Indegene IPO opens on May 6: From price band to listing, all you need to know

Indegene IPO: The initial public offering (IPO) of Indegene will open for subscription on Monday, May 6. The offer of the healthcare solutions provider company, which has set a price band of ₹430-₹452 per equity share, will close on May 8.

The bidding for anchor investors is on Friday, May 3.

Indegene's ₹1,841.76 crore IPO is a mix of fresh issuance of shares worth ₹760 crore and an offer for sale (OFS) component of shares worth ₹1,982 crore. The book build issue is proposed to be listed on BSE and NSE.

In the OFS, existing investors such as CA Dawn Investments (a Carlyle group entity), Vida Trustees (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 Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair will be selling their stakes.

The Bengaluru-based healthcare solutions provider will use a portion of the proceeds for repaying debts owed by its subsidiary, ILSL Holdings Inc. The funds will also be utilised to meet the capital expenditure requirements of another subsidiary, Indegene Inc. The remaining amount will be used for general corporate purposes.

The qualified institutional buyers (QIBs) quota has been fixed at 50%, whereas retail investors and non-institutional investors (NII) have been allocated 35% and 15%, respectively.

Indegene IPO: Key dates

• Indegene IPO date: May 6-May 8
• Price band: ₹430-₹452 per equity share
• lot size: ₹14,916 and in multiples after that
• Share allotment: May 9
• Refund and credit of shares to demat: May 10
• Indegene stock listing: May 13

Indegene IPO details

Founded in 1998, Indegene provides solutions to biopharmaceutical, medical devices companies, and emerging biotech with research and development (R&D), clinical trials, regulatory submissions, pharmacovigilance, omnichannel activation, complaints management, and sales and marketing. As of December 2023, it had 65 active clients.

In FY23, the company recorded revenue from operations of ₹2,306 crore, reflecting an increase of 38% against revenue of ₹1,665 crore in the last fiscal. The company's net profit also surged 64% to ₹266 crore in FY24 compared to ₹162 crore reported in the year-ago period.

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