Indegene IPO which aims to raise ₹1,841.76 crore, opened for subscription on May 6 and will close on May 8. The Indegene IPO is a combination of a fresh issue of 1.68 crore shares aggregating to ₹760 crores and an offer for sale of 2.39 crore shares aggregating to ₹1,081.76 crores.
Indegene IPO Subscription Status
As of 10:42 am on May 7, the Indegene IPO has been subscribed 2.32 times. The retail investor category has been oversubscribed 2.02 times, while the Non-Institutional Investors (NIIs) category has seen an oversubscription of 5.90 times. However, the Qualified Institutional Buyers (QIBs) category has only been subscribed 0.06 times. The employee category has been subscribed 1.77 times.
The IPO allocation structure reserves 19.85% of the shares for QIBs, 14.89% for NIIs, and 34.75% for Retail Investors. The company has also reserved around 2.96 lakh shares for the employee section at a discount of ₹30 to the issue price..
Indegene IPO GMP
The Grey Market Premium (GMP) for Indegene’s IPO currently stands at ₹255, indicating a 56% listing gain expected by the grey market. However, it’s crucial to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be considered as the sole factor behind the company’s performance upon listing.
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Indegene IPO Details
The price band for Indegene’s IPO is set at ₹430 to ₹452 per share, with a minimum lot size of 33 shares. The company plans to use the net proceeds from the offering for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes.
Prior to the IPO launch, Indegene secured ₹549 crores from anchor investors, including both domestic and foreign institutions such as Aditya Birla Sun Life Insurance, Bajaj Allianz Life Insurance, and Bharti Axa Life Insurance.
The allotment for the Indegene IPO is expected to be finalised on Thursday, May 9, with a tentative listing date fixed as Monday, May 13 on both the BSE and NSE.
About Indegene
Founded in 1998, Indegene provides digital services for the life sciences industry, assisting with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. The company offers services in four categories — enterprise commercial solutions, omnichannel activation, enterprise medical solutions, and enterprise clinical solutions and consultancy services.
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