prakash Kariabettan, and K Ramakrishnan will also offload their shares in the company.
Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.
Incorporated in 2006, the Bengaluru-based company has two operational manufacturing facilities in Karnataka, with an aggregate annual custom synthesis capacity and fermentation capacity of 270 kL and 142 kL, respectively, as of September 30, 2024.
The third manufacturing facility in Karnataka is under construction and is expected to be fully operational in the first half of 2025.
Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organization (CRDMO) with fully integrated operations spanning across drug discovery, development and manufacturing.
Anthem's business also manufactures and sale of specialty ingredients. It also manufactures and sells complex specialised fermentation-based active pharmaceutical ingredients (APIs), including probiotics, enzymes, peptides, and biosimilars.
The company reported revenue from operations increased by 34.3 per cent to Rs 1,419 crore in fiscal 2024 from Rs 1,056 crore in fiscal 2023. Its profit after tax for the year ended March 31, 2024, was Rs 367 crore.
Sai Life Sciences Ltd, Syngene International, Suven Life Sciences and Divi's Laboratories are the listed peers of Anthem Biosciences, as per the DRHP.
JM Financial Ltd, Citigroup Global Markets India Pvt Ltd, J P Morgan India and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book-running lead managers for the issue.
The equity shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).
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