Anlon Healthcare IPO

About the company

Anlon Healthcare is a chemical manufacturing company engaged in the manufacturing of pharma intermediates and active pharmaceutical ingredients (APIs). Its products serve as raw materials and key starting materials for manufacturing APIs and pharmaceutical formulations, including tablets, capsules, ointments, and syrups, as well as ingredients for nutraceuticals, personal care products, and animal health products. The company operates from a single manufacturing facility located in Rajkot, Gujarat. The facility comprises two separate manufacturing blocks for pharmaceutical intermediates and APIs with an aggregate installed production capacity of 400 MTPA, along with four in-house laboratories and storage facilities. The company’s product portfolio consists of 65 commercialised products, 28 products at the pilot stage, and 49 products at the laboratory testing/laboratory scale stage, totalling 142 products across various categories. This represents substantial growth from 83 total products in FY23 to 142 products in FY25. Its commercialised products include 22 pharmaceutical intermediates, 18 APIs, 20 nutraceutical APIs, 3 personal care products, and 2 animal health products. Key products span across therapeutic categories, including anti-inflammatory (NSAID), analgesic, antipyretic, antihistamine, antidepressant, antipsychotic, anticoagulant, and nutritional supplements. The company has received Drug Master File (DMF) approvals from major regulatory authorities, including the Brazilian Health Regulatory Agency (ANVISA) for loxoprofen sodium dihydrate, the National Medical Products Administration of China (NMPA) for loxoprofen sodium dihydrate, and the Pharmaceuticals and Medical Devices Agency of Japan (PMDA) for loxoprofen sodium dihydrate and loxoprofen acid. It has filed 21 DMFs with regulatory authorities across the European Union, Russia, Japan, South Korea, Iran, Jordan, and Pakistan. The company supplies products to both domestic and overseas markets, serving customers in over 15 countries. Their manufacturing facility has been audited and approved by 33 customers and their respective regulatory authorities. It manufactured and sold 338 MT of APIs and pharma intermediates in FY25 to 38 customers, compared to 153 MT to 39 customers in FY24 and 316 MT to 48 customers in FY23. Revenue concentration among the top 10 customers remains high at approximately 77-78% across the 3 fiscal years. The Indian pharmaceutical industry is ranked the 3rd largest globally by volume and is expected to grow at a CAGR of 10% during FY24-30, reaching INR 7,30,000 crore by FY30. The API market, representing approximately 35% of the pharmaceutical market, is expected to grow at a CAGR of 13.7%, while the nutraceutical market is projected to grow at a 10-12% CAGR over the next few years. Key demand drivers include an ageing population expected to touch 17.3 crore by 2026, higher per capita income improving affordability, increasing penetration of health insurance through Ayushman Bharat, and a sharp rise in lifestyle-related diseases such as diabetes and cardiovascular ailments. These industry dynamics present strong tailwinds for Anlon Healthcare. The company stands to gain from India’s growing role in global supply chains amid the “China+1” diversification strategy adopted by global pharma players, which is driving sourcing away from China toward Indian manufacturers. Further, rising demand in high-growth categories such as nutraceuticals (10–12% CAGR), veterinary APIs, and personal care APIs provides opportunities for diversification. Now, Anlon Healthcare Ltd is launching its initial public offering (IPO), which consists of a fresh issue worth up to ₹121.03 crore. The total issue size of the IPO is ₹121.03 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   26 Aug 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   29 Aug 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   01 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   02 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   02 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   03 Sept 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.