Anthem Biosciences Limited, a prominent player in the biotechnology sector, has recently secured the green light from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). Based in Bengaluru, this innovative company submitted its Draft Red Herring Prospectus (DRHP) on December 31, 2024, and received a key observation letter from SEBI on April 3, 2025. This milestone highlights Anthem’s commitment to expanding its reach in the biotechnology market.

Company Overview and Services

Anthem Biosciences specializes in Contract Research and Development Manufacturing Organization (CRDMO) services, alongside the production and distribution of Specialty Ingredients. The company offers a comprehensive suite of CRDMO services that effectively address the entire lifecycle of New Chemical Entities (NCE) and New Biological Entities (NBE).

• Core Services:
  • CRDMO services
  • Production of specialized fermentation-based Active Pharmaceutical Ingredients (APIs), including:
  • Probiotics
  • Enzymes
  • Peptides
  • Nutritional actives
  • Vitamin analogues
  • Biosimilars

Financial Performance

On the financial front, Anthem Biosciences has demonstrated impressive growth. For the fiscal year ending March 31, 2024, the company reported a remarkable 34.3% increase in revenue, soaring to ₹1,419 crore, up from ₹1,056 crore in the previous fiscal year. Moreover, the company achieved a profit after tax of ₹367 crore, underscoring its robust financial health.

IPO Structure and Details

The anticipated IPO will consist entirely of an offer for sale (OFS) of equity shares, aiming to raise up to ₹3,395 crore from promoters, investors, and other selling stakeholders. This offer will include shares from prominent figures such as:

• Ganesh Sambasivam
• K. Ravindra Chandrappa
• Viridity Tone LLP
• Portsmouth Technologies LLC

Additionally, other shareholders like Malay J. Barua, Rupesh N. Kinekar, Satish Sharma, Prakash Kariabettan, and K. Ramakrishnan will also participate in the share sale.

Leading Financial Advisors

To facilitate this significant offering, Anthem has appointed a team of reputable financial institutions as Book Running Lead Managers, including:

• JM Financial Limited
• Citigroup Global Markets India Private Limited
• J.P. Morgan India Private Limited
• Nomura Financial Advisory and Securities (India) Private Limited

This IPO not only represents a crucial step for Anthem Biosciences but also marks a significant moment in the Indian biotechnology landscape. As the company prepares for its public debut, stakeholders are keenly observing the developments, particularly in light of the growing demand for innovative healthcare solutions.

In summary, Anthem Biosciences’ IPO could be a pivotal event for investors and the biotechnology sector alike, promising exciting opportunities as the company continues to expand its footprint in the industry.