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Indegene IPO price band has been fixed in the range of ₹430 to ₹452 per equity share of the face value of ₹2. The Indegene IPO date of subscription is scheduled for Monday, May 6, and will close on Wednesday, May 8. The allocation to anchor investors for the Indegene IPO is scheduled to take place on Friday, May 3.
The floor price and the cap price are 215 times and 226 times the face value of the equity shares respectively. The price to earnings ratio based on diluted EPS for fiscal 2023 at the floor price is 35.92 times and the cap price is 37.76 times. The Indegene IPO lot size is 33 equity shares and in multiples of 33 equity shares thereafter.
Indegene IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹30 per equity share is being offered to eligible employees bidding in the employee reservation portion.
Tentatively, Indegene IPO basis of allotment of shares will be finalised on Thursday, May 9, and the company will initiate refunds on Friday, May 10, while the shares will be credited to the demat account of allottees on the same day following refund. Indegene share price is likely to be listed on BSE and NSE on Monday, May 13.
In the life sciences sector, the company offers digitally led commercialisation services that help biopharmaceutical, emerging biotech, and medical device companies with drug development and clinical trials, regulatory filings, pharmacovigilance and complaint handling, and product sales and marketing. Our solutions give life sciences organisations the ability to create products more effectively, efficiently, and modernly, and to drive sales through their life cycle when they are introduced to the market.
Having earned more than 69.00% of the total revenue from operations for each of the nine months ended December 31, 2023 and 2022 as well as the Financial Years 2023, 2022, and 2021 from these 20 customers, the company has established client relationships with each of the 20 largest biopharmaceutical companies in the world by revenue for the Financial Year 2023, according to Everest Report.
As per company's red herring prospectus (RHP), There are no listed companies in India and globally that are of comparable size, from the same industry and with similar business model as that of the company.
Indegene IPO, which is worth ₹1,841.76 crore, comprises a fresh issue of ₹760 crore, and an offer-for-sale (OFS) of 23,932,732 equity shares by the investor selling shareholder.
The selling holders are Manish Gupta (up to 1,118,596 equity shares), Dr. Rajesh Bhaskaran Nair (up to 3,233,818 equity shares), Anita Nair (up to 1,151,454 equity shares), Vida Trustees Private Limited (up to 3,600,000 equity shares), BPC Genesis Fund I SPV (up to 2,657,687 equity share), Ltd, BPC Genesis Fund I-A SPV (up to 1,378,527 equity shares), Ltd, and CA Dawn Investments (up to 10,792,650 equity shares).
The company intends to use the net proceeds to finance the following goals: general corporate purposes, inorganic growth, funding for capital expenditure requirements of our company and one of our Material Subsidiaries, Indegene, Inc.; repayment/prepayment of indebtedness of ILSL Holdings, Inc.
The book running lead managers of the Indigene IPO are 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. The registrar for the issue is Link Intime India Private Ltd.
Indegene IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹452 with no premium or discount in the grey market.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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