06 Apr 2026
Deal: Trilegal advises on the successful listing of Anthem Biosciences
21 Jul 2025
21 Jul 2025
Trilegal advised on the initial public offering of equity shares by Anthem Biosciences Limited (“Anthem”) aggregating to ₹33.95 billion (“IPO”).
Trilegal represented Anthem along with the promoter and other selling shareholders in the IPO.
Anthem is an innovation-driven and technology-focused contract research, development and manufacturing organization (“CRDMO”) with fully integrated operations spanning across drug discovery, development and manufacturing. Anthem is also one of the youngest Indian CRDMO companies and the fastest Indian CRDMO to achieve a milestone of ₹10,000 million of revenue within 14 years of operations. The IPO is a pure offer for sale, provides a partial exit to investors such True North and Daavos Chemical Corporation.
The IPO was over-subscribed 63.86 times, recording the highest institutional subscription for a >₹1,000 crore IPO in 2025. Anthem listed with a strong debut, delivering a 27% premium on the bourses.
The syndicate of book running lead managers comprised JM Financial Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited.
The Trilegal team advising on the matter was led by Partner: Richa Choudhary; and supported by Counsel: Maitreya Rajurkar and Avanti Kale; Senior Associates: Sanya Chaudhari and Shivayana Balodia; and Associates: Anushri Maskara, Siddhant Mishra, and Anay Jain.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With more than 140 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,100 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024, India Deal Firm of the Year at the Asian Legal Business (ALB) India Law Awards in 2023, and Best Law Firm to Work by Vahura in 2022.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com
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