Indegene Limited

About Indegene Limited  Incorporated in 1998, Indegene Limited is a digital-led commercialization service provider for the life sciences industry. It assists biopharmaceutical, emerging biotech, and medical device companies to develop products, launch them in the market, and drive sales more efficiently and modernly. The company covers all aspects, including commercial, medical, regulatory and R&D operations for these companies.  As of 31 December 2023, it had 65 active clients, including 20 of the largest biopharmaceutical companies in the world. It caters to them with the help of its operation hubs located across North America, Europe and Asia. It also has 5,181 full-time employees across ten countries and a delivery model that allows it to operate from where its clients are located.  The company uses AI-powered solutions and has developed tools and platforms which can be integrated with well-established third-party technology platforms used in the life sciences industry.  Between FY21 and FY23, it saw a CAGR rise of 33% in its revenue from operations and 21% in its profit. Between Q3 FY23 and Q3 FY24, its revenue from operations rose by 14% CAGR and its profit by 11%. Moreover, the operations expenditure in the life sciences industry is expected to grow at a CAGR of 6.5% from $156 to $201 billion between 2022 and 2026. This could benefit the company, as sales and marketing is the largest segment of life sciences operations expenditure.  Now, Indegene Limited is launching its initial public offer (IPO). The IPO will be a fresh issue as well as an offer for sale. The money raised from the fresh issue will be utilized to repay indebtedness for its subsidiaries, fund capital expenditure requirements and for general corporate purposes. Its shares will be listed on the NSE and BSE.  Here are key details about the Indegene Limited IPO:     Company Name  Indegene Limited Limited   Company Type  Private    Company Established On  1998   Indegene Limited IPO Opening Date  6th May 2024    Indegene Limited IPO Closing Date  8th May 2024   Indegene Limited IPO Allotment Status  9th May 2024    Credit of Shares to the Demat Account  10th May 2024   Indegene Limited IPO Listing Date  13th May 2024    Indegene Limited IPO Face Value  ₹2 per share   Indegene Limited IPO Lot Size  33 Shares    Indegene Limited IPO Issue Size  Approx ₹1,841 crore   Indegene Limited IPO to be Listed on  BSE, NSE    Indegene Limited IPO Price band  ₹430 – ₹452 per share        Financial snapshot     Particulars  FY21  FY22  FY23  Q3FY24    Revenue  ₹ 966 crore  ₹ 1,664 crore  ₹ 2,306 crore  ₹ 1,916 crore    Net Profit  ₹ 149 crore  ₹ 162 crore  ₹ 266 crore  ₹ 241 crore              Here’s a quick look at Indegene Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)  Strengths and opportunities   Domain expertise in healthcare with years of experience and 20% of its employees with healthcare-related educational backgrounds such as MD, MBBS, PhD, BDS, MPharm and BPharm degrees as of Q3 FY24, which allows it to cater to the needs of its clients.  Robust digital capabilities and incorporation of AI in areas of content management, safety and pharmacovigilance, regulatory intelligence and planning, customer data management and advanced analytics, clinical trials, and workflow management.  Track record of establishing long-standing client relationships with retention rates of 129%, 159%, and 122% in FY21, FY22, and FY23, respectively.  Global delivery model catering to customers from six operation hubs and 17 offices located across North America, Europe and Asia.  Record of creating value through acquisitions as it has acquired 13 companies since 2005, which helps it to expand the range of solutions it offers.   Risks and threats   Business and revenue models may be unfamiliar to prospective investors who might be more familiar with IT/ BPO service providers.  The company derives a majority of its revenues from its subsidiaries accounting for 79% from Indegene, Inc. and 13% from other subsidiaries as of Q3 FY24.  Faces competition from IT and BPO (Business Process Outsourcing) service providers, life sciences specialist organizations, digital engineering firms, contract research organizations (CROs), and product/platform organizations.  Had a voluntary attrition rate of 22% in FY23 and 15% in Q3 FY24, which could adversely affect its business if it is unable to attract and retain skilled professionals.  Exposed to counterparty credit risk as it has trade receivables of ₹638 crore as of 31 December 2023.  International operations expose it to complex management, legal, tax, economic, and forex risks with increasing competition.            Indegene Limited IPO details  | Indegene Limited IPO date  According to the offer document filed by the company with the SEBI, the Indegene IPO’s opening date – in other words, the Indegene IPO launch date – will be 6th May 2024. The Indegene IPO closing date is 8th May 2024. After this, investors will be updated about the allotment status on 9th May 2024.  Investors, who have been allotted shares, can expect them to be credited to their demat account on 10th May 2024. The Indegene IPO listing date is 13th May 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  | Indegene Limited IPO Price Band  The IPO is a fresh issue as well as an offer for sale. The Indegene IPO price band has been set between ₹430 and ₹452 per share. Interested investors can choose a price within this band to apply for the IPO.  The Indegene IPO listing price will be determined on 13th May 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.  | Indegene Limited IPO Lot size  The Indegene IPO details have been declared. The Indegene IPO lot size is set at 33 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Indegene IPO issue size is approx ₹1,841 crore.           How to pre-apply for the Indegene Limited IPO?  You can pre-apply for the Indegene Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.  Follow these steps to pre-apply for the IPO:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘Indegene Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Pre-Apply’  Accept the mandate on your UPI app            How to apply for the Indegene Limited IPO?  If you are interested in this investment opportunity but unsure how to apply for the Indegene Limited IPO, here we are listing out the steps for you.  When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Indegene Limited IPO on Upstox:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘Indegene Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Apply’  Accept the mandate on your UPI app            How to check the Indegene LimitedIPO allotment status?  When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.  Here’s a step-by-step guide on how to check the Indegene Limited IPO allotment status:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover page, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, you will find the ‘View all’ option  Once you click on ‘View all’, you will be directed to the ‘IPO’ tab  In the ‘IPO’ tab, click on ‘My applications’  In ‘My applications’, under the History section, your Indegene Limited IPO allotment status will be mentioned    Check Allotment Status           Open a demat account with Upstox to apply for the Indegene Limited IPO  To apply for the Indegene Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.  Here is a step-by-step guide on how to open a demat account with Upstox:   Click here to visit the demat account opening page on the Upstox website.  Enter your phone number and other essential details to begin opening a demat account.  Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  Complete the e-verification using the OTP sent to your registered mobile number.   This is all it takes to open a demat account with Upstox. Easy and quick, right?   Open Demat Account           Upstox – trading app to apply for the Indegene Limited IPO  Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.  You can apply for the Indegene Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.  In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.