Mumbai: API and drug intermediaries manufacturer Anlon Healthcare Limited’s IPO has been fully subscribed on the first date of the issue today, August 26. The issue, which came with a price band of Rs.86-91 per share was for bids of 1.33 crore shares on offer. On the first day itself, the company secured bids for 1.36 crore shares- a 1.03x subscription, according to NSE data.
The subscription has been especially popular with retail investors, where their allocation was oversubscribed 9 times. The Non-Institutional Investors (NIIs) recorded a 23% subscription rate. Notably, the QIB segment’s allocation is just 72% of the total allocated to them.
Anlon Healthcare had set aside 75% of the issue for qualified institutional buyers (QIBs), with another 10% for retail investors and the rest for NIIs.
The company aims to use the proceeds to establish a manufacturing facility at Palghar and support its overall business requirements.
Based in Rajkot, Gujarat, Anlon Healthcare has been one of the few pharmaceutical companies manufacturing Active Pharmaceutical Ingredients (APIs), used to make the medicines we use every day. The company currently has a portfolio of 11 APIs and 13 other drug intermediates, which it supplies to leading companies domestically and across Europe, Africa and South East Asia.
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