Indegene Limited’s IPO includes a fresh issue of 1.68 crore shares valued at Rs 760 crore and an offer for sale of 2.39 crore shares valued at Rs 1,081.76 crore.
Briefly, Indegene Limited’s Initial public offering commences on May 6, 2024, with a price band set at Rs 430 to Rs 452 per share, and final allotment anticipated by May 9, 2024.
Indegene Limited IPO Details and Timeline
Indegene Limited’s IPO is scheduled to open on May 6, 2024, aiming to raise Rs 1,841.76 crore through a combination of a fresh issue of 1.68 crore shares valued at Rs 760 crore and an offer for sale of 2.39 crore shares valued at Rs 1,081.76 crore.
The price range for the Indegene Limited IPO is Rs 430 to Rs 452 per share. Individual investors can apply for a minimum of 33 shares, necessitating a Rs 14,916 investment.
Small Individual Investors (sNII) must invest in a minimum of 14 lots (462 shares), totaling Rs 2,08,824. Big Individual Investors (bNII) must invest in a minimum of 68 lots (2,244 shares), totaling Rs 10,14,288. The final allotment for the Indegene Initial public offering is anticipated to be finalized by Thursday, May 9, 2024. The IPO is slated to be listed on both the BSE and NSE, with a tentative listing date scheduled for Monday, May 13, 2024.
Indegene IPO Financial Management and Market Outlook
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JP Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd serve as the book running lead managers for the Indegene Initial public offering, with Link Intime India Private Ltd acting as the registrar for the issue.
Indegene Limited intends to utilize the IPO proceeds to repay/prepay debt for ILSL Holdings, Inc., fund capital expenditure needs for Indegene Inc, and support general corporate purposes and inorganic growth initiatives. The latest Grey Market Premium (GMP) for the Indegene Initial public offering stands at Rs 230, as of May 3, 2024, 02:23 PM. With a price band of Rs 452.00, the estimated listing price of Indegene IPO would be Rs 682 (price cap + today’s GMP), reflecting an anticipated percentage gain/loss per share of 50.88%.
Established in 1998, Indegene Limited offers digital services to the life sciences sector, aiding in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. Indegene Limited witnessed a 39.85% revenue growth and a 63.43% increase in profit after tax (PAT) from the fiscal year ending March 31, 2023, to March 31, 2022.
You might also be interested in – Swiggy reports a $200 million loss amid IPO preparations
