Indegene IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Indegene Limited IPO GMP

The Indegene IPO, valued at Rs 1,841.76 crores, comprises a combination of a fresh issue of 1.68 crore shares worth Rs 760.00 crores and an offer for sale of 2.39 crore shares totaling Rs 1,081.76 crores. Opening for subscription on May 6, 2024, and closing on May 8, 2024, the allotment is set to be finalized on Thursday, May 9, 2024.

Scheduled to list on BSE and NSE on Monday, May 13, 2024, the IPO's price band is fixed at ₹430 to ₹452 per share, with a minimum lot size of 33 shares. Retail investors need a minimum investment of ₹14,916, while for sNII, it is 14 lots (462 shares), amounting to ₹208,824, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,014,288.

The book running lead managers include 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, with Link Intime India Private Ltd serving as the registrar for the issue.

The Offer comprises the Fresh Issue of 16,814,159 Equity Shares aggregating up to ₹7,600 million by Company and the Offer for Sale of up to 23,932,732 Equity Shares aggregating up to ₹1,0817.6 million by the Selling Shareholders.

Net Proceeds will be utilized towards

Repayment/prepayment of indebtedness of one of our Material Subsidiaries, ILSL Holdings, Inc.
Funding the capital expenditure requirements of our Company and one of our Material Subsidiaries, Indegene, Inc.
General corporate purposes and inorganic growth.

The company provides digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies, that assist them with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of their products.

It is critical for the business to regularly update information technology infrastructure and provision for a growing workforce. The company also continues to upgrade the infrastructure within its office premises to accommodate the growing talent pool.