Indegene IPO: Issue 100% booked on Day 1, NIIs & retail investors lead

Indegene IPO subscription status: The ₹1,842 crore initial public offering (IPO) of healthcare tech firm Indegene Limited, which is live from May 6 to May 8, has been fully subscribed on the first day, as per BSE data.

Indegene IPO fully subscribed

Indegene IPO, which has set a price band of ₹430 to ₹452 per share, has received bids for 3,72,98,580 equity shares, 1.29 times the 2,88,66,677 shares on offer. As of 4 pm, the non-institutional investors (NIIs) quota has been subscribed 2.85 times, while the retail individual investors (RIIs) portion was booked 1.32 times. The portion reserved for employees has also been subscribed 1.06 times.

Meanwhile, the QIB portion has only been subscribed 0.03 times.

On Friday, the company had allotted 1.21 crore shares to 36 funds at ₹452 apiece, raising ₹549 crore from anchor investors.

The anchor book saw participation from various investors, including Capital Group, Jupiter Asset Management, Fidelity Investments, Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund, SBI Mutual Fund, Bajaj Allianz Life Insurance Company, DSP Mutual Fund, Premji Invest, Nippon India Mutual Fund, UTI Mutual Fund, Edelweiss Mutual Fund and Aditya Birla Sun Life Insurance Company.

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The initial share sale is a combination of fresh issuance of shares worth ₹760 crore and an offer for sale (OFS) component of 2.34 crore shares, amounting to ₹1,082 crore at the higher end of the price band, by selling shareholders.

Under the OFS, existing investors like CA Dawn Investments, which is a Carlyle group entity, Vida Trustees, a partner of Group Life Spring, Brighton Park Capital's entities BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd will offload their stakes.

Individual investors Anita Nair, Manish Gupta and Rajesh Bhaskaran Nair will also sell their stakes.

The company intends to use the funds generated to repay debt, fund capital expenditure requirements and general corporate purposes, among other things.

Indegene provides solutions for biopharmaceutical, emerging biotech, and medical device companies to develop, launch, and drive product sales throughout their life cycle. The company was founded in 1998.

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