IPO GMP Today: Anlon Healthcare IPO Subscribed 2.42 Times, What Does GMP Indicate? Check Full Details

IPO GMP Today: Anlon Healthcare's initial public offering (IPO) is receiving a lukewarm response from investors. The Gujarat-headquartered chemical pharmaceutical company opened for subscription on Tuesday, August 26 and will conclude on Friday, August 29.

Anlon Healthcare IPO GMP (grey market premium) indicated a decent listing on the stock market. The IPO will be listed on BSE and NSE next week after the conclusion of the subscription. Here are all the details about Anlon Healthcare IPO subscription status on Thursday, August 28.

Anlon Healthcare Subscription

Anlon Healthcare subscription status stood at 2.42x. The public issue has been subscribed at 15.32 times in the retail category, 0.91 times in the QIB category (ex-anchor) and 1.30 times in the NII category by August 28. The IPO was subscribed by around 1.28 times in the NII category, according to Chittorgarh.com at 11:34 am. The issue was subscribed around 1.69 times on day 1 and by around 2.37 times on day 2 till 11 am.

Anlon Healthcare IPO GMP Today

Anlon Healthcare IPO latest GMP today (Grey Market Premium) stood at Rs 5, according to investorgain.com at 10:35 am. The stock is expected to be listed at a price of Rs 91 (including cap price and latest GMP). The stock's expected percentage gain or loss per share stood at 5.49%.

According to the website, Anlon Healthcare IPO GMP stood at lowest of Rs 0 and highest of Rs 5.

Anlon Healthcare IPO Lot Size

The company is planning to raise around Anlon Healthcare aims to raise Rs 121.01 crore. The stock is entirely a fresh issue of 1.33 crore. Anlon Healthcare IPO lot size is fixed at Rs 164 shares. The IPO's total issue size is 1,33,00,000 shares, which is equivalent to Rs 121.03 crore.

According to Chittorgarh.com, retail investors can bid for a minimum of 164 shares and more, equivalent to Rs 14,924. Retail investors can bid for a maximum of 13 lots (2,132 shares), equivalent to Rs 1,94,012. SHNIs can bid for a minimum of 13 lots and a maximum of 67 lots.

Anlon Healthcare IPO: Price Band

The company has fixed a price band of Rs 86 to Rs 91 per share with a face value of Rs 10 per share. Anlon Healthcare IPO allocation is fixed as 75% (maximum) to Qualified institutional buyers (QIBs), 10% (maximum) to retail investors and 15% (max) to NIIs.

Anlon Healthcare IPO: Should You Subscribe?

Anlon Healthcare has built a strong presence as a chemical manufacturing company. It has a strong presence in the pharmaceutical intermediates and APIs, manufactured in compliance with pharmacopoeia standards such as IP, BP, EP, JP, and USP.

"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," noted SMIFs Limited in its report.

Brokerage Swastika has maintained an 'Avoid' stance on Anlon Healthcare IPO due to its high valuation. "Looking at the latest financials, Valuation seems Fully priced. Hence, investors may consider avoiding this IPO."