May 4, 2023
New Delhi, India
Indegene IPO: An Overview
Indegene, a Bengaluru-based healthcare solutions provider, is gearing up for its initial public offering (IPO), aiming to raise around ₹1,841.76 crores. Here’s a breakdown of what investors need to know about the upcoming IPO:
IPO Details and Dates
The Indegene IPO is scheduled to hit the market on May 6 and will close on May 8. The price band for the IPO has been set at ₹420-₹452 per equity share. The IPO comprises a fresh issue of shares worth ₹760 crores and an offer for sale (OFS) component of shares worth ₹1,982 crore. The bidding for anchor investors took place on May 3.
Utilization of Funds
Indegene plans to utilize a portion of the proceeds from the IPO to repay debts owed by its subsidiary, ILSL Holdings Inc. Additionally, funds will be allocated for meeting the capital expenditure requirements of another subsidiary, Indegene Inc. The remaining amount will be used for general corporate purposes.
Allocation Quota
The IPO allocation quota has been divided as follows: Qualified Institutional Buyers (QIBs) – 50%, Retail Investors – 35%, and Non-Institutional Investors (NIIs) – 15%.
Key Dates to Remember
- IPO Date: May 6-May 8
- Price Band: ₹420-₹452 per equity share
- Lot Size: ₹14,916 and multiples thereafter
- Share Allotment: May 9
- Refund and Credit of Shares to Demat: May 10
- Indegene Stock Listing: May 13
Also Read: Britannia’s Q4 Report: Revenue Rises 3%, Net Profit Falls 3%; Dividend Declared
About Indegene
Established in 1998, Indegene provides solutions to biopharmaceutical, medical devices companies, and emerging biotech firms. Its services include research and development (R&D), clinical trials, regulatory submissions, pharmacovigilance, omnichannel activation, complaints management, and sales and marketing. The company boasts 65 active clients as of December 2023.
Financial Performance
In FY23, Indegene recorded revenue from operations of ₹2,306 crore, marking a significant increase of 38% compared to the previous fiscal year. The company’s net profit also witnessed a notable surge, jumping 64% to ₹266 crore in FY24 compared to ₹162 crore reported in the year-ago period.
As the IPO approaches, investors are eagerly awaiting the opportunity to participate in Indegene’s growth story and capitalize on its promising future prospects in the healthcare solutions sector.
Disclaimer:
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