Indegene IPO: Check opening date, GMP, price band, other details

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Indegene Limited’s initial public offering (IPO) is set to open on May 6, 2024, with an aim to raise Rs 1,841.76 crore.

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The IPO of Indegene Limited is a combination of a fresh issue of 1.68 crore shares worth Rs 760 crore and an offer for sale of 2.39 crore shares worth Rs 1,081.76 crore.

The price band for the Indegene Limited IPO ranges between Rs 430 to Rs 452 per share. For individual investors, the smallest amount of shares one can apply for is 33 shares, which requires a minimum investment of Rs 14,916.

For Small Individual Investors (sNII), the minimum investment is 14 lots (462 shares), equaling Rs 2,08,824. For Big Individual Investors (bNII), the minimum investment is 68 lots (2,244 shares), totalling Rs 10,14,288.

The final allotment for Indegene IPO is expected to be completed by Thursday, May 9, 2024. The IPO will be listed on the BSE and NSE with a tentative listing date set for Monday, May 13, 2024.

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The book running lead managers for the Indegene IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JP Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd.

Link Intime India Private Ltd is the registrar for the issue.

Indegene Limited plans to use the IPO proceeds to repay/prepay debt for ILSL Holdings, Inc., fund capital expenditure needs for Indegene Inc, and support general corporate purposes and inorganic growth efforts.

The last Grey Market Premium (GMP) for the Indegene IPO is Rs 230, as of May 3, 2024, 02:23 PM. Considering the price band of Rs 452.00, the estimated listing price of Indegene IPO would be Rs 682 (price cap + today’s GMP). The anticipated percentage gain/loss per share is 50.88%.

Indegene Limited, founded in 1998, provides digital services to the life sciences industry, assisting in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.

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Indegene Limited’s revenue rose by 39.85% and profit after tax (PAT) increased by 63.43% from the financial year ending March 31, 2023, to March 31, 2022.