Indegene IPO opens today: What to know before subscribing to ₹1,842 crore issue
Upstox
3 min read • Updated: May 6, 2024, 10:42 AM
Summary
Indegene IPO opens today: The ₹1,841.76 crore IPO, which is a mix of fresh shares worth ₹760 crore and an offer for sale (OFS) component of 2.39 crore equity shares, is set to be listed on both BSE and NSE.
Indegene IPO opens today: Indegene, a healthcare solutions provider, will launch its initial public offering (IPO) on Monday, May 6. The company has set a price band of ₹430-₹452 per equity share. The initial share sale will close on May 8.
The ₹1,841.76 crore IPO, which is a mix of fresh shares worth ₹760 crore and an offer for sale (OFS) component of 2.39 crore equity shares, is set to be listed on both – the BSE and the National Stock Exchange (NSE).
Existing investors like 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 SPV Ltd and BPC Genesis Fund I-A SPV Ltd, and individual investors such as Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair will be offloading their stakes in the OFS.
To know more and apply for Indegene IPO, click here
Indegene raises ₹549 crore from anchor investors
The healthcare solutions provider raised ₹549 crore from anchor investors on Friday. The Bengaluru-based company has allotted 1.21 crore shares to 36 funds at ₹452 a unit, at the upper price band.
Financial services companies like Capital Group, Fidelity Investments, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI Mutual Fund, ICICI Prudential Mutual Fund, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund, DSP Mutual Fund, Premji Invest, UTI Mutual Fund, Edelweiss Mutual Fund, and Aditya Birla Sun Life Insurance Company participated in the anchor round.
The funds raised from the issue will be used to repay debts owed by ILSL Holdings Inc, a subsidiary of Indegene, to meet the capital expenditure of another subsidiary and for general corporate purposes.
Indegene IPO: Important dates
- Indegene IPO date: 6 May-8 May
- Price band: ₹430-₹452 per share
- Indegene lot size: 33 shares
- Minimum amount: ₹14,916 and in multiples after that
- Share allotment date: 9 May
- Refund and credit of shares to demat: 10 May
- Indegene stock listing: 13 May
Indegene IPO details
Indegene, which was established in 1998, provides solutions to biopharmaceutical, medical device firms, and emerging biotech. These services include research and development (R&D), clinical trials, pharmacovigilance, omnichannel activation, regulatory submissions, complaints management, sales and marketing.
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.