API maker Anlon Healthcare’ Rs.121-Cr SME IPO subscribed 3.8 times

Gujarat-based Anlon Healthcare 's initial public offering (IPO) was subscribed by 3.8 times on the NSE-SME platform. The IPO consists of a fresh issue of 1.33 crore equity shares to raise INR 121 crore at a price band range between INR 86 and INR 91 apiece.Retail Individual Investors (RIIs) led the bidding with 25.85 times subscription of their quota, followed by Non-Institutional Investors (NIIs), with 2.09 times subscription of their quota. The Qualified Institutional Buyers (QIBs) category was subscribed 1.01 times.The proceeds from the fresh issue will be used for capacity expansion and partial loan repayment.Founded in 2015, Anlon Healthcare is a manufacturer of pharmaceutical intermediates and active pharmaceutical ingredients (APIs), with 65+ commercial products, 28 in the pilot stage and 49 under lab testing.