| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹ 86 to ₹ 91 | 164 | 26th Aug, 2025 –29th Aug, 2025 | ₹121.00 Cr |
Anlon Healthcare Ltd
Anlon Healthcare Limited is a chemical manufacturer specialising in high-purity pharmaceutical intermediates and active pharmaceutical ingredients (APIs), which are key raw materials for formulations such as tablets, capsules, syrups, ointments, nutraceuticals, personal care products, and veterinary medicines. Its product portfolio covers pharma intermediates, APIs, nutraceutical ingredients, personal care actives, and veterinary APIs, manufactured in line with global pharmacopoeia standards (IP, BP, EP, JP, USP). The company is among the few Indian producers of Loxoprofen Sodium Dihydrate, a widely used API for pain and inflammation management, and has secured Drug Master File (DMF) approvals from ANVISA (Brazil), NMPA (China), and PMDA (Japan). It has filed 21 DMFs across the EU, Russia, Japan, South Korea, and other markets, with ongoing filings in the US and Europe for Ketoprofen and Dexketoprofen Trometamol. Its portfolio comprises 65 commercialised products, supported by 28 pipeline products at the pilot stage and 49 at the laboratory development stage. The company operates a modern manufacturing facility with an installed capacity of 400 MTPA, spread across two production blocks, supported by four in-house laboratories and advanced storage infrastructure. The facility, equipped with glass-lined and stainless-steel reactors up to 4 KL, is audited and approved by 33 global customers and regulatory agencies. It holds GMP, WHO-GMP, and ISO 9001:2015 certifications, along with foreign manufacturer accreditations from PMDA-Japan, ANVISA-Brazil, and NMPA-China, reinforcing its global compliance standards. In addition to core manufacturing, Anlon has recently forayed into custom manufacturing services for complex and novel compounds, offering tailored, high-purity solutions. Leveraging its expertise in impurity reduction, process optimisation, and regulatory filings, the company is strategically positioned to address both domestic and international demand, supported by a scalable product pipeline and strong regulatory approvals.
Objective of the Anlon Healthcare Ltd IPO
The net proceeds from the fresh issue will be used towards the following purposes:
- Funding capital expenditure requirements for proposed expansion;
- Repayment and / or pre-payment, in full or part, of outstanding borrowings availed by the company;
- General corporate purposes.
Rationale To Anlon Healthcare Ltd IPO
Diversified product portfolio driving scalable growth
The company is a chemical manufacturer engaged in the production of pharmaceutical intermediates and APIs, with all products manufactured in compliance with global pharmacopoeia standards, including IP, BP, EP, JP, and USP. A key differentiator is its position as one of the few domestic manufacturers of Loxoprofen Sodium Dihydrate, a widely used anti-inflammatory API, with regulatory approvals, which enables access to large international markets. Furthermore, the company has filed 21 DMFs across multiple geographies, including the EU, Russia, Japan, South Korea, and the Middle East, with additional filings in progress for Ketoprofen (USFDA) and Dexketoprofen Trometamol (Europe), underlining its increasing global regulatory footprint. In addition to its core manufacturing, the company has recently expanded into custom manufacturing services for complex and high-purity compounds, leveraging its domain expertise in impurity reduction and process optimisation to meet customer-specific requirements. The combination of a broad product basket, growing DMF filings, regulatory accreditations, and custom manufacturing capabilities provides a structural growth platform. With strong demand drivers such as increasing global API outsourcing, rising need for pain and inflammation management therapies, and regulatory acceptance across key markets, the company is strategically positioned to scale its operations in both domestic and export markets. The company’s product portfolio comprises 65 commercialised products, 28 products at the pilot stage, and 49 under laboratory testing, covering pharmaceutical intermediates, APIs, nutraceutical actives, personal care ingredients, and veterinary APIs. This diversified pipeline provides revenue visibility and ensures long-term growth through continuous product launches.
High entry and exit barriers due to long customer approval cycles and strict product standards
The company is a manufacturer of pharmaceutical intermediates and APIs. Its manufacturing process involves multi-step production and purification to ensure product quality, with operations subject to stringent domestic and international standards as well as the rigorous specifications of its customers. As part of the customer and regulatory approval process, the company is required to submit extensive documentation, such as DMFs detailing its manufacturing facility, processes, quality control measures, certifications, product specifications, and compliance standards. Following this, potential customers or their regulatory agencies conduct on-site inspections to evaluate adherence to GMP and QEHS standards. Any deviations identified must be addressed before approvals are granted. Any change in vendors requires significant time and costs due to regulatory filings and compliance, leading customers to prefer long-term continuity with existing suppliers. Hence, customer acquisition in this industry involves a lengthy approval cycle and a higher gestation period, given the stringent quality and regulatory requirements. The company’s manufacturing facility is subject to regular audits by domestic and multinational customers, external consultants, and regulatory agencies, ensuring adherence to global standards. With approvals from 33 customers and regulatory authorities and a strong compliance track record, evidenced by the fact that no orders have been cancelled post-audit, the company has established a position of reliability and trust. This extensive experience across authorities enhances its ability to secure repeat orders and long-term customer relationships, providing revenue stability and strengthening its competitive positioning in the API and intermediates market.
