Law firm Trilegal, CAM, and White & Case participate in the ₹3,395 crore initial public offering (IPO) of Anthem Biosciences.
Anthem Biosciences Limited, one of the youngest Indian CRDMO companies, made a significant stride in the financial market with an initial public offering (IPO) of equity shares worth ₹3,395 crore. The IPO, which was over-subscribed 63.86 times, recorded the highest institutional subscription for a IPO over ₹1,000 crore in 2025.
The IPO was a partial exit for investors such as True North and Daavos Chemical Corporation. Anthem, known for its innovation-driven and technology-focused approach, achieved this milestone within 14 years of operations, marking a significant achievement in the Indian biotech sector.
Trilegal, a leading law firm, represented Anthem Biosciences, promoters, and other selling shareholders in the IPO. RichaChoudhary (Partner) led the Trilegal transaction team, with support from Maitreya Rajurkar (Counsel), Avanti Kale, Sanya Chaudhari, Shivayana Balodia, Anushri Maskara, Siddhant Mishra, and Anay Jain.
On the other hand, the book running lead managers - JM Financial, Citigroup Global Markets India, J.P. Morgan India, and Nomura Financial Advisory and Securities (India) - were advised by Cyril Amarchand Mangaldas. ReubenChacko (Partner, Regional Co-head - Capital Markets - South) led the Cyril Amarchand Mangaldas transaction team, with assistance from VartikaJain (Partner) and Associates - Bhaskar Kumar, Dhruv Sharma, Prakhar Jain, Rakshitha V, and Joe George.
White & Case served as international legal counsel for the Book Running Lead Managers (BRLMs) in Anthem Biosciences' IPO.
Anthem Biosciences listed with a strong debut, delivering a 27% premium on the bourses, signifying investor confidence in the company's growth potential. The successful IPO is a testament to Anthem's significant contributions to the Indian biotech sector and its promising future.
Investors like True North and Daavos Chemical Corporation found a partial exit with Anthem Biosciences' successful IPO, marking the beginning of a new phase in their investing in the business sector. Anthem's innovation-driven finance strategy and technology-focused approach were instrumental in achieving this milestone, positioning them as a significant player in the Indian biotech industry.
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