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Business Standard
6 days ago
- Business
- Business Standard
Thinking of investing in Anthem Biosciences IPO? Know key risks, strengths
Anthem Biosciences IPO: Contract research, development, and manufacturing organisation (CRDMO) Anthem Biosciences is set to launch its Initial Public Offering (IPO) on Monday, July 14, 2025. The public issue is entirely an Offer for Sale (OFS), with promoters and existing shareholders divesting up to 59.6 million equity shares, aggregating to approximately ₹3,395 crore. The public issue is entirely an Offer for Sale (OFS), with promoters and existing shareholders divesting up to 59.6 million equity shares, aggregating to approximately ₹3,395 crore. From the promoter group, Ganesh Sambasivam and K Ravindra Chandrappa are among those participating in the OFS. Viridity Tone LLP, Portsmouth Technologies LLC, and Malay J. Barua are among the shareholders divesting their stakes through the Anthem Biosciences IPO. Anthem Biosciences has set the price band for the IPO at ₹540 to ₹570 per share. The minimum application size has been set at 26 shares per lot. The issue will open for subscription on July 14 and remain available until July 16. The company's shares are tentatively scheduled to make their D-Street debut on July 21, 2025. It is worth noting that Anthem Biosciences will not receive any proceeds from the IPO. All the funds raised will go directly to the selling shareholders, after accounting for offer-related expenses and applicable taxes, which will be borne by the respective sellers. As investors await the opening of Anthem Biosciences IPO, here are the key strengths and risks outlined in its Red Herring Prospectus (RHP) that every investor should be aware of: Key strengths of Anthem Biosciences Strong global customer base with long-term relationships: As of March 31, 2025, Anthem Biosciences had more than 550 customers across both its CRDMO and specialty ingredients businesses, spread over more than 44 countries, including the United States, European countries, and Japan. Many of these customers have long-standing relationships with the company. According to the F&S Report, Anthem Biosciences has the highest number of customers among its assessed Indian peers as of March 2025. Market-leading fermentation capacity: The company has the largest fermentation capacity among Indian CRDMO companies, with a 142 kL capacity as of March 31, 2025. Following the completion of its expansion activities by the first half of Fiscal 2026, Anthem Biosciences' fermentation capacity is expected to reach 182 kL—more than six times the fermentation capacity of the second-largest assessed player in the industry, according to the F&S Report. Diversified specialty ingredients portfolio: Anthem Biosciences also maintains a wide specialty ingredients portfolio and is well-positioned to capitalise on the large market opportunity for niche specialty ingredients such as GLP-1, fermentation-based products, probiotics, enzymes, nutritional actives, vitamin analogues, and biosimilars. Focused business model for emerging pharma and biotech players: According to the F&S Report, while large multinational pharmaceutical companies currently dominate the global pharmaceuticals market, there is a growing prominence of small pharmaceutical and biotech companies, reflecting a broader shift in the pharmaceutical industry towards novel therapies and innovation-driven growth. Anthem Biosciences has a differentiated business model catering to the needs of small pharmaceutical and emerging biotech companies, from discovery to commercial manufacturing. Comprehensive end-to-end service capabilities: Anthem Biosciences offers comprehensive one-stop service capabilities across the drug life cycle (drug discovery, development, and manufacturing) for both small molecules and biologics and is the fastest-growing Indian CRDMO. Key risks of Anthem Biosciences High dependence on CRDMO services: Anthem Biosciences' business depends on the demand for its contract research, development and manufacturing organisation (CRDMO) services, which contributed to 81.65 per cent of its revenue from operations in Fiscal 2025. Any adverse impact on its CRDMO customers' business or the industries in which they operate may have a material adverse effect on the company's business. Dependence on DavosPharma for US market presence: Anthem Biosciences is dependent on its arrangements with DavosPharma, the affiliate of one of its shareholders and also a selling shareholder, for its business and marketing activities in the United States. Reliance on the success of specific molecules: The company's financial performance is dependent on the success of the molecules it manufactures, and its revenue from operations decreased in Fiscal 2023 compared to Fiscal 2022, partly attributable to the failure of a Phase III molecule and the withdrawal of a commercialised molecule. Accordingly, any unfavorable developments affecting these molecules' success rates, including failures to obtain the required regulatory approvals or withdrawal of commercialised molecules, may have an adverse impact on Anthem Biosciences' business, financial condition, results of operations, and prospects. Risks associated with project failures: Developmental and commercial manufacturing contributed to 70.78 per cent of Anthem Biosciences' revenue from operations and 71.90 per cent of its total number of projects in Fiscal 2025. The company's business may be adversely affected by a failure in early-phase developmental projects or a failure to develop or manufacture commercially viable drugs, including for reasons that are not within Anthem Biosciences' control.
Mint
10-06-2025
- Business
- Mint
Upcoming IPO: Karamtara Engineering gets SEBI nod to raise funds through IPO
Upcoming IPO: Karamtara Engineering Limited, which submitted its Draft Red Herring Prospectus (DRHP) in January 2025, has today received final observations from SEBI to proceed with its IPO fundraising. The company presented its IPO paperwork to SEBI on January 23, 2025. As a backward integrated producer of transmission line and renewable energy products, Karamtara Engineering stands out. According to the F&S Report, it holds the position as the top manufacturer of solar mounting structures and tracker components in India based on installed capacity for Fiscal 2024 and for the six months ending September 30, 2024. Given their extensive product range, Karamtara Engineering has the potential to serve as a single-source provider for solar structures, encompassing both trackers and fixed-tilt systems. The company's offerings include structures for the transmission sector (such as lattice towers for transmission lines) alongside the solar energy sector (like solar module mounting structures, solar tracker piles and piers, and solar torque tubes). In addition, it manufactures OHTL hardware fittings and accessories (including insulator string fittings, jumper tubes, suspension clamps, and vibration dampers) as well as fasteners (such as bolts, nuts, studs, and washers). The total size of the offer consists of a new equity shares issue valued at ₹ 1,350 crore, in addition to an offer for sale by Selling Shareholders amounting to ₹ 400 crore. The Company intends to utilize the net proceeds from the new issue primarily for funding initiatives. Specifically, ₹ 1,050 crore will be set aside for the prepayment, repayment, or settlement of obligations owed to lenders related to borrowings. The remaining funds will be allocated for general corporate purposes. Prominent investors such as Jagdish Naresh Master, Utpal Hemendra Sheth, Singularity Growth Opportunities Fund, Gaurav Trehan, Quantum State Investment Fund, Ananta Capital Venture Fund, Jaidev Rajnikant Shroff, Axia Select Opportunities Fund, Mithun Padam Sacheti, and Siddhartha Sacheti, along with MNI Ventures, have invested in the firm through preferential allotment, as stated in the DRHP. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
