Indegene IPO opens on May 6: Five things to know before subscribing to ₹1,842 crore issue
Upstox
2 min read • Updated: May 3, 2024, 11:22 AM
Summary
Indegene IPO consists of a fresh issue of equity shares up to ₹760 crore and an offer for sale (OFS) component of 2.34 crore shares worth ₹1,982 crore.
Indegene IPO: Healthcare tech firm Indegene is coming up with its ₹1,842 crore initial public offering (IPO) on May 6. The offer, which will close for public subscription on May 8, has fixed the price band of ₹430-₹452 per equity share.
The bidding for anchor investors will open for one day on May 3.
Indegene IPO details
The initial share-sale offer consists of a fresh issue of equity shares up to ₹760 crore and an offer for sale (OFS) component of 2.34 crore shares worth ₹1,982 crore.
In the OFS, existing investors such as CA Dawn Investments, a Carlyle group entity; Vida Trustees in its capacity as a partner of Group Life Spring; Brighton Park Capital's entities BPC Genesis Fund I-A SPV Ltd and BPC Genesis Fund I SPV Ltd; and individual investors Rajesh Bhaskaran Nair, Manish Gupta, and Anita Nair will offload their stake.
Nadathur Fareast Pte Ltd owns a 23.64% stake in Indegene, followed by CA Dawn Investments with 20.42% and Brighton Park Capital with 12%.
The funds generated for the issue will be utilised to pay the debt, fund capital expenditure requirements, payment of deferred consideration for a past acquisition, fund inorganic growth and general corporate purposes.
Indegene IPO: Important things to know
- Indegene IPO date: May 6-May 8
- Price band: ₹430-₹452 per equity share
- Indegene IPO lot size: ₹14,916
- Indegene IPO share allotment: May 9
- Indegene stock listing: May 13
The book-running lead managers for the issue are Citigroup Global Markets India, Kotak Mahindra Capital, Nomura Financial Advisory and Securities (India) and JP Morgan India.
About Indegene
Indegene Limited offers research and development (R&D) and management services to healthcare and pharmaceutical enterprises. Its services include enterprise commercial solutions, medical solutions, omnichannel activation, and enterprise clinical solutions and consultancy services.
The company’s revenue for financial year (FY) 2022-23 stood at ₹2,364.10 crore as against ₹1,690.50 crore in FY22. It had reported net profit of ₹266.10 crore in FY23 compared to ₹162.82 crore in the year-ago period.
Indegene’s revenue for the nine-month period ended December 2023 was ₹1,969.75 crore, while net profit was ₹241.90 crore.