Unlisted shares of Indegene Ltd are trading Rs 170 higher in the grey market, expecting a 37.61 per cent listing gain from the public issue
Indegene IPO To Open For Subscription On May 6: Indegene Ltd, which provides digital services for the life sciences industry, has fixed the price band for its Rs 1,842-crore initial public offering (IPO) at Rs 430-Rs 452 per equity share with a face value of Rs 2.
The Indegene IPO will be opened for public subscription on May 6 and will be closed on May 8. The share allotment will likely be finalised on May 9, while the listing will take place on May 13.
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The IPO comprises a fresh issue of 16.8 million shares, valued at Rs 760 crore, alongside an offer for sale (OFS) of 23.9 million shares, worth Rs 1,081.76 crore.
For investors, the minimum lot size for an application is 33 shares. The minimum amount of investment required by retail investors is Rs 14,916. The minimum lot size investment for small NII is 14 lots (462 shares), amounting to Rs 2,08,824, and for bNII, it is 68 lots (2,244 shares), amounting to Rs 10,14,288.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book-running lead managers of the Indegene IPO, while Link Intime India Private Ltd is the registrar for the issue.
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Indegene IPO GMP Today
According to market observers, unlisted shares of Indegene Ltd are trading Rs 170 higher in the grey market as compared with its issue price. The Rs 170 grey market premium or GMP means the grey market is expecting a 37.61 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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About Indegene Limited
Indegene Limited, which was founded in 1998, provides digital services for the life sciences industry. It assists with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.
The company offers services in four categories — enterprise commercial solutions, omnichannel activation, enterprise medical solutions, and enterprise clinical solutions & consultancy services.
Its revenue surged 39.85 per cent and its profit after tax (PAT) rose 63.43 per cent in the financial year 2022-23.
