Indegene raises ₹549 crore from anchor investors ahead of IPO

Healthcare tech firm Indegene Ltd on Friday said it has raised ₹549 crore from anchor investors ahead of its initial public offering (IPO).

The company has allotted 1.21 crore equity shares to 36 funds at ₹452 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.

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

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

The issue, with a price band of ₹430 to ₹452 per share, will open for public subscription on May 6 and conclude on May 8.

The company's IPO comprises a fresh issue of equity shares worth up to ₹760 crore and an Offer For Sale (OFS) of up to 2.34 crore equity shares, aggregating ₹1,082 crore at the higher end of the price band, by selling shareholders. This takes the total IPO size to 1,842 crore.

To know more and pre-apply for Indegene Ltd IPO, click here

The OFS would see the sale of shares by existing investors 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 SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair.

At present, Nadathur Fareast Pte Ltd is the biggest shareholder in Indegene with a 23.64% stake. CA Dawn Investments has a 20.42% stake, and Brighton Park Capital owns a 12% stake in the company.

Funds raised through the fresh issue would be used to pay the debt, fund capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, fund inorganic growth and general corporate purposes.

Indegene had raised $200 million from Carlyle Group and Brighton Park Capital in February 2021.

Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle.

Kotak Mahindra Capital, Citigroup Global Markets India, J P Morgan India, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the issue.

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