Anthem Biosciences Files for $397 Million IPO

• Anthem Biosciences filed for a 33.95 billion rupee ($397 million) public offering.

• The company, founded in 2007, provides services such as organic synthesis, process development, and analytical chemistry.

Anthem Biosciences, an India-based contract development and manufacturing organization (CDMO), has filed for a public offering valued at approximately 33.95 billion rupees ($397 million). The move, announced at the end of 2024, aims to support the company’s ongoing expansion in the pharmaceutical and biotech sectors.

Founded in 2007, Anthem has established itself as a key player in custom synthesis, process development, analytical chemistry, and discovery biology. The company has also made strides in regulatory compliance. The offering will help fuel the company’s expansion plans, which include adding new facilities and increasing its synthesis and fermentation capacity.

As per its most recent annual report, Anthem employs over 1,500 people and has completed thousands of projects with around 500 partners. The company operates two facilities in Harohalli and Bommasandra, and is in the process of launching its third site in Harohalli. Anthem also has land acquired for further expansion in Harohalli and Hosur.

The lead underwriters for this offering include JM Financial, Citigroup Global Markets India, J.P. Morgan India, and Nomura, with investment support from private equity firm True North and pharma services provider DavosPharma.