Indegene IPO

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

  1. Enterprise Commercial Solutions
  2. Omni channel Activation
  3. Enterprise Medical Solutions
  4. 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 Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax241.901266.10162.82149.41
Net Worth1,327.001,063.72763.90324.51
Reserves and Surplus1,282.651,019.43763.55324.19
Total Borrowing399.33394.3418.2424.76

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 DateMay 6, 2024 to May 8, 2024
Listing DateMonday, May 13, 2024
Face Value₹2 per share
Price Band₹430 to ₹452 per share
Lot Size33 Shares
Total Issue Size40,746,891 shares (aggregating up to ₹1,841.76 Cr)
Fresh Issue16,814,159 shares (aggregating up to ₹760.00 Cr)
Offer for Sale23,932,732 shares of ₹2 (aggregating up to ₹1,081.76 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE

Lot Allocation details

Retail (Min)133₹14,916
Retail (Max)13429₹193,908
Large-HNI (Min)682244₹1,014,288

Allotment Schedule

Basis of AllotmentThursday, May 9, 2024
Initiation of RefundsFriday, May 10, 2024
The credit of Shares to DematFriday, May 10, 2024
Listing DateMonday, May 13, 2024
Cut-off time for UPI mandate confirmation5 PM on May 8, 2024

IPO Reservation

Investor CategoryShares OfferedMaximum Allot-tees
Anchor Investors12,141,102 (29.78%)NA
QIB investors8,094,069 (19.85%)NA
NII (HNI) investors6,070,552 (14.89%)
Retail investors14,164,620 (34.75%)429,230
Employee296,209 (0.73%)NA
Total 40,766,552 (100%)

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