Anlon Healthcare IPO
ClosedAlready have an account? Apply now
Schedule of Anlon Healthcare
| Issue open date | 26 Aug 2025 |
| Issue close date | 29 Aug 2025 |
| UPI mandate deadline | 29 Aug 2025 (5 PM) |
| Allotment finalization | 01 Sep 2025 |
| Refund initiation | 02 Sep 2025 |
| Share credit | 02 Sep 2025 |
| Listing date | 03 Sep 2025 |
| Mandate end date | 15 Sep 2025 |
| Lock-in end date for anchor investors (50%) | 01 Oct 2025 |
| Lock-in end date for anchor investors (remaining) | 30 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Anlon Healthcare
Anlon Healthcare, founded in 2013, is a pharmaceutical company based in Rajkot, Gujarat. The company began its manufacturing operations in 2017 and is engaged in the production of Active Pharmaceutical Ingredients (APIs), pharmaceutical intermediates, and nutraceutical compounds. With a focus on quality and compliance, the company operates a single manufacturing facility that is ISO 9001:2015, GMP, and WHO-GMP certified. Anlon Healthcare serves pharmaceutical companies across India and exports to select international markets.
Financials of Anlon Healthcare
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹121.03 crores |
| Fresh Issue | ₹121.03 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure for expansion | 30.71 (25.37%) |
| Repayment/pre-payment, in full or in part, of outstanding borrowings | 5.00 (4%) |
| Working capital requirements | 43.15 (35.65%) |
| General corporate purposes and miscellaneous | 42.17 (35%) |
Industry Overview
India’s pharmaceutical industry, the world’s third-largest by volume, has a market size of ₹47,410 crores (FY25) and is projected to grow at 10% CAGR to reach ₹73,270 crores by FY2030. The sector benefits from the global “China+1” strategy as international firms diversify API sourcing to mitigate geopolitical risks. However, the industry remains vulnerable with over 70% of API raw materials imported from China. The government is addressing this through the PLI scheme (₹6,940 crores outlay) and a ₹3,000 crore Bulk Drug Parks initiative to boost domestic manufacturing and reduce import dependency. India’s pharmaceutical exports reached ₹20,480 crores in FY25, marking 14% year-on-year growth, reinforcing the country’s position as a key global pharmaceutical supplier.
Peer comparison
| Company | Revenue (₹Cr) | EBITDA Margin | P/E Ratio |
| Anlon Healthcare | 120.29 | 26.88% | 23.57x |
| Kronox Lab Sciences | 483.67 | 32.70% | 26.18x |
| AMI Organics | 670.37 | 12.79% | 61.6x |
| Supriya Organics | 527.13 | 31.60% | 31.1x |
Strengths
- Diverse product portfolio with scalable business operations.
- Experienced promoters and a competent management team.
- High entry barriers due to strict approval standards.
- In-house testing ensures consistent quality and compliance.
- Emphasis on Quality, Environment, Health, and Safety (QEHS).
Risks
- High dependency on a single manufacturing unit in Rajkot, Gujarat.
- Revenue concentration from the top few pharmaceutical industry customers.
- Limited experience in complex pharma intermediates manufacturing.
- Heavy reliance on select suppliers from western India.
- Delay in regulatory approvals can halt operations and revenue.
Allotment Status for Anlon Healthcare
To check your allotment status – click here.
Subscription Figures for Anlon Healthcare
As per media reports (Link), the Grey Market Premium (GMP) of Anlon Healthcare is reported at ₹5 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on August 29, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 99.75 | 106.89 | 1.07x |
| NII | 19.95 | 211.61 | 10.61x |
| Retail | 13.30 | 628.57 | 47.26x |
| Total | 133.00 | 947.08 | 7.12x |