Indegene IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 09, 2024NS Raghavan, an industrialist, and co-founder of Infosys, together with Carlyle, a private equity group that supports Indegene Ltd., have filed a preliminary paper for their IPO listing.
The bioscience technology business located in Bengaluru hopes to acquire Rs.950 crore through the new share offering.
According to the proposed prospectus of Indegene IPO, existing shareholders Carlyle, Singapore-based venture capital fund Genesis Alternative Ventures, Vida Trustees, Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair are among those considering selling a portion of their shareholding.
Read ahead to get the full Indegene IPO review and IPO details of the organization.
| Face Value | Rs 2 |
| Price Band | Rs 430 to Rs 452 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 33 Shares |
| Listing Date | May 13, 2024 |
| Offer for Sale | Rs 1,081.76 Crore |
| Fresh Issue | Rs 760.00 Crore |
| IPO Size | Rs 1,841.76 Crore |
| Tick Size | 1 |
Indegene IPO Overview
Indegene is a company focused on the global life sciences industry and has positioned itself at the intersection of healthcare and technology.
Recently the company went ahead and filed for the DRHP with the capital market regulator SEBI. The company is looking to mobilize Rs 3,200 Cr. from this initial sale of equity shares.
The company is planning to use the raised funds in clearing past liabilities and for infusing capital to support the inorganic growth of the company.
At the moment, only the DRHP has been filed, the company is yet to receive approval and share further information on the Indegene IPO.
Indegene IPO Important Dates
| Events | Date |
| IPO Opening Date | May 6, 2024 |
| IPO Closing Date | May 8, 2024 |
| Basis of Allotment Finalization | May 9, 2024 |
| Refunds Initiation | May 10, 2024 |
| Credit of Shares to Demat Account | May 10, 2024 |
| Share Listing Date | May 13, 2024 |
The important IPO dates consist of subscription dates, listing dates, allotment dates, refund dates, etc. These dates are usually made public once the company has received approval for its IPO from SEBI and has completed all the other procedures for issuing the public equity shares.
At present, the company is only at its first stage of IPO listing that is waiting to get the approval of the filed DRHP, does currently no Indegene IPO dates are available. However, publicized it will be presented in the table above.
Indegene IPO Price, Size, Share Offerings
| Face Value | Rs.2 |
| Price Band | Rs 430 to Rs 452 |
| Offer for Sale | Rs 1,081.76 Crore |
| Fresh Issue | Rs 760.00 Crore |
| IPO Size | Rs 1,841.76 Crore |
The Carlyle Group-backed Indegene is eying for a fundraising equivalent to Rs 3,200 Cr. In this, there is Rs 950 Cr. worth of fresh issue of equity shares. And the remaining will be offered for sale which will cumulatively equal 3,62,91,497 shares.
Apart from information on the Indegene IPO size there has been no disclosure on the lot size or the Indegene IPO price band.
We will have to wait for the company to officially announce its IPO dates before we get any information on the remaining data points
Indegene IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Disclosed | |||
Grey market premium or commonly known as GMP is an additional cost that gets tagged along with the price band of the IPO shares when they are traded in the grey market.
The higher the premium rate, the higher the demand for the shares. This means at the time it trade in the financial markets, there is a higher chance of earning profits from the change in price due to increase demand.
Many investors use this Indegene IPO GMP as an indicator of how the shares might end up performing in the market and what sentiments the market holds for the IPO.
Indegene IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 6th May | 0.05x | 4.25x | 1.56x | 1.41x | 1.70x |
| 2nd Day – 7th May | 5.45x | 18.44x | 3.94x | 3.40x | 7.44x |
| 3rd Day – 8th May | 192.72x | 55.91x | 7.86x | 6.62x | 70.30x |
| Shares Offered or Net Issue | 8,094,069 | 6,070,552 | 14,164,620 | 296,209 | 40,766,552 |
The IPO allows every class of investor to freely invest in the Initial Offering listing however in case there is any kind of oversubscription, access funds will either be refunded basis completely lies on the core management of the company.
