Anlon Healthcare IPO kicks-off today: Check brokerage reviews, latest GMP & more
Anlon Healthcare is selling its shares in the price band of Rs 86-91, applied for a minimum of 164 shares and its multiples to raise a total of Rs 121.03 crore between August 26-29.
- Aug 26, 2025,
- Updated Aug 26, 2025 9:39 AM IST
The initial public offering on Anlon Healthcare opens for bidding today, that is on Tuesday August 26 and the three-day bidding shall conclude on Friday, August 29. The healthcare company is selling its shares in the price band of 86-91 per shares and investors can apply for a minimum of 164 equity shares and its multiples thereafter.
The Rs 121.03 crore IPO of Anlon Healthcare is entirely a fresh share sale of 1.33 crore equity shares with a face value of Rs 10 each. The net proceeds from the issue shall be utilized towards funding the capex for proposed expansion; funding the working capital requirement; debt repayment fully or partially; and general corporate purposes.
Incorporated in 2013, Rajkot-based Anlon Healthcare is a chemical manufacturing player engaged in manufacturing of active pharmaceutical ingredients (APIs) and pharma intermediates. It manufactures high-purity pharmaceutical intermediates for API production and active pharmaceutical ingredients for formulations of medicines, nutraceuticals, personal care and animal health products.
Anlon Healthcare has reserved 75 per cent of the net issue for qualified institutional bidders, while non-institutional investors (NIIs) will get 15 per cent of the allocation. Retail investors will have only 10 per cent share allocated towards them. Ahead of its IPO, Anlon Healthcare was commanding a grey market premium of Rs 5 per share, suggesting 6 per cent gains for the investors.
Anlon Healthcare reported a net profit of Rs 20.52 crore with a revenue of Rs 120.46 crore for the financial year ended on March 31, 2025. The company clocked a net profit of Rs 9.66 crore with a revenue of Rs 66.69 crore for the year 2023-24. Anlon Healthcare shall command a market capitalization Rs 483.68 crore.
Interactive Financial Services is the book running lead manager of Anlon Healthcare IPO and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed at both BSE and NSE on September 3, 2025. Here's what host of brokerage firms say about the IPO of Anlon Healthcare:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term Anlon Healthcare has a comprehensive and diversified product portfolio, comprising more than 65 commercialized products, 28 products at the pilot stage, and 49 products undergoing lab testing and validation. it operates on a scalable business model that allows it to consistently expand its offerings and cater to evolving industry requirements, said Anand Rathi.
In addition, Anlon has built a well-established and growing customer base. The sector has high entry and exit barriers, primarily owing to the extensive customer approval timelines, stringent regulatory compliance requirements. It is valued at P/E of 19 times FY25 earnings, with EV/Ebitda of 16.7 times. We believe that the IPO is fully priced," it said with a 'subscribe for long-term' rating.
Swastika Investmart Rating: Avoid Anlon Healthcare focuses on manufacturing and marketing specialized APIs in line with global standards. It positions itself as the first producer of Loxoprofen and related formulations. In FY24, its revenue growth was impacted due to the registration process in Brazil. Its operations are dependent on a single facility located in Rajkot and Valuation seems fully priced, said Swastika Investmart with an 'avoid' rating.
Arihant Capital Markets Rating: Subscribe Anlon Healthcare is positioned to benefit from its diverse product portfolio, regulatory approvals and planned capacity expansion. While long customer approval cycles create high entry barriers and promote customer stickiness, they may also delay new client acquisition, said Arihant Capital.
"The upcoming capacity addition is expected to support future growth, though successful execution and demand realization will be key to sustaining momentum. The issue is valued at a P/E ratio of 24 times, based on annualized PAT of FY25 EPS of Rs 3.9. We are recommending a 'subscribe' rating for this issue," it added.
SMC Global Rating: Neutral Anlon Healthcare demonstrates strong growth potential backed by its diverse product portfolio, capacity expansion plans, and global regulatory approvals. Its strategies of enhancing wallet share, diversifying customers, and expanding into high-value products position it well to capture rising demand in APIs and intermediates, said SMC Global.
"While risks include high quality compliance requirements, limited operating history, and reliance on a single facility, its focus on efficiency, debt reduction, and sustainable practices enhances resilience. Investors may consider the issue for long-term value," it added.
Ventura Securities Rating: Subscribe Anlon’s strengths lie in its diverse portfolio, experienced management, and high entry barriers created by long approval cycles and strict quality standards. It is well positioned to expand and capture growth opportunities in the global pharmaceutical value chain due to robust in-house testing and focus on environment-health safety, said Ventura Securities.
"Going forward, the company aims to strengthen its international presence by expanding regulatory approvals and scaling its custom manufacturing capabilities. This strategic focus is expected to enhance long-term growth prospects and reinforce its position in the global API and intermediates market," it added with a 'subscribe' rating.
