IPO Watch: Anthem Biosciences gets SEBI nod to launch ₹3,395 crore IPO

IPO Watch: Anthem Biosciences Limited has obtained approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). The Bengaluru-based firm submitted its Draft Red Herring Prospectus (DRHP) on December 31, 2024, and received its observation letter on April 3, 2025, as per an update from SEBI on Tuesday.

The company's operations include CRDMO services along with the production and sale of Specialty Ingredients. It provides a broad, integrated, and highly adaptable range of CRDMO services that cover the lifecycles of New Chemical Entities (NCE) and New Biological Entities (NBE).

Additionally, it produces and sells complex specialized fermentation-based Active Pharmaceutical Ingredients (APIs), comprising probiotics, enzymes, peptides, nutritional actives, vitamin analogues, and biosimilars.

On the financial side, the company reported a 34.3 percent rise in revenue from operations, reaching ₹1,419 crore in fiscal 2024, up from ₹1,056 crore in fiscal 2023. Its profit after tax for the year ending March 31, 2024, stood at ₹367 crore.

IPO Details

As per the DRHP, the upcoming IPO consists solely of an offer for sale (OFS) of equity shares totaling up to ₹3,395 crore from promoters, investors, and other selling shareholders.

In this OFS, shares will be sold by promoters Ganesh Sambasivam and K Ravindra Chandrappa, along with investors Viridity Tone LLP and Portsmouth Technologies LLC. Additionally, other shareholders including Malay J Barua, Rupesh N Kinekar, Satish Sharma, Prakash Kariabettan, and K Ramakrishnan will be offloading their shares as well.

The Book Running Lead Managers for the offering are JM Financial Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited.

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