Anlon Healthcare opened its IPO today, subscribed almost half (50%) by now. The company is hopeful for a robust listing amid risks associated with its fundamentals.
Anlon Healthcare Ltd IPO opened its IPO today, marking a spot in India's listed pharmaceutical intermediates and advanced chemical industry. Available for public subscription from August 26 to August 29, 2025, the IPO shall be raising ₹121.03 crores through a fresh issue of 1.33 crore shares, with shares going live on the BSE and NSE SME platform on September 3, 2025.
The IPO price band has been fixed at ₹86 to ₹91 per equity share of face value of ₹10 each. One can bid for a minimum one lot of 164 shares with an investment of around ₹14,924. Allotment of the shares will be done by September 1, 2025, and refunds will be made on September 2 and credits to investor demat accounts prior to the listing date.
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On the opening day itself, the Anlon IPO recorded a Grey Market Premium (GMP) of ₹6 per share, the market appetite being moderate and the listing gain being potentially 6% above the upper limit of the price band. Daily GMP trends indicate cautioned optimism, with the figures ranging from ₹0 to ₹18 in the pre-subscription period, with analysts warning investors against basing investment decisions purely on GMP.
Established in 2013 at Rajkot, Gujarat, Anlon Healthcare is a specialty chemicals producer committed to high-purity pharmaceutical intermediates and APIs, which are key ingredients for drugs, nutraceuticals, and personal care items. The financials of the company have exhibited strong growth, with top line revenue growing from ₹66.69 crore in FY24 to ₹120.46 crore in FY25 which is a 81% increase, while net profit doubled more than two times to ₹20.52 crore in the same period. This good momentum is supported by a decent EBITDA margin of 26.88%, RoNW of 25.51%, and an EPS of 5.15, which indicates fundamental strength before its listing.
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They cite the company's strong financial path and market standing as possible positives for investors. Anlon is the sole indigenous manufacturer of some advanced intermediates such as Loxoprofen Sodium in India, which provides it with a competitive advantage. Univest analysts point out the company's healthy FY25 growth in bottomline, prudent utilisation of IPO funds towards capacity addition, debt repayment, and working capital, and a well-diversified global clientele across more than 15 nations. But risks are there in the form of high client concentration, sole-dependence on one manufacturing facility, and risk of regulatory and operational uncertainties in the chemicals industry.
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Anlon Healthcare's IPO provides investors an entry into India’s growing specialty chemical segment, offering reasonable returns and strong fundamentals. The listing on September 3, 2025, will be closely watched, with the GMP signalling cautious optimism and pros and cons weighed by market experts, emphasising prudent research before application.
