Indegene IPO: Check price band, issue size, and other key details ahead of IPO launch

Indegene IPO: Healthcare solutions provider Indegene Ltd has taken a step further towards the execution of its initial public offering (IPO). The IPO price band has been fixed in a range of ₹430-452 per share of face value of ₹2 each.

With now just a week left for the Indegene IPO to hit the market, here are five important factors you should know about the public issue:

Indegene IPO issue size and price band

The Indegene IPO is set to open for subscription on Monday, May 6. Bidding will remain open for three days and the IPO subscription will close on Wednesday, May 8.

As mentioned earlier, the Indegene IPO price band has been fixed at ₹430 to ₹452 per equity share. The lot size, or the minimum bid amount, of the issue is 33 shares. This translates into a minimum application size of ₹14,916 for retail investors.

Indegene IPO issue size is around ₹1,841.76 crore. The offer comprises fresh issuance of shares worth ₹760 crore and offer-for-sale (OFS) of up to 2.39 crore equity shares.

The company has reserved 50% of the issue for qualified institutional buyers (QIBs), 35% for retail investors and 15% for high net worth individuals (HNIs).

Indegene IPO important dates

The Indegene IPO would be open for subscription during 6-8 May. The allocation to anchor investors would take place on Friday, May 3.

Indegene IPO share allotment status is likely to be finalised on Thursday, May 9. Successful bidders can expect the shares to be credited to their demat accounts by May 10.

The Indegene stock is likely to be listed on May 13 on both BSE and the National Stock Exchange of India (NSE).

Link Intime India Pvt Ltd is the registrar of the Indegene IPO. The book-running lead managers of the issue are Kotak Mahindra Capital Co. Ltd, Citigroup Global Markets India Pvt Ltd, JP Morgan India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd.

Objects of the issue

Indegene said that it plans to use net proceeds from the IPO for repayment/prepayment of indebtedness of one of its material subsidiaries ILSL Holdings Inc.

The company added that IPO proceeds would also be used for funding its capital expenditure requirements, general corporate purposes and inorganic growth.

About Indegene Ltd

Incorporated in 1998, Indegene Ltd helps biopharmaceutical, emerging biotech and medical device companies develop products, get them to the market, and grow their impact through the life cycle.

Indegene provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing support.

The company's services can be divided into following categories – enterprise commercial solutions, omnichannel activation, enterprise medical solutions and enterprise clinical solutions and consultancy services.

Indegene Ltd Financials

Indegene reported revenue of ₹2,364.10 crore in 2022-23 compared with ₹1,690.50 crore in 2021-22. Profit after tax (PAT) during FY23 stood at ₹266.10 crore as against PAT of ₹162.82 crore in FY22.

In FY24, for the nine-month period ended December 2023, revenue stood at ₹1,969.75 crore, while PAT was ₹241.90 crore.

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