Indegene IPO: Digital Services Provider Hits Market

Indegene IPO: Digital Services Provider Hits Market
Indegene IPO: Digital Services Provider Hits Market Image: Pixabay
Indegene IPO: Digital Services Provider Hits Market
Indegene IPO: Digital Services Provider Hits Market Image: Pixabay

Indegene IPO: Digital Services Provider Hits Market

Indegene IPO: Digital Services Provider Hits Market

Indegene IPO: Digital Services Provider Hits Market

Key Highlights:

  1. Subscription period: May 6 – May 8, offering price: ₹430 to ₹452 per share.
  2. IPO size: ₹1,841.76 crore with new issue and offer-for-sale components.
  3. Company objectives: Fund inorganic growth, corporate purposes, and debt repayment.

The subscription window for the Indegene Limited IPO opened on May 6, set to close on May 8. Investors eyeing the digital services provider, offering life sciences commercialization solutions, must delve into key insights from the draft red herring prospectus (DRHP) before committing.

The IPO, priced between ₹430 to ₹452 per share, has attracted 36 anchor investors contributing ₹548.77 crore at the upper price range. Retail investors must bid for a minimum of 33 shares, with multiples thereafter to participate.

Indegene’s IPO, a ₹1,841.76 crore book-built issue, comprises an offer to sell 2.39 crore shares valued at ₹1,081.76 crores and a new issue of 1.68 crore shares totaling ₹760.00 crores. The company plans to utilize proceeds for financing inorganic growth, corporate objectives, and debt repayment, among others.

Indegene emerges as a pivotal player in digitally enabled commercialization services for the life sciences sector, catering to biopharmaceutical and medical device firms. Despite uncertainties, the IPO garners considerable investor interest, evident from the +245 grey market premium, anticipating a listing at ₹697 per share, 54.2% higher than the IPO price.

source: EconomicTimes

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