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Anlon Healthcare IPO 2025: All You Need to Know Before Investing
Anlon Healthcare Ltd is coming up with its IPO between August 26–29, 2025. With a fresh issue of ₹121 crore at a price band of ₹86–91, here are the key highlights investors must know.
Written by: SERNET Research Team
Table of Content
Anlon Healthcare Ltd
Anlon Healthcare Ltd was incorporated in the year 2013 and is into the manufacture of pharma intermediates and active pharma ingredients (APIs). These APIs are used extensively in formulation medicines, nutraceuticals, personal care products and also in animal health products. The company, in addition, also offers custom manufacturing for complex chemicals, and this has been a rapidly growing space in recent times.
The fresh funds will be used for funding the capex for proposed expansion, working capital needs and for repayment of debt. Anlon Healthcare Ltd was promoted by Punit Kumar Rasadia, Meet Vachhani, and Mamata Rasadia. The IPO will be lead-managed by Interactive Financial Services; while KFIN Technologies Ltd will be the IPO registrar. The company is headquartered at Rajkot in Gujarat.
Highlights Of The Ipo Issue Of Anlon Healthcare Ltd
Here are the key highlights of the public issue of Anlon Healthcare Ltd.
- The IPO of will be open from August 26th, 2025 to August 29th, 2025. It has a face value of ₹10 per share and IPO price band is set in range of ₹86 to ₹91 per share.
- The IPO of Anlon Healthcare Ltd will be entirely a fresh issue of shares with no offer for sale (OFS) component.
- The fresh portion of the IPO comprises the issue of 1,33,00,000 shares (133.00 lakh shares), which at the upper price band of ₹91 per share translates into ₹121.03 crore.
- As there is no OFS, the overall IPO will also comprise the fresh issue of 1,33,00,000 shares (133.00 lakh shares) worth ₹400.00 crore at upper band price of ₹91 per share.
Key Dates, Investor Allocation, And Lot Sizes
Here are the key dates pertaining to the IPO of Anlon Healthcare Ltd
| Event | Tentative Date |
| IPO Open Date | 26th August 2025 |
| IPO Close Date | 29th August 2025 |
| Basis of Allotment | 01st September 2025 |
| Initiation of Refunds to non-allottees | 02nd September 2025 |
| Credit of Shares to Demat | 02nd September 2025 |
| Listing Date on NSE and BSE | 03rd September 2025 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Category of Investors | Allocation of shares | % Share |
| Reservation for Employees | Nil Reservation | Nil Reservation |
| Anchor Allocation | Nil Allocation | Nil Allocation |
| QIB Shares Offered | 99,75,000 shares | 75.00% of total IPO size |
| NII (HNI) Shares Offered | 19,95,000 shares | 15.00% of total IPO size |
| Retail Shares Offered | 13,30,000 shares | 10.00% of total IPO size |
| Total Shares Offered | 1,33,00,000 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer is reduced proportionately, if applicable. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Anlon Healthcare Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 164 | ₹ 14,924 |
| Retail (Max) | 13 | 2,132 | ₹ 1,94,012 |
| S-HNI (Min) | 14 | 2,296 | ₹ 2,08,936 |
| S-HNI (Max) | 67 | 10,988 | ₹ 9,99,908 |
| B-HNI (Min) | 68 | 11,152 | ₹ 10,14,832 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 164 shares)
Financial Highlights Of Anlon Healthcare Ltd
The table captures the key financials of Anlon Healthcare Ltd for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
| Net Revenues (₹ in crore) | 120.29 | 66.58 | 112.88 |
| Sales Growth (%) | 80.65% | -41.01% | |
| Profit after Tax (₹ in crore) | 20.52 | 9.66 | 5.82 |
| PAT Margins (%) | 17.06% | 14.50% | 5.16% |
| Total Equity (₹ in crore) | 80.42 | 21.03 | 7.37 |
| Total Assets (₹ in crore) | 181.30 | 128.00 | 111.55 |
| Return on Equity (%) | 25.51% | 45.92% | 78.92% |
| Return on Assets (%) | 11.32% | 7.54% | 5.22% |
| Asset Turnover Ratio (X) | 0.66 | 0.52 | 1.01 |
| Earnings per share (₹) | 6.38 | 6.68 | 4.85 |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company sales have been static over the last 2 years, after a sharp fall in the previous year. However, the PAT margins have picked up sharply, although the ROE shows that profits have not kept pace with the equity expansion.