The status of the Indegene IPO Subscription will upload here as the bidding begins for the IPO.
Indegene IPO Allotment Status
The allotment status is the space that notifies the prospective investors about their investment status in terms of several shares the company has officially recorded in their books under their names.
The same can be checked here once the IPO listing begins its subscription. However currently prospective open and close date of the listing is not available, therefore, you can click here to check the Indegene IPO Allotment once the IPO goes live.
As of now, the company has offered 75% of the shares to qualifies Institutional buyers, 15% to high-net-worth individuals, and 10% to retail investors.
Indegene IPO Live Performance
By monitoring the performance of the stocks, interested investors will get an idea of whether they want to invest in them or not.
If you also what to check the Indegene IPO performance status of the shares, click on the link here. It will also prove live updates on the Indegene IPO share price.
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Latest Indegene IPO News
Locate all the necessary Indegene IPO news here in this link. There will be information about the IPO approval, important dates, and necessary details regarding the IPO listing.
Indegene – Company Review
Indegene Ltd. was founded in 1998. It has its headquarters in India but does have back offices in Europe, New Jersey, and Princeton. Manish Gupta, the CEO of the company, and four other individuals formed it in the 90s.
At the time, “digital transformation” was not commonly used in business terms, at least not in the context of healthcare organizations.
Today it has many records of different acquisitions as the company looks to grow. In 2019, it acquired the digital transformation/CX consultant DT Associates, paying roughly $10 million for a minority investment.
In 2021, it purchased pricing and market-access business Medical Marketing Economics for about $10 million.
They are also actively looking out for internal management revision to make sure that each department is led by the best and that the company as a whole can reach bigger milestones
Products or Services
Their solution set covers every facet of a life sciences company’s commercial, medical, regulatory, and R&D requirements.
These solutions make it possible for businesses in the biopharmaceutical, nascent biotech, and medical device sectors to create goods, introduce them to consumers, and increase sales across each stage of their life cycles in a more effective, efficient, and innovative way.
Promoters and Holding
- Sanjay Suresh Parikh (Executive Director and Executive Vice President)
- Jairaj Manohar Purandare (Non-Executive Independent Director)
- Manish Gupta (Chairman, Executive Director, and the Chief Executive Office)
The entities who are acting as the book-running lead managers to the IPO listing are Citigroup Global Markets India, J P Morgan India, Kotak Mahindra Capital, and Nomura Financial Advisory and Securities (India).
Is Indegene good for Investment?
A total of 19 of the 20 top biopharmaceutical firms in the world by revenue have signed on as clients with Indegene Ltd. for the Financial Year 2021.
And for the Financial Years 2022, 2021, and 2020, these 19 clients have contributed more than 70.00% of the company’s total revenue from ongoing operations.
These stats showcase that the company is leading its industry and is one of the top companies aiding worldwide global life sciences companies.
With its upcoming Indegene IPO, it will be able to infuse more capital to help expand its operations on a larger scale.
Indegene Financial Statements
| Amount (in INR & Million) | ||||
| 30-Jun-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Assets | 14,268.90 | 13,534.69 | 5,960.43 | 6,002.47 |
| Revenue | 5,397.05 | 16,904.97 | 9,969.20 | 6,463.83 |
| Expense | 4,247.97 | 14,171.02 | 7,682.47 | 5,274.51 |
| Profit After Tax | 858.15 | 1,628.18 | 1,856.82 | 496.84 |
According to the financial statement provided before the Indegene IPO, the company’s revenues climbed by 72% to Rs. 8,645 million in the 2022 fiscal year over the previous fiscal year, with 27% of revenues coming from Europe and 66% from North America. More financial information is shared in the table.
| Earnings per Equity Share (in Million) | ||||
| 30-Jun-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic | 3.88 | 7.50 | 7.56 | (0.32) |
| Diluted | 3.86 | 7.46 | 7.01 | (0.32) |
Indegene IPO Review
The analysts and finance media note that if the Indegene IPO is successful, it will be the biggest enterprise tech/IT services IPO in the nation since TCS in 2004.
