Indegene Limited IPO Subscription Status & Analyst Recommendations

Indegene Limited has officially launched its Initial Public Offering (IPO) in India, aiming to raise a significant amount of funds through a mix of fresh issue and offer for sale.

The book build issue opened on May 6 and is set to close on May 8, 2024, with the company targeting a total amount of ₹1,842 crores. This move comes as Indegene looks to solidify its position in the global life sciences industry with its digital-led commercialization services.

Analysts from BP Wealth, Anand Rathi, and Reliance Securities have recommended potential investors to ‘Subscribe’ to the IPO, underscoring the robust performance and market potential Indegene possesses in this sector.

Indegene Limited is looking forward to being listed on the BSE and NSE subsequently. The IPO shares are currently trading at a notable premium in the grey market, reflecting strong investor interest in the offer.

The IPO includes both fresh equity shares and an offer for sale by existing shareholders, including CA Dawn Investments, Vida Trustees, Nadathur Fareast Pte Ltd, Carlyle Group entities, and individual investors.

The funds raised from the IPO will be allocated towards key objectives, such as debt payments, capital expenditures, inorganic growth investments, and general corporate uses by the company.

Kotak Mahindra Capital, Citigroup Global Markets, J P Morgan India, Nomura Financial Advisory, and other leading firms are assisting Indegene Limited as the book-running lead managers for this IPO.

The IPO allotment process is scheduled for May 9, with refund initiation proceeding the following day. Indegene shares are expected to commence trading on the exchanges on May 13.

Founded in 1998, Indegene, headquartered in India, has positioned itself as a significant player in providing comprehensive digital solutions to biopharmaceutical, biotech, and medical device companies globally, backed by a strong financial performance record.