Indegene IPO is in the business of providing digital services for the life sciences industry. The company assist in various things for life science companies like drug development, clinical trials, regulatory submissions, complaints management, sales/marketing support, and pharmacovigilance.
Here are 10 things to know about Indegene IPO
Issue Size
Indegene will be raising a total of Rs 1,841.76 crore through a combination of fresh issue and offer for sale.
Subscription date
The company’s IPO will open on May 06 and close on May 08.
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Allotment
The shares of the company are expected to be finalised by May 09, which can be checked on the registrar’s website.
Registrar
Indegene chose Link Intime India as the registrar for the issue.
Listing
The issue is expected to hit both the bourses – BSE and NSE – on May 13.
Price Band
Indegene has set the price band between Rs 430 to Rs 452 per equity share, with a minimum lot size of 33 shares aggregating to Rs 14,916.
Employee Reservation
The company has secured up to 296,209 shares for employees at a discount of Rs 30 to the issue price.
BRLM
Kotak Mahindra, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory & Securities (India) were the lead book-running managers to the issue. This is the first time JP Morgan India has participated in an IPO as a book runner.
Expert’s View
While the P/E valuation of 37.79x appears reasonable, the absence of directly comparable listed peers limits a definitive assessment. However, considering Indegene’s unique market position, strong growth trajectory, and established client base, Swastika Investmart recommends this IPO to investors for listing gain and long term.
Objectives of IPO
Payment of debt for one of the material subsidiaries – ILSL Holdings Inc., funding capital expenditure of Indgene, and other general corporate purposes.