Indegene IPO debuts today: Raised funds to be utilized for paying debt of material subsidiaries and company’s capital expenditure.
Indegene debuted at Rs 655, marking a 45% premium to its issue price on the National Stock Exchange. The company secured Rs 1,841.76 crore from investors through the offering of 40.7 million shares.
In the grey market, Indegene’s shares commanded a 61% premium over its issue price. The grey market serves as an unofficial platform for illicit trading of company stocks before their official listing. Investors monitor grey market premiums to gauge potential listing prices.
Indegene IPO priced between Rs 430 to Rs 452 crore range. Issue commenced on May 06, concluding on May 08.
Employee Reservation:
Indegene allocated 2,96,209 shares to employees at a Rs 30 discount per share compared to the issue price.
J.P. Morgan India, Kotak Mahindra Capital Company, Citigroup Global Markets India, and Nomura Financial Advisory and Securities (India) served as book-running lead managers. Link Intime India Private Ltd acted as the registrar for the issue.
About Indegene ipo :
Indegene provides digital services for the life sciences sector, aiding in drug development, regulatory submissions, clinical trials, pharmacovigilance, complaints management, and sales/marketing support.
The Carlyle and Nadathur Fareast-backed company raised Rs 549 crore via anchor book on May 3. Indegene shares debuted on May 13, opening at Rs 655, a 45% premium over the issue price of Rs 452. Despite this, debut gains fell short of grey market estimates, which anticipated a 68% premium. Grey market trading occurs unofficially before the subscription offer opens and continues until the listing day.
At the conclusion of the three-day subscription period, the Rs 1,841.76-crore public offer received a subscription of 69.91 times, with investors acquiring 201.81 crore equity shares compared to the 2.88 crore shares available. Non-institutional investors (high net worth individuals) led the subscriptions, oversubscribing the reserved portion by 55.07 times, followed by QIBs at 197.55 times. The retail investor segment was oversubscribed by 7.95 times.
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