&w=3840&q=100)
Anthem Biosciences IPO subscribed 73 pc on Day 1 of offer
Press Trust of India New Delhi
The initial public offer of Anthem Biosciences Ltd got subscribed 73 per cent on the first day of share sale on Monday.
The initial share sale received bids for 3,21,13,406 shares against 4,40,70,682 shares on offer, according to NSE data.
Non-institutional Investors category garnered 1.55 times subscription, while the quota for Retail Individual Investors (RIIs) got subscribed 58 per cent. The portion for Qualified Institutional Buyers (QIBs) received 37 per cent subscription.
Anthem Biosciences has raised Rs 1,016 crore from anchor investors.
The Rs 3,395-crore IPO of the Bengaluru-based firm will close on July 16. The price band has been fixed at Rs 540-570 per share.
Since the IPO is entirely an offer-for-sale (OFS), the company will not receive any funds from the issue, and the proceeds will go to the selling shareholders.
Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organization (CRDMO) with fully integrated operations spanning across drug discovery, development and manufacturing.
It also manufactures and sells complex, specialised fermentation-based Active Pharmaceutical Ingredients (APIs), including probiotics, enzymes, peptides, nutritional actives, vitamin analogues and biosimilars.
JM Financial, Citigroup Global Markets India, J P Morgan India, and Nomura Financial Advisory and Securities (India) are the book-running lead managers for the issue.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
2 minutes ago
- India.com
Mumbai To Ahmedabad In 2 Hours: Indias First Bullet Train To Start Soon; Check Expected Speed
India's First Bullet Train: Railway Minister Ashwini Vaishnaw on Sunday announced that India's first bullet train between Mumbai and Ahmedabad will begin operations very soon, reducing travel time between the two cities to just 2 hours and 7 minutes. He was speaking to reporters at the Bhavnagar terminus in Gujarat after virtually flagging off three trains, namely the Ayodhya Express, Rewa Pune Express, and Jabalpur Raipur Express. He further stated that the bullet train project is progressing rapidly. 508-Kilometre Rail Corridor The 508-kilometre high-speed rail corridor will connect Mumbai's Bandra Kurla Complex (BKC) with key cities in Gujarat, including Vapi, Surat, Vadodara, and Ahmedabad. The trains are expected to run at speeds of up to 320 km/h. Vaishnaw also outlined several upcoming railway projects in Gujarat, including a new Porbandar–Rajkot train, a Rs 135-crore coach maintenance facility at Ranavav station, a railway flyover in Porbandar, two Gati Shakti cargo terminals, and a container terminal at a developing port in Bhavnagar. He highlighted the nation's progress, saying that during the last 11 years, 34,000 km of new railway tracks have been installed under the PM Narendra Modi administration, averaging almost 12 km per day. He described the 1,300 railway stations undergoing renovation as an unprecedented endeavour in the history of Indian Railways. PM Modi's Vision Ashwini Vaishnaw pointed out that India is implementing this change while maintaining train operations and keeping stations operational, which reflects the scope of PM Modi's vision, in contrast to developed nations, where station redevelopment entails completely stopping services. Adding further, he cited the introduction of contemporary trains such as the Vande Bharat Express, the Amrit Bharat Express, and the Namo Bharat Express. Eight Amrit Bharat trains with high-class amenities and reasonably priced tickets have been introduced thus far. According to the minister, passengers have responded favorably to these new trains, which were constructed using cutting-edge technology. With the help of double-engine governments in Madhya Pradesh and Chhattisgarh, significant railway projects are also progressing in those states, in addition to Gujarat, the minister highlighted. (With IANS Inputs)
Mint
2 minutes ago
- Mint
Wall Street Banks Lose Ground in Europe as Tariffs Spook Clients
(Bloomberg) -- As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe — corporates across the continent are taking notice. As a result, some companies have begun to diversify their banking relationships away from the giants of Wall Street, according to data compiled by Bloomberg. That's been a boon for Europe's leading banks, which have been actively vying to win the extra business. 'Some players are saying that it's better to go to European or French investment banks for advice on financing or mergers and acquisitions,' said Arnaud Petit, managing director of Edmond de Rothschild's corporate finance business. Deutsche Bank AG Chief Executive Officer Christian Sewing sees similar in potential clients' requests for proposals: 'It is happening every day with client wins and RFPs and new business that we put on.' So far this year, roughly half of the euro bond deals from non-US companies did not involve any of the five biggest US banks, according to data compiled by Bloomberg. That's up five percentage points from a year earlier. For sterling bonds the gap has widened even further — Wall Street banks were shut out of just 47% of deals throughout all of last year. So far this year, though, they've been excluded from 64% of them. The emergence of the ability of a few European banks 'to be able to offer competitive services and advice to clients' has created a desire among clients to switch, according to UBS Group AG Chief Executive Sergio Ermotti. 