The Indian healthcare and pharma-related IPO market continues to attract investor attention, and Anlon Healthcare Ltd. has entered the fray with its maiden public offering. The company has launched its IPO on August 26, 2025, and the issue will remain open till August 29, 2025. With strong interest in specialty APIs, custom synthesis, and pharmaceutical intermediates, this IPO has already caught the eyes of retail investors.
IPO Details at a Glance
- IPO Open Date: August 26, 2025
- IPO Close Date: August 29, 2025
- Price Band: ₹86 – ₹91 per share
- Lot Size: 164 shares (minimum investment ~₹14,924 at the upper band)
- Issue Size: Approx. ₹121 crore (Fresh Issue)
- Type: 100% Fresh Issue (no OFS)
- Lead Manager: Interactive Financial Services
- Registrar: KFin Technologies
Fund Utilisation
The company plans to use the proceeds from the IPO strategically to strengthen its operations and future growth:
- ₹30.7 crore for capital expenditure to expand manufacturing capacity
- ₹43.15 crore for working capital requirements
- ₹5 crore for repayment of borrowings
- ₹42 crore for general corporate purposes
IPO Structure
- Qualified Institutional Buyers (QIBs): 75% of the issue
- Non-Institutional Investors (NIIs): 15% of the issue
- Retail Investors: 10% of the issue
This allocation structure gives a strong push to institutional investors while also creating space for retail participation.
Subscription Status (Day 1)
The IPO received healthy demand on its opening day:
- Overall Subscription: ~1.7×
- Retail Portion: ~9× subscribed (indicating strong retail enthusiasm)
- QIB Portion: ~0.91× subscribed
- NII Portion: ~0.71× subscribed
Retail investors are clearly bullish, while institutions seem more cautious at this early stage.
Grey Market Premium (GMP)
The GMP (Grey Market Premium) is hovering between ₹5–6, which suggests a 5–6% listing gain over the upper price band. This is a modest premium but indicates confidence in listing day performance.
Business Overview
Anlon Healthcare operates in the healthcare-pharma sector with focus on custom synthesis, specialty active pharmaceutical ingredients (APIs), and intermediates.
- Strong compliance-driven model with high entry barriers
- Growth supported by increasing demand for niche APIs
- Scaling up with planned expansion funded through IPO
Financial Highlights & Valuation
At the upper price band of ₹91:
- Valuation stands at a P/E ratio of ~19–24× FY25 earnings (as per different analyst estimates)
- EV/EBITDA comes around 16.7×, reflecting a premium pricing compared to some peers
While valuations appear on the higher side, the business potential in a niche pharma segment could justify the pricing for long-term investors.
Risks to Consider
- Single manufacturing facility – dependency risk
- Fully priced IPO – not cheap compared to peers
- Regulatory delays – approvals and compliance are critical in pharma
- High competition – Indian API sector is competitive, with large established players
Key Dates
- IPO Closes: August 29, 2025
- Allotment Finalisation: September 1, 2025
- Refunds & Demat Credit: September 2, 2025
- Listing on NSE & BSE: September 3, 2025
Analyst Views
- Positive Side: Many analysts recommend a long-term subscribe, citing strong growth potential, niche business, and regulatory approvals as key positives.
- Caution Side: Some experts advise restraint due to high valuations and operational concentration risks. For conservative investors, the IPO might look fully priced.
Market Impact
- The IPO is likely to see oversubscription from retail investors, boosting short-term listing momentum.
- However, institutional interest will be a deciding factor for sustainable post-listing performance.
- A modest GMP suggests decent listing gains but not a blockbuster debut.
Conclusion – Should You Apply?
If you are a long-term investor with confidence in the API and pharma intermediate segment, Anlon Healthcare IPO offers exposure to a high-growth niche with regulatory barriers that provide a moat.
However, if your focus is short-term listing gains, you may need to weigh the modest GMP and the fully-priced valuation carefully. A small retail application could be justified, but heavy investment may not be ideal unless you believe in the long-term expansion story.
Subscription
| Investor | 26 Aug 2025 | 28Aug 2025 | 29Aug 2025 |
|---|---|---|---|
| Anchor | 0 | ||
| QIB | 0.91 | ||
| Non-Institutional | 0.71 | ||
| BNII | 0.48 | ||
| SNII | 1.16 | ||
| Retail | 8.99 | ||
| Total | 1.69 |
GMP Trend:
| Date | GMP |
|---|---|
| 26 Aug 2025 | ₹5(5.49%) |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
How to Check IPO Allotment Status:
Kfin Technologies Ltd
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NSE Website
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
BSE Webiste
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
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