In the grey market, the premium (GMP) is currently around 4% above the upper price band of Rs 91, indicating a modest listing premium. The company is offering a fresh issue of 1.33 crore equity shares, with a price band set between Rs 86 and Rs 91 per share.
Anlon Healthcare GMP today
Anlon Healthcare’s IPO is trading at a 4.4% premium in the grey market, surpassing its upper price band of Rs 91, suggesting a modest gain ahead of its listing. This implies the issue is likely to list near Rs 95.GMP Note: The Grey Market Premium (GMP) represents the unofficial premium investors are willing to pay prior to the stock’s official listing.
Anlon Healthcare Subscription Status
The issue was fully subscribed on Day 1. On the second day so far, the issue has been applied 1.84 times. Retail Individual Investors (RIIs) led the demand, subscribing 10.34 times the 13.30 lakh shares reserved for them. Non-Institutional Investors (NIIs) subscribed to 79% of their 19.95 lakh share quota, while Qualified Institutional Buyers (QIBs) placed bids for 91% of the 99.75 lakh shares allocated to them.
Anlon Healthcare IPO Details
Anlon Healthcare’s Rs 121 crore IPO opened for subscription on August 26 and will remain open until August 29. The issue comprises a fresh offering of 1.33 crore equity shares, with a price band of Rs 86 to Rs 91 per share.
The minimum lot size is 164 shares, requiring a retail investment of approximately Rs 14,924. Interactive Financial Services is managing the issue, while KFin Technologies is acting as the registrar. The shares are slated to list on the NSE SME platform on September 3.
Company Background
Anlon Healthcare, based in Rajkot, Gujarat, is a chemical manufacturing company focused on producing high-purity pharmaceutical intermediates and active pharmaceutical ingredients (APIs). Its products serve as key raw materials in the formulation of tablets, capsules, ointments, nutraceuticals, personal care items, and veterinary APIs.
The company is among the few domestic producers of loxoprofen sodium dihydrate — a widely used anti-inflammatory medication for arthritis, back pain, and post-surgical recovery. Anlon has filed multiple Drug Master Files (DMFs) across international markets including the EU, Russia, Japan, and South Korea, and is actively pursuing approval with the US FDA.
Its product portfolio includes more than 65 commercialized products, alongside 28 in the pilot phase and 49 under laboratory testing.
In FY25, Anlon Healthcare reported revenue of Rs 120 crore, a sharp rise from Rs 66 crore in FY24. Net profit also more than doubled, increasing to Rs 20.5 crore from Rs 9.7 crore in the previous year.
Utilization of IPO Proceeds
Proceeds from the IPO will be utilized to expand manufacturing capacities, repay select borrowings, and meet general corporate requirements.
Should Investors Consider Subscribing?
Brokerage firm Anand Rathi has assigned a “Subscribe – Long Term” rating to the Anlon Healthcare IPO, citing its strong and diversified product portfolio, scalable business model, and regulatory approvals across multiple geographies.
However, the firm notes that the IPO is “fully priced,” with a P/E ratio of 19x based on FY25 earnings and an EV/EBITDA of 16.7x. As such, it recommends the issue primarily for investors with a long-term horizon.
Key risks identified include stringent regulatory oversight, potential manufacturing plant shutdowns, and exposure to product quality audits, which could lead to delays or cancellations.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)