Anthem Biosciences soars on debut: Shares jumps 3% after healthy listing - Should you buy now?
The company's IPO investors are now sitting on overall gains of around 31%, ET reported.
The stock market welcomed Anthem Biosciences with a robust listing premium of 26.84%, opening at Rs 723 compared to its issue price of Rs 570.
The IPO received an extraordinary response with 67.42 times subscription across investor categories.
The offering consisted entirely of an offer for sale, with proceeds directed to existing shareholders. Prior to the public offering, anchor investors contributed Rs 1,016 crore.
Should you buy the shares now?
Prashanth Tapse, Senior VP (Research) at Mehta Equities, told ET that, "While post-listing valuations may appear premium, we believe these are justified by the company's strong fundamentals, differentiated capabilities, and the sector's long-term growth visibility."
Based on the company's financial performance and industry position, he further advised investors to "HOLD" Anthem Biosciences with a long-term outlook.
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"For long-term investors, Anthem offers a strong structural story in a booming Indian CRDMO segment, which justifies the listing," he noted.
The analysis suggests a short-term target of Rs 900, whilst long-term investors might consider holding for Rs 1,000 and beyond.
For those who missed the IPO allocation, it's advisable to wait for price stabilisation, ET reported.
Established in 2006, Anthem's operations span across drug discovery, development, and commercial manufacturing for both small molecules and biologics.
The company's FY25 financial performance showed revenue growth of 30% to Rs 1,930 crore and profit increase of 23% to Rs 451 crore. EBITDA stood at Rs 684 crore with a 37% margin, maintaining minimal debt levels.
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