Anthem Biosciences IPO
Anthem Biosciences Limited (ANTHEM) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 21 July 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +48.5% (likely range +33% to +91%), day's high +57.4%, chance of a gain 92%. Actual: +26.9% at the open, +31.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,25,43,518 | 2,29,10,95,976 | 183x | |
| NII (HNI) total | 94,07,639 | 39,84,69,578 | 42.4x | |
| Big NII (above ₹10 lakh) | 62,71,760 | 30,69,18,534 | 48.9x | |
| Small NII (₹2-10 lakh) | 31,35,879 | 9,15,51,044 | 29.2x | |
| Retail | 2,19,51,158 | 12,38,47,828 | 5.64x | |
| Employees | 1,68,367 | 11,10,746 | 6.60x | |
| Total | 4,40,70,682 | 2,81,45,24,128 | 63.9x |
Bids on NSE and BSE together, as published by NSE, as of 16 Jul 2025, 07:00 PM. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Anthem Biosciences's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Emcure PharmaceuticalsJul 2024 | 196x | 48.3x | 7.21x | 67.9x | ₹1,950 Cr | +31.4% | +37.4% |
| Premier EnergiesAug 2024 | 217x | 50.0x | 7.69x | 74.4x | ₹2,838 Cr | +120.0% | +121.0% |
| Bajaj Housing FinanceSep 2024 | 209x | 41.5x | 7.04x | 63.6x | ₹6,958 Cr | +114.3% | +135.7% |
| IndegeneMay 2024 | 198x | 55.1x | 7.95x | 69.9x | ₹1,840 Cr | +44.9% | +46.0% |
| Waaree EnergiesOct 2024 | 209x | 62.5x | 10.8x | 76.3x | ₹4,484 Cr | +66.3% | +74.6% |
| Belrise IndustriesMay 2025 | 108x | 38.3x | 4.27x | 41.3x | ₹2,276 Cr | +11.1% | +13.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Anthem Biosciences IPO price band and lot size? ₹540–570 per share, with a lot of 26 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 63.9x overall: QIB 183x, NII 42.4x, retail 5.64x, employees 6.60x.
How did it list? It opened at ₹723, +26.9% against the issue price of ₹570, and closed its first day +28.1%.
