What you must know about Indegene IPO?
by 5paisa Research Team
29 Apr 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 13-May-24
- IPO Price Range ₹430
- Listing Price ₹659.7
- Listing Change 46.0 %
- Last Traded Price ₹643.15
- Current Change 42.3 %
Indegene IPO Details
- Open Date 06-May-24
- Close Date 08-May-24
- Lot Size 33
- IPO Size ₹ 1841.76 Cr
- IPO Price Range ₹ 430 to ₹ 452
- Min Investment ₹ 14,190
- Listing Exchange BSE, NSE
- Basis of Allotment 09-May-24
- Refunds 10-May-24
- Credit to Demat Account 10-May-24
- Listing Date 13-May-24
Indegene IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 06-May-24 | 0.05 | 4.24 | 1.56 | 1.70 |
| 07-May-24 | 5.45 | 18.44 | 3.94 | 7.44 |
| 08-May-24 | 192.72 | 55.82 | 7.78 | 70.25 |
Indegene IPO Synopsis
Last Updated: 8th May, 2024 by 5paisa
Indegene Limited IPO is set to open from 6th May to 8th May 2024. The company offers digital-led commercialization services. The IPO includes a fresh issue of 16,814,159 shares worth ₹760 cr. and an Offer-for-Sale (OFS) of 23,932,732 for ₹1,081.76 cr. The total IPO size is ₹1,841.76 cr. The share allotment date is 9th May 2024, and the IPO will be listed on 13th May 2024 on the stock exchanges. The price band is set at ₹430 to ₹452 and the lot size is 33 shares.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Indegene IPO
● To repay or prepay debt obtained by ILSL Holdings, Inc. a Material Subsidiary.
● To fund the working expenditure requirements of the company and its material subsidiary Indegene, Inc.
● To fund inorganic growth.
● General corporate purposes.
Indegene IPO Video
Indegene IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 1,841.76 |
| Offer for sale | 1,081.76 |
| Fresh issue | 760.00 |
Indegene IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,916 |
| Retail (Max) | 13 | 429 | ₹193,908 |
| S-HNI (Min) | 14 | 462 | ₹208,824 |
| S-HNI (Max) | 67 | 2,211 | ₹999,372 |
| B-HNI (Min) | 68 | 2,244 | ₹1,014,288 |
Indegene IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| Anchor Allocation | 1 | 1,21,41,102 | 1,21,41,102 | 548.778 |
| QIB | 192.72 | 80,94,069 | 1,55,98,65,945 | 70,505.94 |
| NII (HNI) | 55.82 | 60,70,552 | 33,88,74,822 | 15,317.14 |
| Retail | 7.78 | 1,41,64,620 | 11,02,02,675 | 4,981.16 |
| Employees | 6.57 | 2,96,209 | 19,45,614 | 87.94 |
| Total | 70.25 | 2,86,25,450 | 2,01,08,89,056 | 90,892.19 |
Indegene IPO Anchor Allocation
| Anchor Bid Date | 3 May, 2024 |
| Total no. of shares offered | 12,141,102 |
| Portion Size for Anchor Investors | 548.78 Cr. |
| Lock in Period for 50% shares (30 days) | 8 June, 2024 |
| Lock in Period for rest of shares (90 days) | 7 August, 2024 |
Indegene IPO Shareholding Pattern
| Shareholding Pattern | Pre issue % | Post issue % |
|---|---|---|
| Promoter & Promoter Group | 11.96 | 13.48 |
| Public & Employees | 37.78 | 33.53 |
| Total | 100.0 | 100.0 |
About Indegene
Established in 1998, Indegene Limited digital-led commercialization services. The company offers these services to a wide range of industries including the life sciences industry, including biopharmaceutical, emerging biotech and medical devices. These help the clients in drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of products.
The company enjoys client relationships with all the 20 largest pharmaceutical companies globally in terms of revenue for FY 2023. It has four business verticals:
● Enterprise Commercial Solutions
● Omnichannel Activation
● Enterprise Medical Solutions
● Enterprise Clinical Solutions and consultancy services
Indegene had 65 active clients as of December 2023 and runs offices in India as well as North America, Europe and Asia.
Peer Comparison
No listed peers.
For More Information:
Webstory on Indegene IPO
Indegene Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 2306.13 | 1664.60 | 966.27 |
| EBITDA | 454.18 | 265.91 | 263.96 |
| PAT | 266.09 | 162.81 | 185.68 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 2203.86 | 1353.46 | 596.04 |
| Share Capital | 44.29 | 0.35 | 0.31 |
| Total Borrowings | 1140.14 | 589.56 | 262.95 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 130.21 | 297.04 | 172.03 |
| Net cash from / (used in) investing activities | -893.34 | -160.20 | -24.24 |
| Net cash flow from / (used in) financing activities | 333.08 | 233.47 | -131.50 |
| Net increase (decrease) in cash and cash equivalents | -430.04 | 370.31 | 16.27 |
Indegene IPO Key Points
-
Strengths
1. The company has domain expertise in healthcare.
2. It also has digital capabilities and an in-house developed technology portfolio.
3. It has a track record of establishing long-standing client relationships.
4. It has 17 offices located across North America, Europe and Asia.
5. The company has experience in creating value through acquisitions.
6. Experienced management team. -
Risks
1. A majority of our revenues are derived from our Subsidiaries.
2. The life sciences operations industry is highly competitive
3. The company derives a majority portion of its revenues from large clients located in North America and Europe.
4. High working capital requirements.
Indegene
How to apply for IPO?
-
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current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
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your UPI app -
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will be blocked
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Indegene IPO FAQs
When does Indegene IPO issue open and close?
Indegene IPO opens from 6th May to 8th May 2024.
What is the size of the Indegene IPO?
The size of Indegene IPO is ₹1,841.76 cr.
How to apply for the Indegene IPO?
To apply for Indegene IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Indegene IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of Indegene IPO?
The price band of Indegene IPO is set at ₹430 to ₹452 per share.
What is the minimum lot size and investment required for the Indegene IPO?
The minimum lot size of Indegene IPO is 33 shares and the minimum investment required to apply for the IPO is ₹14,190.
What is the allotment date of the Indegene IPO?
The share allotment date of Indegene IPO is 9th May 2024.
What is the Indegene IPO listing date?
The Indegene IPO will be listed on 13th May 2024.
Who are the book runners for the Indegene IPO?
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead managers for Indegene IPO.
What is the objective of the Indegene IPO?
Indegene Limited will use the proceeds from the IPO for:
● To repay or prepay debt obtained by ILSL Holdings, Inc. a Material Subsidiary.
● To fund the working expenditure requirements of the company and its material subsidiary Indegene, Inc.
● To fund inorganic growth.
● General corporate purposes.
Contact Details of Indegene IPO
Contact Information
Indegene Limited
Aspen Block G4, 3 rd Floor, Manyata Embassy
Business Park, Outer Ring Road, Nagawara
Bengaluru 560 045
Phone: +91 80 4674 4567
Email: compliance.officer@indegene.com
Website: https://www.indegene.com/
Indegene IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indegene.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Indegene IPO Lead Manager
Nomura Financial Advisory And Securities (India) Pvt Ltd
J.P. Morgan India Private Limited
Kotak Mahindra Capital Company Limited
Citigroup Global Markets India Private Limited
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