Valuation of Anlon Healthcare Ltd IPO
Anlon Healthcare Ltd offers a broad portfolio of 65 commercialised products, 28 at the pilot stage and 49 under laboratory testing, providing a strong base for sustained growth. This diverse product mix across pharmaceutical intermediates and APIs ensures business stability while enabling the company to capture new opportunities in different therapeutic segments. The company also faces long customer approval cycles and strict regulatory standards, making vendor changes costly and time-consuming. With its facility audited and approved by 33 customers and agencies and no cancellations to date, the company benefits from strong customer stickiness and repeat business. The company currently operates a 400 MTPA manufacturing facility in Rajkot, Gujarat, with additional leased land for storage. To cater to increasing demand, the company plans to set up a new manufacturing plant on its nearby freehold industrial land, adding 700 MTPA of capacity through an intermediate and API block. This expansion will nearly triple total capacity, enabling production of both existing and new pharma intermediates and APIs, strengthening growth prospects. On the financial front, the company has delivered healthy CAGR growth over FY23–25, with Revenue/EBITDA/PAT CAGR of 3.2%/61.1%/87.8%. Overall, the company is well-positioned to capitalise on its diversified product portfolio, strong regulatory approvals, and planned capacity expansion. The upcoming capacity addition is expected to drive future growth; however, sustained momentum will depend on successful execution and demand realisation. On the upper price band, the issue is valued at a P/E of 14.3x based on FY25 earnings, which seems fairly valued. We, thus, recommend a “SUBSCRIBE” rating for this issue.
What is the Anlon Healthcare Ltd IPO?
The initial public offer (IPO) of Anlon Healthcare Limited offers an early investment opportunity in Anlon Healthcare Ltd . A stock market investor can buy Anlon Healthcare Ltd IPO shares by applying in IPO before All Anlon Healthcare Ltd shares get listed at the stock exchanges. An investor could invest in Anlon Healthcare Ltd IPO for short term listing gain or a long term.
How to apply for the Anlon Healthcare Ltd IPO through StoxBox?
To apply for the Anlon Healthcare Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Anlon Healthcare Ltd IPO open?
Anlon Healthcare Ltd IPO is opening on 26th Aug 2025. Apply Now
What is the lot size of the Anlon Healthcare Ltd IPO?
The Lot Size of Anlon Healthcare Limited IPO is 164 equity shares. Login to your account now.
When is the Anlon Healthcare Ltd allotment date?
The allotment Date for Anlon Healthcare Ltd IPO is 26th Aug 2025. Login to your account now.
When is the Anlon Healthcare IPO listing date?
The listing Date for Anlon Healthcare Ltd IPO is 3rd Sep 2025. Login to your account now
What is the minimum investment required for the Anlon Healthcare Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,924. Login to your account now
What is the maximum investment allowed for the Anlon Healthcare Limited IPO?
In the Retail segment the maximum investment requirement is Rs. 1,94,012. Login to your account now
What are the risks associated with investing in the Anlon Healthcare Ltd IPO?
- The company is subject to stringent quality specifications and regular customer audits. Any non-compliance may lead to order cancellations, warranty claims, or reputational damage. In the past, the manufacturing facility was non-operational for a period of four months to address directions and recommendations from the Brazilian Health Regulatory Agency, highlighting the potential business disruption from regulatory actions.
- Any failure to maintain product quality or adhere to evolving quality standards could result in customer dissatisfaction, loss of business, and potential legal liabilities.
- The company faces competition from both domestic and multinational players. Any inability to compete effectively could lead to loss of customers and market share, adversely impacting its business, financial performance, and future growth prospects.
When will the Anlon Healthcare Ltd IPO shares be credited to my Demat account?
The Anlon Healthcare Ltd IPO be credited to the account on allotment date which is 2nd Aug 2025. Login to your account now
Where can I find the Anlon Healthcare Limited IPO prospectus?
The prospectus of Anlon Healthcare Limited IPO prospectus can be find on the website of SEBI, NSE and BSE
