The initial public offering (IPO) of Anlon Healthcare, which closed recently, is scheduled to list on the Indian stock exchanges on Wednesday, September 3. During its subscription window from August 26 to 29, the issue witnessed healthy demand, with an overall subscription of 7.12 times.
The IPO received total bids for 9.47 crore shares against 1.33 crore shares offered. The retail investors’ portion was subscribed 47.26 times, while the NII and QIB portions were booked 10.61 times and 1.07 times, respectively.
As the allotment concluded, investor focus has now shifted to potential listing gains, typically gauged by the grey market premium (GMP). According to market sources, the company’s shares are quoting at ₹03 in the grey market, indicating that the shares might list slightly above the issue price at ₹91 per share or at the same as the IPO price.
The grey market premium reflects investors’ willingness to pay a premium over the IPO price. The mainboard IPO, valued at ₹121 crore, is entirely a fresh issue of 1.33 crore. The company shares are to be listed on both NSE and BSE exchanges.
The company proposes to use the issue proceeds for funding capital expenditure requirements for the proposed expansion, full or partial repayment and/or prepayment of certain outstanding secured borrowings (term loans) availed by the company, funding its working capital requirements, and for general corporate purposes.
Interactive Financial Services Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue.
About Anlon Healthcare
The company is a chemical manufacturing company engaged in the production of high-purity advanced pharmaceutical intermediates, which serve as raw materials/key starting materials in the manufacturing of active pharmaceutical ingredients (APIs).
These APIs, in turn, serve as raw materials for pharmaceutical formulations in the preparation of various types of Finished Dosage Forms (FDF), such as tablets, capsules, ointments, and syrups, as well as ingredients in nutraceutical formulations, personal care products, and animal health products.