Indegene IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

IPO Details

Bidding Dates

06 May '24 - 08 May '24

Minimum Investment

₹14,916 / 1 Lots ( 33 Shares )

Price Range

₹430 - ₹452

Maximum Investment

₹193,908 / 13 Lots ( 429 Shares )

Retail Discount

Not Applicable

Issue Size

₹1,841.76 Cr

Investor category and sub category

Retail Individual Investors (RII) | Non-institutional Bidders (NIB) | Qualified Institutional Buyers (QIB) |

Indegene IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 6, 2024

IPO Closing Date

May 8, 2024

Basis of Allotment

May 9, 2024

Initiation of Refunds

May 10, 2024

Credit of Shares to Demat

May 10, 2024

Listing Date

May 13, 2024

Cut-off time for UPI mandate confirmation

May 8, 2024

Indegene IPO Subscription Details

Date	QIB	NII	Retail	EMP	Total
Day 1May 6, 2024	0.05x	4.25x	1.56x	1.41x	1.70x
Day 2May 7, 2024	5.45x	18.41x	3.91x	3.36x	7.42x

Indegene IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	5.45
Non-Institutional Buyers	18.41
Retail Investors	3.91
Employees	3.36
Total	7.42

About Indegene Limited

Indegene Limited specialises in digital-led commercialisation services tailored for the life sciences industry, including biopharmaceutical, emerging biotech, and medical device companies. Their comprehensive solutions cover various aspects of drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing. By blending over two decades of healthcare domain expertise with purpose-built technology, they empower life sciences companies to navigate their product lifecycle more effectively and efficiently.

Indegene has established strong client relationships with the top 20 bio-pharmaceutical companies globally, earning a significant portion of their revenue from them. Their solutions address the evolving needs of the industry, including talent shortages, margin pressures, and the demand for digital innovation. Positioned at the convergence of healthcare and technology, their offerings span across the commercialisation lifecycle, from marketing and sales to medical and R&D functions.

With a focus on delivering value and driving operational efficiencies, Indegene leverages AI-powered solutions and proprietary platforms to enhance productivity and quality while reducing reliance on manual intervention. Their commitment to innovation and client success positions them well to capitalise on the anticipated growth in life sciences operations expenditure, ensuring they remain at the forefront of industry transformation.

Industry Outlook:

The global life sciences industry, encompassing biopharmaceuticals and medical devices, is projected to witness robust growth. Sales are estimated to reach ₹163.5 trillion (US$2.1 trillion) by 2026, with biopharmaceuticals accounting for 69% of this figure. This growth is fueled by factors like the ageing population, increasing prevalence of chronic diseases, and ongoing discovery of new diseases.
Operations spending within the life sciences sector is expected to increase steadily, reaching ₹15.5 trillion (US$201 billion) by 2026. The spending split between biopharmaceuticals and medical devices segments is also evolving, with the medical devices segment showing increased contribution due to regulatory changes and technological advancements.

Indegene Limited IPO Details

Indegene Limited IPO Dates

Indegene Limited IPO is open from Monday, May 6, 2024, to Wednesday, May 8, 2024. The IPO will be listed on BSE, NSE.

Indegene Limited IPO Price Band

Indegene Limited is a book-built issue IPO. The price band is set at ₹430 to ₹452 per share.

Indegene Limited IPO Lot Size

The lot size for Indegene Limited’s IPO is 33 shares with a minimum investment of ₹14,916.

Indegene IPO Objectives

The company plans to allocate the net proceeds from the issue for the following purposes:

The company plans to allocate ₹3,913.35 million for settling the debt of ILSL Holdings, Inc., a significant subsidiary.
₹1,029.16 million will be allocated for covering the capital expenditure needs of both the Company and another major subsidiary, Indegene, Inc.
Remaining funds to be utilised for general corporate purposes and potential inorganic growth opportunities.

Peer Details

There are no listed companies in India and globally that engage in a business that is similar to that of Indegene Limited.

How to Check the Allotment Status of the Indegene Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Indegene Limited IPO

Registered office: Block G4, 3rd Floor, Manyata Embassy Business Park, Outer Ring Road, Nagawara, Bengaluru 560 045, Karnataka, India
Phone: +91 80 4674 4567/ +91 80 4644 7777
E-mail:compliance.officer@indegene.com

IPO Financials

Particulars	As at December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Revenue from Operation (in ₹ million)	19,166.11	23,061.33	16,646.09	9,662.74
Profit After Tax (PAT) (in ₹ million)	2,419.02	2,660.99	1,628.18	1,856.82
Cash and Cash Equivalents (in ₹ million)	1,199.44	735.85	5,062.79	1,333.62
Return on Net Worth (%)	18.23%	25.02%	21.57%	46.04%
Net borrowings (in ₹ million)	3,993.33	3,943.36	182.38	247.64
EBITDA (in ₹ million)	4,198.51	4,541.89	2,659.10	2,639.65

Know before investing

Strengths

Indegene Limited possesses deep domain expertise in the healthcare industry, enabling efficient modernisation and digitisation of life sciences commercialisation processes. With a team comprising individuals with healthcare-related educational backgrounds and extensive industry experience, Indegene leverages its knowledge to optimise sales, marketing, and regulatory processes, driving value for its clients.
Indegene has developed a suite of proprietary tools and platforms, including AI-based applications, to drive transformation across the R&D and commercialisation lifecycle of biopharmaceutical products and medical devices. With a dedicated team of technology experts, Indegene continues to innovate and adapt technologies such as Gen AI to enhance its solutions, ensuring efficiency, effectiveness, and quality in service delivery.
Indegene boasts long-standing relationships with marquee biopharmaceutical companies, including many of the world's largest by revenue. With high client retention rates and a focus on deepening existing relationships while tapping into cross-sell and up-sell opportunities, Indegene has established itself as a trusted partner in the industry.
With operations spanning six operation hubs and 17 offices across North America, Europe, and Asia, Indegene delivers end-to-end solutions to clients worldwide. Supported by experienced management personnel with extensive healthcare industry experience, Indegene leverages its global presence and diverse talent pool to provide specialised solutions tailored to regional markets while maintaining operational excellence.

Risks

As Indegene Limited focuses solely on the life sciences industry, its revenue streams are susceptible to shifts in industry dynamics such as outsourcing trends, healthcare reforms, and digitalisation pace. Changes in these trends, including internalisation of operations by clients or regulatory shifts impacting profitability, could lead to a decline in demand for Indegene's solutions.
A significant portion of Indegene's business comes from large clients, primarily located in North America and Europe. This concentration exposes the company to risks associated with client-specific factors and industry-wide trends. Any adverse developments impacting these key clients could affect Indegene's business and profitability.
Indegene operates in a highly regulated environment, subject to laws governing data protection, healthcare promotion, and regulatory requirements. Non-compliance with these regulations could result in legal liabilities, reputational damage, and financial consequences, posing a threat to the company's operations and financial health.
Indegene's reliance on leased premises for its operations introduces risks associated with lease renewals, early terminations, or unfavourable lease terms. Failure to renew leases or disruptions in occupancy could disrupt operations and incur additional costs, impacting the company's business continuity and financial stability.