Anlon Healthcare Limited is coming out with its Initial Public Offering (IPO). This IPO has generated significant interest among investors, given the company’s strong presence in the pharmaceutical intermediates and Active Pharmaceutical Ingredients (APIs) business. In this detailed Anlon Healthcare IPO Review, we will cover the IPO Date, Price, GMP, Issue Size, Competitive Strengths, Financials, P/E ratio comparison with peers, Grey Market Premium, and provide our analysis on whether investors should subscribe or avoid this IPO.
About Anlon Healthcare Ltd
Incorporated in 2013, Anlon Healthcare Limited is a chemical manufacturing company engaged in the production of Pharma Intermediates and APIs. The company manufactures high-purity intermediates and APIs that cater to pharmaceutical formulations, nutraceuticals, personal care, and animal health products.
Key highlights of its business:
- Over 65 commercialized products, 28 in pilot stage, and 49 in laboratory testing.
- Strong focus on custom manufacturing for complex chemicals with high purity standards.
- Holds 21 Drug Master File (DMF) approvals globally including ANVISA, NMPA, and PMDA.
- Has a team of 105 employees with 34 in R&D and quality control.
Competitive Strengths
- Strong Product Portfolio: Wide range of APIs and intermediates catering to multiple industries.
- Experienced Promoters & Management: Promoted by Punitkumar R. Rasadia, Meet Atulkumar Vachhani, and Mamata Punitkumar Rasadia.
- High Entry Barriers: Long customer approval cycles and strict product quality standards.
- Regulatory Approvals: Global recognition with multiple DMF filings.
- Focus on Quality & Safety: In-house quality control labs and focus on Environment, Health, and Safety (EHS).
Anlon Healthcare IPO Issue Details
- IPO Date: August 26, 2025 to August 29, 2025
- Listing Date: September 3, 2025 (Tentative)
- IPO Price Band: ₹86 to ₹91 per share
- Lot Size: 164 shares
- Issue Size: 1.33 crore shares aggregating up to ₹121.03 Crores
- Type: 100% Fresh Issue
- Listing at: BSE, NSE
- Lead Manager: Interactive Financial Services Ltd.
- Registrar: Kfin Technologies Ltd.
IPO Reservation:
- QIB: Not less than 75% of Net Issue
- NII: Not less than 15% of Net Issue
- Retail: Not more than 10% of Net Issue
Company Financials
| Period Ended | 31 Jan 2025 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Cr) | 160.96 | 128.00 | 111.55 | 84.97 |
| Total Income (₹ Cr) | 77.37 | 66.69 | 113.12 | 57.54 |
| PAT (₹ Cr) | 11.96 | 9.66 | 5.82 | -0.11 |
| Net Worth (₹ Cr) | 71.86 | 21.03 | 7.37 | 1.55 |
| Borrowings (₹ Cr) | 62.39 | 74.56 | 66.39 | 60.32 |
Key Ratios:
- ROCE: 21.93%
- RoNW: 25.21%
- PAT Margin: 17.06%
- Debt/Equity: 0.73
- Price to Book Value: 4.51
P/E Ratio Comparison with Peers
- Anlon Healthcare IPO P/E: 14.26x (Post Issue)
- Peer with Highest P/E: Divi’s Laboratories – ~42x
- Peer with Lowest P/E: Aurobindo Pharma – ~17x
- Industry Average P/E: ~28x
👉 The IPO is priced attractively compared to peers and below industry average.
Objects of the Issue
The company proposes to utilize the net proceeds for:
- Funding capital expenditure for expansion – ₹307.19 million
- Repayment/prepayment of certain borrowings – ₹50 crore
- Working capital requirements – ₹431.5 crore
- General corporate purposes
Grey Market Premium (GMP)
As of today, the Anlon Healthcare IPO GMP is around ₹20-25 per share, indicating positive investor sentiment. This translates to an estimated 20-25% listing gain over the issue price.
Reasons to Invest in Anlon Healthcare IPO
- Strong Financial Growth: PAT grew from ₹5.82 Cr (FY23) to ₹11.96 Cr (10M FY25).
- Attractive Valuation: P/E of 14.26x is below industry average.
- Diversified Product Portfolio: APIs and intermediates across multiple industries.
- Global Market Reach: Multiple DMF approvals and exports to regulated markets.
- Debt Reduction Plan: IPO proceeds to be used partly for loan repayment.
Risk Factors in the IPO
- Dependency on APIs & Intermediates: Business concentration risk.
- High Working Capital Requirement: Significant portion of IPO funds allocated here.
- Regulatory Risk: Business heavily dependent on global and domestic pharma regulations.
- Industry Cyclicality: Demand and pricing can fluctuate with pharma market cycles.
- Low Retail Quota: Only 10% reserved for retail investors.
How to Apply for Anlon Healthcare IPO?
Investors can apply via:
- ASBA (Bank Net Banking) through supported banks.
- UPI (Unified Payment Interface) via brokers and trading apps like Zerodha, Groww, Paytm Money.
Conclusion – Should You Invest in Anlon Healthcare IPO?
Anlon Healthcare IPO comes with a strong business model, robust financial growth, and attractive valuations compared to peers. While regulatory and industry risks remain, the company’s strong product portfolio and global presence provide a competitive edge. Considering the reasonable pricing and positive GMP, this IPO looks good for listing gains and medium to long-term investment.
Recommendation: Investors can SUBSCRIBE to the Anlon Healthcare IPO.
FAQs
1. What is the Anlon Healthcare IPO Date?
The IPO opens on August 26, 2025, and closes on August 29, 2025.
2. What is the Anlon Healthcare IPO Price Band?
The price band is ₹86 to ₹91 per share.
3. What is the Anlon Healthcare IPO Lot Size?
One lot consists of 164 shares. Minimum investment for retail investors is ₹14,924.
4. What is the Anlon Healthcare IPO GMP today?
Currently, GMP is around ₹20-25 per share.
5. What is the Anlon Healthcare IPO Listing Date?
Tentative listing date is September 3, 2025.
6. Is Anlon Healthcare IPO good or bad for investment?
It looks attractive due to strong growth, reasonable valuations, and positive GMP – good for listing gains and long-term holding.
7. How much is reserved for retail investors in Anlon Healthcare IPO?
Not more than 10% of the net issue.
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