Indegene Limited is gearing up for its initial public offering (IPO), slated to commence on May 6, 2024, with the objective of raising Rs 1,841.76 crore.
The IPO of Indegene Limited consists of a fresh issue of 1.68 crore shares valued at Rs 760 crore and an offer for sale of 2.39 crore shares worth Rs 1,081.76 crore.
Investors can subscribe to the Indegene Limited IPO within a price band ranging from Rs 430 to Rs 452 per share. For individual investors, the minimum application size is 33 shares, requiring an investment of at least Rs 14,916. Small Individual Investors (sNII) are required to invest in a minimum of 14 lots (462 shares), equivalent to Rs 2,08,824, while Big Individual Investors (bNII) must invest in a minimum of 68 lots (2,244 shares), amounting to Rs 10,14,288.
The final allotment for the Indegene IPO is anticipated to conclude by Thursday, May 9, 2024. The IPO is scheduled to be listed on the BSE and NSE, with a tentative listing date set for Monday, May 13, 2024.
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 are the book running lead managers for the Indegene IPO, while Link Intime India Private Ltd serves as the registrar for the issue.
The proceeds from the IPO are earmarked for several purposes, including repaying/prepaying debt for ILSL Holdings, Inc., funding capital expenditure needs for Indegene Inc, and supporting general corporate purposes and inorganic growth efforts.
As of May 3, 2024, the last Grey Market Premium (GMP) for the Indegene IPO stands at Rs 230, suggesting an estimated listing price of Rs 682 per share (price cap + today's GMP). The anticipated percentage gain/loss per share is approximately 50.88%.
Indegene Limited, established in 1998, specializes in providing digital services to the life sciences industry, aiding in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. The company witnessed a significant rise in revenue by 39.85% and profit after tax (PAT) by 63.43% from the financial year ending March 31, 2023, to March 31, 2022.