Valuation Metrics of the Anlon Healthcare Ltd IPO
At the current issue price of ₹91 per share, the valuation of the company is at a P/E ratio of 14.3X in terms of latest year EPS. This is reasonable if you look at the comparable players in the API segment. The company also brings some intangibles to the table. The company has a strong pipeline product catering to pharma, nutraceuticals, veterinary needs etc. It is also into outsourcing manufacture, which is an emerging profitable model in pharma. In this business, customer approval cycle stend to be long, so that acts as an entry barrier. While, the company may be small, it has the model and the financials in its favour.
Anlon Healthcare Ltd - Ipo Subscription Status On Day-1
As of 5.30 pm on 26th August 2025, out of the 133.00 lakh shares on offer in the IPO (excluding anchor portion), Anlon Healthcare Ltd saw bids for 224.72 lakh shares. This implies an overall subscription of 1.69X at a macro level. The granular break-up of subscriptions as of the close of Day-1 of the IPO of Anlon Healthcare Ltd was as under:
| Employees (N.A.) | QIBs (0.91X) | HNI / NII (0.71X) | Retail (8.99X) |
The subscriptions were led by the Retail Investors followed by the QIB investors and the HNI / NII investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category |
Subscription (times) |
Shares Offered |
Shares bid for |
Total Amount (₹ in Crore) |
| Anchor Investors | 1.00 | 0 | 0 | 0.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 0.91 | 9,975,000 | 9,089,208 | 82.71 |
| HNIs / NIIs | 0.71 | 1,995,000 | 1,420,240 | 12.92 |
| Retail Investors | 8.99 | 1,330,000 | 11,962,980 | 108.86 |
| Total | 1.69 | 13,300,000 | 22,472,428 | 204.50 |
Data Source: NSE / BSE (as of close of Day-1 of the IPO)
The IPO is open up to August 29, 2024, at which point we will know the final subscription status of the IPO.
Next Steps In The Anlon Healthcare Ltd IPO
Post the closure of the IPO subscription on 29th August 2025, the basis of allotment will be finalized on 01st September 2025 and the refunds will be initiated on 02nd September 2025. In addition, the demat credits are expected to also happen on 02nd September 2025 and the stock will list on 03rd September 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 02nd September 2025 under ISIN (INE0Y8W01017).
Anlon Healthcare Ltd - Ipo Subscription Status On Day-3
As of 7.30 pm on 29th August 2025, out of the 133.00 lakh shares on offer in the IPO (excluding anchor portion), Anlon Healthcare Ltd saw bids for 947.63 lakh shares. This implies an overall subscription of 7.13X at a macro level. The granular break-up of subscriptions as of the close of Day-3 of the IPO of Anlon Healthcare Ltd was as under:
| Employees (N.A.) | QIBs (1.07X) | HNI / NII (10.61X) | Retail (47.30X) |
The subscriptions were led by the Retail Investors followed by the HNI / NII investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that traction was only visible in HNI bids and not in QIB bids. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| InvestorCategory | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
| Anchor Investors | 1.00 | 0 | 0 | 0.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 1.07 | 99,75,000 | 1,06,89,028 | 97.27 |
| HNIs / NIIs | 10.61 | 19,95,000 | 2,11,61,412 | 192.57 |
| Retail Investors | 47.30 | 13,30,000 | 6,29,12,368 | 572.50 |
| Total | 7.13 | 1,33,00,000 | 9,47,62,808 | 862.34 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO was open up to August 29, 2025, and has closed for subscription as of close of trading on August 29, 2025. This is the final subscription tally for the IPO.
Next Steps In The Anlon Healthcare Ltd IPO
Post the closure of the IPO subscription on 29th August 2025, the basis of allotment will be finalized on 01st September 2025 and the refunds will be initiated on 02nd September 2025. In addition, the Demat credits are expected to also happen on 02nd September 2025 and the stock will list on 03rd September 2025 on the NSE and the BSE. The credits to the Demat account to the extent of shares allotted will happen by the close of 02nd September 2025 under ISIN (INE0Y8W01017).