'We believe we are well placed to continue to benefit from that diversification.' Even before Trump's trade war kicked off in earnest, the biggest of the US banks warned that it was starting to see an impact. By April, JPMorgan Chase & Co. had already lost 'a couple' of bond deals tied to the tariff uncertainty, with companies opting for local banks instead, Chief Executive Officer Jamie Dimon said in an interview with Fox Business at the time. He warned that the tumult was 'causing cumulative damage including huge anger at the United States.' The latest example of a win for non-US banks came this week, when Zurich-based insurer Chubb Ltd. issued an offshore yuan-bond. It opted for Standard Chartered Plc to help take on the deal. The bank was told: 'We want to bank with the regional champions, rather than just with global banks in general,' Standard Chartered Chief Financial Officer Diego de Giorgi said. 'Because we think that you guys bring specific skills in a world that is fragmenting.' Chubb is not an exception. The effect is most pronounced in Asia, where economies are expected to be hard hit by the changing trade regimes and the re-routing of supply chains, said Ruchirangad Agarwal, head of corporate banking for Asia and the Middle East at the research firm Coalition Greenwich. 'The willingness of companies in Asia to change their transaction bank is currently at a high: a third of them plan to issue a new RFP within the next 12 months,' Agarwal said. Already, US lenders' market share in financing trade for Chinese companies has dropped in recent years - from 12% in 2017 to about 7% share now, he added. 'We expect to see heightened uncertainty and customer churn at US banks as large corporates take an active risk management stance on FX, interest rates, counterparty risk, geopolitical tensions and supply chain disruptions,' said Martin Smith, head of markets analysis at East & Partners. BNP Paribas SA, meanwhile, has gained more share than any other player in Asia, Smith said. 'There are clearly strategic opportunities in the tectonic shifts that the world has been seeing in recent months' Societe Generale SA CEO's Slawomir Krupa said of companies looking to shift toward European banking partners. 'The logic behind this form of risk diversification has become more apparent for companies.' --With assistance from Harry Wilson, Claudia Cohen and Noele Illien. More stories like this are available on
Economic Times
2 minutes ago
- Economic Times
Metro corridor expansion gains pace in Hyderabad's Old City, pillar marking begins: Official
he proposed metro rail corridor between MGBS and Chandrayangutta in the Old City here has gained momentum, with pillar marking underway and road-widening activities progressing steadily, Hyderabad Airport Metro Limited managing director N V S Reddy said on added that the metro alignment has been carefully planned to optimise the route while minimising the number of affected properties."Daily review meetings are being held with engineering and revenue officials to closely monitor progress," Reddy said in a noted that the initial estimate of 1,100 affected properties was reduced to around 900 through engineering redesign and realignment efforts. So far, awards have been issued for 412 properties, and demolition has been completed for 380 of amounting to Rs 360 crore has already been disbursed to affected property owners. A detailed action plan has been prepared to expedite the acquisition of the remaining properties and complete demolitions swiftly, he the construction front, Reddy said preparatory work for the metro project has commenced. Locations for the metro pillars-spaced roughly 25 metres (about 82 feet) apart-have been identified, and ground marking is in progress.A geotechnical agency has been engaged to carry out soil bearing capacity tests for the stations and viaduct pillars. A Differential Global Positioning System (DGPS) survey has also been completed to finalise pillar and station locations while avoiding disturbance to historical or sensitive Benchmark (TBM) points have been established to aid survey and construction during the execution further stated that arrangements are being made to shift underground sewerage, water pipelines, stormwater drains, and overhead power lines in areas where pillars and stations will come up. In line with Telangana Chief Minister A Revanth Reddy's directives, all overhead electricity lines along the corridor will be converted to underground cabling, he added.
