Anlon Healthcare Shares Open Flat At Listing After IPO

Anlon Healthcare Ltd. shares started flat in their stock market debut on Wednesday. Shares of the pharmaceutical manufacturing company opened at Rs 92 apiece on the NSE and Rs 91 on the BSE. The IPO price was Rs 91.

The IPO was a book-built issue worth Rs 121.03 crore. It was entirely a fresh issue of 1.33 crore equity shares. The mainboard IPO was open for subscription from Aug. 26 to Aug. 29.

The IPO was subscribed 7.12 times on the final day. Retail investors subscribed the issue 47.26 times. The Qualified Institutional Buyers (QIBs) subscribed their category 1.07 times, while the Non-Institutional Investors’ (NIIs) segment was booked 10.61 times.

Overall, the IPO received bids for 9,47,08,360 shares against 1,33,00,000 shares on offer.

Anlon Healthcare has proposed to use around Rs 30.72 crore of the raised funds for capital expenditure for expansion. Around Rs 5 crore is allocated for repayment or prepayment of secured borrowings. The company will use around Rs 43.15 crore to fund working capital needs. A portion of the proceeds will also be used for general corporate purposes.