Indegene Limited IPO Subscribed 1.69x On Day 1

The digital services provider Indegene Limited’s IPO opened for subscription on May 06, 2024, and will close on March 08, 2024. The IPO is a book-built issue of ₹1,841.76 crores. Indegene IPO is a combination of a fresh issue of 1.68 crore shares aggregating to ₹760.00 crore and an offer for sale of 2.39 crore shares aggregating to ₹1,081.76 crore. The company has set the price band for the IPO in the range of ₹430 to ₹452 per share. The minimum lot size for an application is 33 Shares.

Indegene IPO offers 4,07,66,552 shares in total. Of these, 80,94,069 (19.85%) will go to QIB, 60,70,552 (14.89%) to NII, 1,41,64,620 (34.75%) to RII, 2,96,209 (0.73%) to employees, and 1,21,41,102 (29.78%) to Anchor investors. 4,29,230 RIIs will receive a minimum of 33 shares, and 4,379 (sNII) and 8,759 (bNII) will receive a minimum of 462 shares. The minimum amount of investment required by retail investors is ₹14,916. The minimum lot size investment for sNII is 14 lots (462 shares), amounting to ₹208,824, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,014,288.

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The shares of Indegene IPO were trading at a GMP of ₹252. With an upper price range of 452.00, Indegene IPO’s estimated listing price is ₹704 (cap price + today’s GMP). The expected percentage gain per share stands at 55.75%.

Business Overview

Incorporated in 1998, Indegene Limited provides digital services for the life sciences industry. The company assists with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.

The company generates revenue through the below-mentioned services

• Enterprise Commercial Solutions
• Omnichannel Activation
• Enterprise Medical Solutions
• Enterprise Clinical Solutions and consultancy services

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.