Shares of Anlon Healthcare disappointed on their Dalal Street debut on Wednesday, September 01 as the stock was listed at Rs 92 on NSE, a premium of 1.10 per cent over its issue price of Rs 91. Similarly, stock kicked-off its maiden trading session at par, that is the issue price of Rs 91 on BSE.
Listing of Anlon Healthcare has been on the expected lines. Ahead of listing, shares of Anlon Healthcare were commanding a grey market premium (GMP) of only 1 per share, suggesting a flat listing for the investors. Its premium in the unofficial market was seen consistently declining from Rs 5 levels since the opening of the bidding.
Anlon Healthcare is likely to finalize the basis of allotment of its shares on Monday, September 01. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, September 02. The API formulations player saw a muted response from the investors.
The IPO of Rajkot-based Anlon Healthcare was open for bidding between August 26-August 29. It had offered its shares in the price band of Rs 86-91 per share with a lot size of 164 shares. The company raised a total of Rs 121.03 crore via IPO, which was entirely a fresh share sale of 1,33,00,000 equity shares.
The issue was overall subscribed only 7.13 times fetching nearly 3.35 lakh applications, fetching bids only for 862.35 crore for the issue net of anchor book. The allocation for the qualified institutional bidders (QIBs) was subscribed merely 1.07 times, while the portion for non-institutional investors’ (NIIs) was subscribed 10.61 times. However, the retail investors’ quota was booked at 47.30 times.
Incorporated in 2013, Anlon Healthcare is a chemical manufacturing player engaged in manufacturing of active pharmaceutical ingredients (APIs) and pharma intermediates. It manufactures high-purity pharmaceutical intermediates for API production and active pharmaceutical ingredients for formulations of medicines, nutraceuticals, personal care and animal health products.
Brokerage firms have a mixed view on the issue, with some suggesting to subscribe it while others suggesting to skip the issue. Interactive Financial Services was the book running lead manager of Anlon Healthcare IPO and Kfin Technologies served as the registrar of the issue.