As only the DRHP has been filed, the investors are eagerly waiting for the proceedings to go further so that they can start speculating on the trading opportunities.
This Indegene IPO Review only contains the current details shared. As more information will be available, it will update here.
Indegene IPO Details
Here are few more details you need to know before investing in Indegene IPO –
Indegene IPO Issue Object
The Indegene has proposed diverse objectives for making the IPO offer and some of the objectives are:
-
Repayment/prepayment of indebtedness of one of our Subsidiaries, ILSL Holdings,
- Funding the capital expenditure requirements of our Company and our Material Subsidiary
-
Payment of consideration towards the acquisition of additional shares in DT Associates Limited by ILSL Holdings
- General corporate purposes and inorganic growth.
Indegene IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Domain expertise in healthcare
-
Robust digital capabilities and in-house developed technology portfolio
-
Track record of establishing long-standing client relationships
- Global delivery model
-
Experienced management and motivated talent pool supported by marquee investors
- Track record of creating value through acquisitions
Quantitative factors are:
| Basic EPS | Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 7.50 | 7.46 | 21.57 | 34.80 |
| 31-Mar-21 | 7.56 | 7.01 | 46.04 | – |
| Mar-20 | (0.32) | (0.32) | (6.02) | – |
Indegene IPO Lead Managers
Here are the list of Lead managers –
-
Kotak Mahindra Capital Company Limited
-
Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
-
Nomura Financial Advisory and Securities(India) Private Limited
Indegene IPO Registrar to offer
Check out the details of the registrar here –
Indegene IPO – Other Details
- Statutory Auditor – B S R & Co. LLP Chartered Accountants
- Legal Counsel to the Company -Cyril Amarchand Mangaldas
- Bankers to the Company – Kotak Mahindra Bank Limted, Citi bank, The Hongkong and Shanghai Banking Corporation Limited, India, HDFC Bank Limited, Barclays Bank PLC.
Indegene IPO Verdict by Stock Brokers
With experienced personnel leading the company and the Indegene IPO listing, there is no doubt that the company will do good in the upcoming financial years.
However, not many analysts are giving any input in this IPO, but since the industry is growing rapidly, there is a high chance that the investment will turn out to be fruitful.
Indegene IPO – Conclusion
Indenge Ltd. has many strengths when it comes to competing in the market. They have a global delivery model, giving them access to a bigger market, and have the right technology and domain expertise in the healthcare industry.
This enables the company to hold long-term client relations and cash in strong profits.
Despite these facts and figures, it is still up to the investor to conduct personal analysis and trend checks before making any hefty investment. Hope the Indegene IPO review and the news helped with the right amount of guidance.
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Indegene IPO Review FAQs
Check out the FAQs on Indegene IPO –
What is the Issue Size of Indegene IPO?
The Company is making an initial public offer of 40,746,891 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Indegene IPO?
The price band for this particular IPO ranges between Rs 430 to Rs 452. As far as the face value of the share is concerned, it is Rs.2 per share.
What is the Indegene IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 6, 2024, while the closing date is set at May 8, 2024.
What is the Indegene IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on May 9, 2024, refund initiation is on May 10, 2024, credit of shares is on May 10, 2024, and share listing date is on May 13, 2024.
What is the Indegene IPO Listing Date?
Shares of this company shall be listed in the exchanges on May 13, 2024. The date, when the listing would be done, is stagnant on May 13, 2024.
Who is the Registrar of Indegene IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Indegene IPO?
Here are the promoters of this IPO – PROFESSIONALLY MANAGED COMPANY. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Indegene IPO?
They have obtained the GMP of this IPO and it is Rs.NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Indegene IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Indegene Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 1628.18, 2021 is 1856.82, 2020 is 496.84 PAT from Jun 2022 is 858.15.
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