Indegene Limited IPO Subscribed 7.41x On Day 2

On the second day of bidding, investors showed enormous interest in Indegene Limited’s IPO. The digital services provider Indegene Ltd plans to raise ₹1,841.76 crore from the IPO. The bidding will continue till May 08, 2024.

Indegene IPO offers 4,07,66,552 shares. 80,94,069 (19.85%) 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.

Day Wise Subscription

• On the 1st day of subscription, i.e. May 06, 2024, the IPO was subscribed 1.69x in total. QIBs subscribed 0.05x, NIIs 4.23x, and employees 1.39x, while retail investors subscribed 1.54x.
• On the second day of subscription, May 07, 2024, Indegene IPO witnessed a growth in subscription to 7.41x. This comprised QIB’s subscription of 5.45x, NIIs 18.40x, employee 3.35x and retail 3.90x.

Grey Market Premium

The shares of Indegene IPO were trading at a GMP of ₹230. With an upper price range of ₹452.00, Indegene IPO’s estimated listing price is ₹682 (cap price + today’s GMP). The expected percentage gain per share stands at 50.88%.

Indegene Business Overview

Indegene Ltd (IL) offers digitally led commercialisation services to the life sciences sector, helping biopharmaceutical, emerging biotech, and medical device companies with drug development and clinical trials, regulatory filings, pharmacovigilance and complaint handling, and product sales and marketing. With the help of its solutions, life sciences organisations can create goods, introduce them to the market, and increase sales throughout their life cycle in a way that is more contemporary, effective, and efficient.

During the 12 months that ended December 31, 2023, the company had 27 clients from whom it earned between US$1 million and US$10 million in revenues, five clients from whom it earned between US$10 million and US$25 million in revenues, and three clients from whom it earned more than US$25 million in revenues.

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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.