Anlon Healthcare IPO Sees Strong Demand Ahead of Debut

Anlon Healthcare Ltd’s initial public offering (IPO) has attracted significant interest, closing on August 29, 2023, with a subscription rate of 7.12 times. This strong demand reflects investors’ confidence in the pharmaceutical company, which aims to raise a total of Rs 121.03 crore through this public offering.

The final day of bidding saw an impressive response, with 94.7 million shares applied for against the 13.3 million shares available for subscription. The retail portion of the IPO was particularly popular, being subscribed 47.26 times. Retail investors bid for over 62.85 million shares, while only 1.33 million shares were reserved for this category. Additionally, non-institutional investors submitted bids for 21.16 million shares, resulting in a subscription rate of 10.61 times for their allocation.

The qualified institutional buyers (QIBs) also demonstrated robust interest, with their quota being oversubscribed 1.07 times. They placed bids for over 10.68 million shares, compared to the 9.97 million shares allocated to them.

Share Allotment and Trading Details

Following the closure of the subscription window, the IPO share allotment status will be determined on September 1, 2023. Applicants can check their allotment status through the Kfin Technologies Pvt Ltd website, as well as on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The shares of Anlon Healthcare are anticipated to debut on the stock exchanges on September 3, 2023. According to grey market activity, the shares are trading at a premium between Rs 2 and Rs 6, indicating a modest debut. The IPO price band is set between Rs 86 and Rs 91. At the higher end of the price range, the shares are quoted at approximately Rs 97, suggesting an initial premium of over 6.59 percent.

Investors looking to participate in the IPO had to place bids for a minimum of one lot, which consists of 164 shares, requiring an investment of Rs 14,924. Once the basis of allotment is finalized, refunds will be initiated for unsuccessful bidders on September 2, 2023. Those allocated shares can expect them to be credited to their demat accounts on the same day.

The successful response to Anlon Healthcare’s IPO illustrates investors’ optimism in the pharmaceutical sector, setting the stage for what is expected to be an impactful market entry. With the debut scheduled for September 3, all eyes will be on how the shares perform on the exchange.