SMIFS Rating: Subscribe "We recommend subscribing to the issue, as the planned capacity expansion from 400 MTPA to 1,100 MTPA at Rajkot, Gujarat, is set to nearly triple scale, with revenue expected to double over the next 2-3 years, offering a compelling long term growth opportunity in the Indian pharmaceutical sector," said SMIFS.
The initial public offering on Anlon Healthcare opens for bidding today, that is on Tuesday August 26 and the three-day bidding shall conclude on Friday, August 29. The healthcare company is selling its shares in the price band of 86-91 per shares and investors can apply for a minimum of 164 equity shares and its multiples thereafter.
The Rs 121.03 crore IPO of Anlon Healthcare is entirely a fresh share sale of 1.33 crore equity shares with a face value of Rs 10 each. The net proceeds from the issue shall be utilized towards funding the capex for proposed expansion; funding the working capital requirement; debt repayment fully or partially; and general corporate purposes.
Incorporated in 2013, Rajkot-based Anlon Healthcare is a chemical manufacturing player engaged in manufacturing of active pharmaceutical ingredients (APIs) and pharma intermediates. It manufactures high-purity pharmaceutical intermediates for API production and active pharmaceutical ingredients for formulations of medicines, nutraceuticals, personal care and animal health products.
Anlon Healthcare has reserved 75 per cent of the net issue for qualified institutional bidders, while non-institutional investors (NIIs) will get 15 per cent of the allocation. Retail investors will have only 10 per cent share allocated towards them. Ahead of its IPO, Anlon Healthcare was commanding a grey market premium of Rs 5 per share, suggesting 6 per cent gains for the investors.
Anlon Healthcare reported a net profit of Rs 20.52 crore with a revenue of Rs 120.46 crore for the financial year ended on March 31, 2025. The company clocked a net profit of Rs 9.66 crore with a revenue of Rs 66.69 crore for the year 2023-24. Anlon Healthcare shall command a market capitalization Rs 483.68 crore.
Interactive Financial Services is the book running lead manager of Anlon Healthcare IPO and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed at both BSE and NSE on September 3, 2025. Here's what host of brokerage firms say about the IPO of Anlon Healthcare:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term Anlon Healthcare has a comprehensive and diversified product portfolio, comprising more than 65 commercialized products, 28 products at the pilot stage, and 49 products undergoing lab testing and validation. it operates on a scalable business model that allows it to consistently expand its offerings and cater to evolving industry requirements, said Anand Rathi.
In addition, Anlon has built a well-established and growing customer base. The sector has high entry and exit barriers, primarily owing to the extensive customer approval timelines, stringent regulatory compliance requirements. It is valued at P/E of 19 times FY25 earnings, with EV/Ebitda of 16.7 times. We believe that the IPO is fully priced," it said with a 'subscribe for long-term' rating.
Swastika Investmart Rating: Avoid Anlon Healthcare focuses on manufacturing and marketing specialized APIs in line with global standards. It positions itself as the first producer of Loxoprofen and related formulations. In FY24, its revenue growth was impacted due to the registration process in Brazil. Its operations are dependent on a single facility located in Rajkot and Valuation seems fully priced, said Swastika Investmart with an 'avoid' rating.
Arihant Capital Markets Rating: Subscribe Anlon Healthcare is positioned to benefit from its diverse product portfolio, regulatory approvals and planned capacity expansion. While long customer approval cycles create high entry barriers and promote customer stickiness, they may also delay new client acquisition, said Arihant Capital.
"The upcoming capacity addition is expected to support future growth, though successful execution and demand realization will be key to sustaining momentum. The issue is valued at a P/E ratio of 24 times, based on annualized PAT of FY25 EPS of Rs 3.9. We are recommending a 'subscribe' rating for this issue," it added.
SMC Global Rating: Neutral Anlon Healthcare demonstrates strong growth potential backed by its diverse product portfolio, capacity expansion plans, and global regulatory approvals. Its strategies of enhancing wallet share, diversifying customers, and expanding into high-value products position it well to capture rising demand in APIs and intermediates, said SMC Global.
"While risks include high quality compliance requirements, limited operating history, and reliance on a single facility, its focus on efficiency, debt reduction, and sustainable practices enhances resilience. Investors may consider the issue for long-term value," it added.
Ventura Securities Rating: Subscribe Anlon’s strengths lie in its diverse portfolio, experienced management, and high entry barriers created by long approval cycles and strict quality standards. It is well positioned to expand and capture growth opportunities in the global pharmaceutical value chain due to robust in-house testing and focus on environment-health safety, said Ventura Securities.
"Going forward, the company aims to strengthen its international presence by expanding regulatory approvals and scaling its custom manufacturing capabilities. This strategic focus is expected to enhance long-term growth prospects and reinforce its position in the global API and intermediates market," it added with a 'subscribe' rating.
SMIFS Rating: Subscribe "We recommend subscribing to the issue, as the planned capacity expansion from 400 MTPA to 1,100 MTPA at Rajkot, Gujarat, is set to nearly triple scale, with revenue expected to double over the next 2-3 years, offering a compelling long term growth opportunity in the Indian pharmaceutical sector," said SMIFS.