Overview of Anlon Healthcare IPO
Anlon Healthcare Limited, based in Rajkot, is
launching its mainboard IPO from August 26 to August 29, 2025. The
company specializes in manufacturing high-purity pharmaceutical intermediates
and APIs used in drugs, personal care, nutraceuticals, and animal health
products.
- Issue
Type: Bookbuilt IPO (fresh issue)
- Issue
Size: ₹121.03 crore (1.33 crore shares)
- Price
Band: ₹86–₹91 per share
- Lot
Size: 164 shares (₹14,924 per lot)
- Listing:
BSE & NSE on September 3, 2025 (tentative)
- Registrar:
KFin Technologies Pvt Ltd.
Subscription and Investor Response
- Subscription
Stats (Day 1):
The IPO was subscribed 1.69 times overall on the first day, with retail investors bidding for 8.98x of their reserved quota, showing robust interest. - GMP
Update:
The IPO is trading at a grey market premium (GMP) of ₹4–₹5, suggesting a 4%–5.5% expected listing gain above the upper band.
Financial Highlights
- Revenue
Growth: Up 81% YoY (₹66.69 cr in Mar 2024 to ₹120.46 cr in Mar
2025)
- Profit
After Tax (PAT): Up 112% YoY (₹9.66 cr to ₹20.52 cr)
- Key
Ratios:
- PE
Ratio: 17.67
- EPS:
₹5.15
- RoNW:
25.51%
- ROCE:
21.93%
- ROE:
40.45%
- EBITDA
Margin: 26.88%
- Price
to Book Value: 4.51
- Estimated
Market Capitalization: ₹483.68 crore.
Objectives of the IPO
Proceeds from the IPO will be used for:
- Capacity
expansion (₹30.7 crore)
- Working
capital (₹43 crore)
- Debt
reduction (₹5 crore)
- General
corporate purposes.
Anlon Healthcare Business & Risks
Business Model
Anlon Healthcare meets pharmacopoeia standards (IP, BP, EP,
JP, USP) and has international approvals for key APIs, boosting credibility in
pharmaceutical manufacturing.
Risk Factors
- Recent
revenue decline (FY24), though profit climbed
- High
competition in the API sector
- Reliance
on a single Rajkot facility
- 78%
revenue from top 10 clients—client diversification risk
- Elevated
financial leverage and relatively full valuations.
Should Investors Apply?
Most analysts have given neutral or cautious ratings:
- Positives:
Good margins, profit jump, robust subscription, expansion plans
- Negatives:
Revenue volatility, client concentration, high valuation
- The
IPO offers modest listing premium per GMP and decent business fundamentals
for portfolio diversification.
Important Dates & Quick Reference
|
Event |
Date/Detail |
|
IPO Open |
August 26, 2025 |
|
IPO Close |
August 29, 2025 |
|
Allotment Finalization |
September 1, 2025 |
|
Refund Initiation |
September 2, 2025 |
|
Listing Date |
September 3, 2025 (tentative) |
|
Lot Size |
164 shares |
|
Price Band |
₹86–₹91 per share |
|
Issue Size |
₹121.03 crore (1.33 crore shares) |
|
Registrar |
KFin Technologies Pvt Ltd |
|
GMP (Latest) |
₹4–₹5 |
|
Minimum Investment |
₹14,924 per lot |
Final Verdict
Anlon Healthcare IPO (August 2025) shows promise with solid
profits and margins, but comes with revenue volatility and concentration risks.
The modest GMP and strong retail response make it suitable for moderate-risk
investors seeking pharma sector exposure.
