The $ 395 million public list of Indian drug maker Anthem Biosciences was completely subscribed to the second day of bidding, because investors bet on the growth views of the company at a time when Global Big Pharma turns to India to limit their dependence on China.
The IPO received bids worth £ 2,638 crore ($ 307 million), or 1.05 times the shares offered from 10:24 am ist, the exchange data on Tuesday appear.
The shares are probably starting to act on July 21.
Worldwide drug makers have wanted to limit their dependence on Chinese contractors that produce medicines used in clinical tests and production at an early stage, a movement that benefits rivals in India.
Anthem, which started with activities and had two production facilities in Bengaluru in 2007, offers drug discovery at an early stage and testing drug effectiveness. It also makes active pharmaceutical ingredients, the most important part of a medicine, as well as nutritional supplements and probiotics.
The drugstore picked up $ 118 million from anchor investors last week, including ABU DHABI Investment Authority, Noorway’s Noords Bank and the Societe General of France, as well as domestic funds such as HDFC Mutual Fund and Icici Prudential AMC.
The Indian companies are expected to collect $ 2.4 billion in July by public issues, so that the hope of a persistent revival in the primary supply after demand was dented by the American trade war and global geopolitical tensions earlier this year.
Private Equity company True North and drug maker Davospharma belonged to the investors who sold shares in the IPO. Anthem has not sold any shares. ($ 1 = 85,8640 Indian rupees)
Published on July 15, 2025
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