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Synopsis : Indegene's IPO offers digital services for life sciences. Bidding opens May 6, 2024. Price: Rs 430-452. Shares listed on May 13.
Indegene's net profit stood at Rs 241.90 crore, with revenue reaching Rs 1,969.75 crore for the nine months ending December 31, 2023.
The IPO of Indegene Ltd will kick off on Monday, May 6, 2024, offering shares in the price range of Rs 430-452 each. Investors can bid for a minimum of 33 equity shares and multiples thereof until the bidding closes on Wednesday, May 8.
Since 1998, Indegene has been providing digital services to the life sciences industry, covering drug development, clinical trials, regulatory submissions, and more.
The IPO comprises a fresh share sale of Rs 760 crore and an offer-for-sale of up to 2,39,32,732 equity shares by promoters and existing shareholders. The company has set aside shares worth Rs 12.5 crore for eligible employees, offering a discount of Rs 30 per share. It aims to raise Rs 1,842 crore through the IPO.
Proceeds from the IPO will be utilized for debt repayment, capital expenditure, and general corporate purposes, including inorganic growth. The anchor book for the issue opens on Friday, May 3.
DT Associates, an Indegene subsidiary, provides consulting services under the 'DT Consulting' brand, catering to digital transformation in life sciences.
The company has allocated 50% of the net offer to qualified institutional bidders (QIBs), with 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India) are the book running lead managers, while Link Intime India is the registrar. Shares will be listed on both BSE and NSE on May 13.
