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Indegene IPO is a book-built issue of Rs 1,841.76 crores. The issue is a combination of a fresh issue of 1.68 crore shares aggregating to Rs 760.00 crores and an offer for sale of 2.39 crore shares aggregating to Rs 1,081.76 crores.
Indegene IPO opens for subscription on May 6, 2024, and closes on May 8, 2024. The IPO price band is set at ₹430 to ₹452 per share and the minimum lot size for an application is 33 Shares.
Company Summary
They provide digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies, that assist them with drug development and clinical trials, regulatory submissions, Pharma co vigilance and complaints management, and the sales and marketing of their products.
The company’s services can be divided into the following categories
- Enterprise Commercial Solutions
- Omni channel Activation
- Enterprise Medical Solutions
- Enterprise Clinical Solutions and consultancy services.
Their solutions enable life sciences companies to develop products, launch them in the market, and drive sales through their life cycle in a more effective, efficient, and modern manner.
They achieve this by combining over two decades of healthcare domain expertise and fit-for-purpose technology. Their portfolio of solutions covers all aspects of commercial, medical, regulatory, and R&D operations of life sciences companies.
They have established client relationships with each of the 20 largest biopharmaceutical companies in the world by revenue for the Financial Year 2023.
Company Strengths
For the nine months ended December 31, 2023, and 2022 and the Financial Years 2023, 2022 and 2021, they derived revenue from operations of ₹9,154.30 million, ₹8,255.32 million, ₹11,344.67 million, ₹9,175.76 million and ₹5,446.52 million, respectively, or 47.76%, 49.32%, 49.19%, 55.12% and 56.37%, respectively.
They have implemented Gen AI-based features across several of their tools and platforms, and they will continue to add Gen AI-based features to improve the effectiveness of their solutions, increase their competitiveness in the market, and drive operational efficiency.
They regularly get featured in industry publications as well as general, business, and financial media. They have also been ranked amongst 100 Great Places to Work.
Also, the company earned recognition as one of The Economic Times Best Brands in 2021 and 2022 and one of the Financial Times’ High-Growth Companies Asia-Pacific in 2022.
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,518.15 | 2,203.87 | 1,353.47 | 596.04 |
| Revenue | 1,969.75 | 2,364.10 | 1,690.50 | 996.92 |
| Profit After Tax | 241.901 | 266.10 | 162.82 | 149.41 |
| Net Worth | 1,327.00 | 1,063.72 | 763.90 | 324.51 |
| Reserves and Surplus | 1,282.65 | 1,019.43 | 763.55 | 324.19 |
| Total Borrowing | 399.33 | 394.34 | 18.24 | 24.76 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The Company proposes to utilize the Net Proceeds towards funding the following objects
- Repayment/prepayment of indebtedness of one of their Material Subsidiaries, ILSL Holdings, Inc.
- Funding the capital expenditure requirements of the Company and one of its material Subsidiaries, Indegene, Inc
- General corporate purposes and inorganic growth
IPO details
| IPO Date | May 6, 2024 to May 8, 2024 |
| Listing Date | Monday, May 13, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹430 to ₹452 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 40,746,891 shares (aggregating up to ₹1,841.76 Cr) |
| Fresh Issue | 16,814,159 shares (aggregating up to ₹760.00 Cr) |
| Offer for Sale | 23,932,732 shares of ₹2 (aggregating up to ₹1,081.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 33 | ₹14,916 |
| Retail (Max) | 13 | 429 | ₹193,908 |
| Small-HNI(Min) | 14 | 462 | ₹208,824 |
| small-HNI(Max) | 67 | 2211 | ₹999,372 |
| Large-HNI (Min) | 68 | 2244 | ₹1,014,288 |
Allotment Schedule
| Basis of Allotment | Thursday, May 9, 2024 |
| Initiation of Refunds | Friday, May 10, 2024 |
| The credit of Shares to Demat | Friday, May 10, 2024 |
| Listing Date | Monday, May 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 8, 2024 |
IPO Reservation
| Investor Category | Shares Offered | Maximum Allot-tees |
| Anchor Investors | 12,141,102 (29.78%) | NA |
| QIB investors | 8,094,069 (19.85%) | NA |
| NII (HNI) investors | 6,070,552 (14.89%) | – |
| Retail investors | 14,164,620 (34.75%) | 429,230 |
| Employee | 296,209 (0.73%) | NA |
| Total | 40,766,552 (100%) | – |
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