Indegene Limited IPO: The initial public offering (IPO) of Indegene Limited opened for subscription on Monday, May 6, 2024. The issue will remain open for subscription for three days till Wednesday, May 8. The company plans to raise Rs 1,841.76 crore crore from the public issue.
The IPO of Indegene comprises a fresh issue of 16,814,159 equity shares aggregating up to Rs 760 crore and an offer for sale of 23,932,732 shares of worth Rs 1,081.76 crore.
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Indegene IPO Price Band
The public issue of Indegene will be available at the price band of Rs 430-452 per share.
Indegene IPO Lot Size
Indegene has fixed the lot size for the public issue of 33 shares.
Indegene IPO: Latest GMP Today Price
According to several websites that track grey market activities, shares of Indegene IPO are commanding a premium of Rs 240 to Rs 247. This translates into a GMP of around 53 per cent to 54.65 per cent.
Indegene IPO Allotment Date
The basis of allotment of shares is scheduled for Thursday, May 9, 2024, and the shares are likely to be credited to the demat account on Friday, May 10, 2024.
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Indegene IPO Listing Date
The shares of Indegene are scheduled to list on NSE and BSE on Monday, May 13, 2024.
Indegene IPO Registrar Details
Link Intime India Private Ltd is the registrar of Indegene IPO.
Indegene IPO book-running lead managers
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 are the book-running lead managers of the public issue.
Indegene IPO Subscribe or Not: Here what’s an expert said
Astha Jain, Research Analyst at Hem Securities Ltd spoke to ET NOW Swadesh in detail about the Indegene IPO and gave a ‘SUBSCRIBE’ tag for the public issue of the life sciences commercialization company.
She said that the company provides digital-led commercial services to the pharmaceutical industry. It provides services to the life science industry which includes big biopharmaceutical companies.
“Whether it is an emerging biotech company or the medical device industry, the company helps all these companies in drug development, then in clinical trials, etc,” the analyst said.
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Indegene IPO: Subscribe Or Not
Jain said that “we are giving a subscription rating because one of the main reasons is the valuation”. The kind of valuation they have done, according to me, they are fetching a post issue multiple of 31 times FVA 24 which seems reasonable to us and that is why we are expecting a good amount of listing gain here.
Indegene IPO Share Listing Prediction
“If you are interested, then you have to subscribe for good listing gain in its IPO and from both long-term perspectives. Here the perspective can be kept for one year or one and a half years,” Astha Jain said.
Regarding the working style of the company, she said, “The company is in the same business for 25 years. It is a big company with rich experience… the company has now achieved expertise in finding solutions to the problems that arise.”
