Anthem Biosciences Considers $400 Million IPO in India.

Anthem Biosciences Pvt., a contract drug researcher and manufacturer based in Bengaluru, India, is considering an initial public offering (IPO) in India that could raise around $400 million. The company, in which Indian private equity firm True North acquired a minority stake in 2021, may seek a valuation of $3 billion to $4 billion in the IPO. Anthem Biosciences is in the process of appointing advisers and aims to list in the fourth quarter of 2024 or early 2025. The IPO market in India has been strong this year, with about $4.8 billion raised so far. Anthem Biosciences, founded in 2007, has two sites near Bengaluru for drug research and manufacturing. [Extracted from the article]