Anthem Biosciences IPO: Key Highlights4 min read

Anthem Biosciences IPO: Key Highlights4 min read

Anthem Biosciences Limited is coming up with an IPO as the below mentioned details.

Ajay Bhardwaj, Ganesh Sambasivam, K Ravindra Chandrappa and Ishaan Bhardwaj are the Promoters of our Company. The entire issue is an offer for sale. The proceeds of the issue will go to shareholders and not to the company.

About the company

ABL is an innovation-driven and technology-focused Contract Research, Development and Manufacturing Organization (“CRDMO”) with fully integrated operations spanning across drug discovery, development and manufacturing with integrated New Chemical Entity (“NCE”) and New Biological Entity (“NBE”) capabilities across drug discovery, development, and commercial manufacturing. We provide end to end CRDMO services and we serve a range of customers, encompassing innovator-focused emerging biotech and large pharmaceutical companies globally.

The CRDMO platform comprises 5 main modalities (RNAi, ADC, peptides, lipids and oligonucleotides) and 4 manufacturing capabilities (custom synthesis, flow chemistry, fermentation and biotransformation).

Objects of the issue

The objects of the Offer are to (i) carry out the Offer for Sale and thus obtain benefits of listing.

Financials of the company

Basis of Offer price

1. The company offers a comprehensive one-stop service capabilities across the drug life cycle (drug discovery, development and manufacturing) for both small molecules and biologics and we are the fastest growing Indian CRDMO.
2. The company has  innovation-focused approach has enabled us to offer a spectrum of technologically advanced solutions across modalities and manufacturing practices.
3. Differentiated business model catering to the needs of small pharmaceutical and emerging biotech companies, from discovery to commercial manufacturing.
4. Long-standing relationships with a large, diversified and loyal customer base.
5. Wide specialty ingredients portfolio, well positioned to capitalize on the large market opportunity for niche specialty ingredients such as GLP-1, fermentation-based products, probiotics, enzymes, nutritional actives, vitamin analogues and biosimilars.
6. Fully built-out automated manufacturing infrastructure with a consistent regulatory compliance track record.

Risk Factors

1. The company’s  business depends on the demand for our CRDMO services, which contributed to 81.65% of our 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 its business.
2. Developmental and commercial manufacturing contributed to 70.78% of its revenue from operations and 71.90% 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 its control.
3. The company’s financial performance is dependent on the success of the molecules it manufactures, any failure to deliver a commercial molecule is a risk factor.
4. The company needs to keep pace with rapid change in technology. This requires continuous investments. Any failure to input required investment would be a major risk factor.

Investment Rationale

1. According to the F&S Report, the global pharmaceutical industry is projected to grow to U.S.$ 2,076.0 billion by 2029, and CROs and CDMOs are increasingly combining their services to establish integrated CRDMO business models. According to the F&S Report, the Indian CRDMO industry is expected to grow at a CAGR of 13.4% from 2024 to 2029 to reach an estimated value of U.S.$ 15.4 billion.
2. Development of “Make in India” programs for pharmaceuticals with PLI scheme.
3. Schemes targeted specifically to promote the development of Bulk Drug Parks are expected to boost the manufacturing of drug intermediates and API.
4. Favorable FDI Policies: The Indian government allows up to 100% FDI in the pharmaceutical
5. Sector, allowing the investor to enjoy the sole rights to its establishment.
6. Cumulative FDI in the Indian pharmaceutical sector grew at a CAGR of 27.2% from USD 18 billion in FY20196 to USD 60 billion in FY2024 (As of September 2024)7.
7. Strong Development and Manufacturing base: The Indian pharma industry is highly developed, with approximately 3,000 drug companies, 10,500 manufacturing units, and the largest number of US FDA-approved plants (March 31, 2025) outside of the US as of 2025.
8. Lower manufacturing costs: India provides substantial cost advantages in terms of labor and operational expenses compared to the US and Western markets