Anthem Biosciences, a leading contract research, development, and manufacturing organization (CRDMO) based in Bengaluru, made its stock market debut today with a strong premium. While the listing was impressive, it came in slightly below the sky-high expectations set by the grey market premium (GMP).
The stock was listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), closing out one of the most talked-about IPOs of 2025.
Anthem Biosciences IPO Subscription & Grey Market Buzz
Anthem Biosciences opened its IPO bidding window between July 14 and 16, and the response was overwhelming. The offer was subscribed nearly 63.9 times overall, indicating massive investor interest. Here’s a breakdown:
- Qualified Institutional Buyers (QIBs): ~182× subscription
- Non-Institutional Investors (NIIs): ~42×
- Retail Investors: ~6×
The company had fixed its IPO price band between ₹540 and ₹570, eventually finalizing the upper band of ₹570 per share for the allotment.
Meanwhile, the grey market premium (GMP) had been climbing steadily throughout the pre-listing period. It started around ₹100 in early July and peaked at ₹174–₹179 on the morning of the listing. This suggested a potential listing price in the range of ₹739–₹749, projecting gains of 31–32%. These speculative numbers set high expectations ahead of the debut.
Anthem Biosciences share Listing Day Performance: Strong But Below the Hype
On July 21, 2025, Anthem Biosciences made its much-awaited debut at ₹723.05 on NSE and ₹723.10 on BSE, translating into a 26.85% premium over the issue price of ₹570.
Although this debut was solid, it was still ₹16–₹26 below the GMP-implied price, slightly underperforming optimistic grey market forecasts. Despite the tempered debut, the stock did show momentum, briefly touching intraday highs of ₹746–₹747, before cooling off and stabilizing close to its opening level.
For many investors, especially those who entered via the grey market, the slightly muted premium may have come as a surprise. Still, a nearly 27% listing gain is considered highly respectable in a competitive IPO environment.
Market Sentiment & Long-Term Outlook
Despite not fully meeting GMP predictions, analysts believe Anthem Biosciences’ debut still signals robust investor confidence, especially considering the nearly 64× subscription rate and strong anchor backing.
Short-term traders are advised to watch for volatility, especially given the stock’s tendency to hover near its listing price. Some analysts suggest booking partial profits for those looking at shorter timeframes.
However, long-term investors are being encouraged to look at the big picture. Anthem Biosciences operates in a high-growth sector and is well-positioned to capitalize on global demand for CRDMO services. Its consistent revenue and profit growth, healthy margins, and expanding international footprint give it a compelling long-term narrative.
Conclusion
Anthem Biosciences’ market debut was a remarkable success by most measures. With an issue size of ₹3,395 crore, a staggering 64× subscription rate, and significant institutional interest, it’s one of the biggest IPO stories of 2025 so far. While the listing price of ₹723 offered a ~27% gain, it did come in slightly lower than the most optimistic GMP estimates.
Now that the stock is officially listed, the focus will shift to sustaining investor interest, operational execution, and delivering on growth promises. Whether Anthem Biosciences can continue its upward trajectory will depend on performance, earnings consistency, and how well it taps into the booming global biotech manufacturing demand.
F.A.Q.
– What was the listing price of Anthem Biosciences shares?
Anthem Biosciences debuted on July 21, 2025, at ₹723.05 on NSE and ₹723.10 on BSE, marking a ~26.85% premium over the IPO issue price of ₹570.
– What was the Grey Market Premium (GMP) before listing?
The GMP ranged between ₹174–₹179 on the day of listing, indicating an expected listing price around ₹739–₹749—higher than the actual debut.
– Was this IPO a fresh issue or an offer-for-sale (OFS)?
It was entirely an Offer-for-Sale, with the company raising ~₹3,395 crore by selling existing shares at ₹570 per share.
– Is Anthem Biosciences a good investment for the long term?
Analysts suggest that long-term investors may benefit due to the company’s strong fundamentals, 30% YoY revenue growth, and focus on the high-growth CRDMO sector. However, stock performance will depend on future earnings and global expansion execution.
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