Indegene IPO opens for subscription today: Top things to know about the issue

Indegene IPO: The initial public offering (IPO) of Indegene opens for subscription today (May 6). The IPO will close on May 8 and the company plans to raise around ₹4,275 crore through the issue. Indegene offers solutions that help biopharmaceutical, emerging biotech and medical devices companies to develop, launch and improve sales of products in the market. 

Indegene IPO: The IPO comprises fresh equity issue worth up to ₹750 crore and offer for sale (OFS) of up to 2.93 crore equity shares.

Indegene IPO size: The IPO comprises fresh equity issue worth up to ₹750 crore and offer for sale (OFS) of up to 2.93 crore equity shares by existing investors. 

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Indegene IPO price band: The price band of the issue has been fixed at ₹430-452. At the upper end, the company plans to raise ₹1,842 crore through the issue.

Indegene IPO lot size: Of the offer, about 50% is reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 35% for retail investors.

Indegene IPO financials: For the period ended December 2023, Indegene registered revenue from operations of ₹1,969 crore and posted a profit after tax of ₹241 crore.

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Indegene IPO objectives: Net proceeds from the IPO will be used by the company to pay debt, fund capital expenditure requirements, payment of deferred consideration for past acquisitions and for general corporate purposes, it said. 

Indegene IPO GMP: The current GMP of Indegene is ₹240 in the grey market. 

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Indegene IPO lead managers: Kotak Mahindra Capital, Citigroup Global Markets India, J P Morgan India, Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue.

Indegene IPO share allotment and listing: The share allotment for the IPO will be likely finalised on May 13 and the estimated listing date is March 15.

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