Indegene Limited IPO: An Overview and Company Insight
Indegene Ltd. (IL) is a leading provider of digital-led commercialization services for the life sciences industry. With over 2 decades of healthcare domain expertise, it offers comprehensive solutions to assist biopharmaceutical, emerging biotech, and medical device companies with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing.
Indegene Limited boasts a diverse client base. In FY23, this included the 20 largest biopharmaceutical companies globally by revenue (Source: Everest Report). As of December 31, 2023, it had 65 active clients, with a significant portion of its revenue derived from these key relationships. With a team of 5,181 dedicated employees, Indegene Limited is committed to delivering exceptional value to its clients and driving innovation in the life sciences industry.
Grey Market Premium Analysis and IPO Timelines: Indegene Limited IPO
| Date | GMP |
| May 2 | ₹242 |
| May 1 | ₹242 |
| April 30 | ₹224 |
| April 29 | ₹169 |
| April 28 | ₹170 |
The last update for Indegene Limited IPO was on May 2, 2024, at 09:54 AM. The GMP is ₹242. The expected listing price of Indegene Limited IPO, with a price band of 452.00, is ₹694 (cap price + today’s GMP). 53.54% is the anticipated percentage gain or loss per share.
Pricing Details and Lot Size – Indegene Limited IPO
The price band for Indegene Limited is ₹430 to ₹452 per share.
Book-running Lead Managers and Registrar – Indegene Limited 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) Pvt Ltd are the book-running lead managers to the issue with Link InTime India Private Limited as the registrar for the issue.
Offer for Sale and IPO Size Breakdown – Indegene Limited IPO
A book-built issue of INR 1,841.76 crores. The Indegene Limited offering comprises a fresh issue of 1.68 crore shares amounting to INR 760.00 crores and an offer for sale of 2.39 crore shares worth INR 1,081.76 crores.
IPO Timelines at a Glance – Indegene Limited
| Event | Date |
| IPO Opening Date | May 6, 2024 |
| IPO Closing Date | May 8, 2024 |
| IPO Allotment Date | May 9, 2024 |
| Initiation of Refunds | May 10, 2024 |
| Credit of Shares to Demat | May 10, 2024 |
| IPO Listing Date | May 13, 2024 |
Utilization of Fresh Issuance and Technological Advancements – Indegene Limited IPO
The offer’s objectives are to:
- Repay or prepay debts of one of its Material Subsidiaries, ILSL Holdings, Inc.
- Funding the capital expenditure needs of Indegene, Inc., a Material Subsidiary of IL.
- General corporate purposes and potential inorganic growth opportunities.
Conclusion
Indegene Limited’s impressive client base is a testament to its industry reputation and reliability. With established relationships with each of the top 20 biopharmaceutical companies worldwide by revenue in FY 2023, Indegene Limited has consistently derived a substantial portion of its revenue from these key partnerships. In fact, more than 69% of Indegene’s total revenue from operations over recent financial periods has been attributed to these prestigious clients.
As of December 31, 2023, the company had 65 active clients and a team of 5,181 dedicated employees. The company had 27 clients from whom they earned between US$1 million and US$10 million, as well as 5 clients yielding over US$25 million in revenues during the 12 months ended December 31, 2023.
Frequently Asked Questions – Indegene Limited IPO
What does Indegene Limited specialise in?
Indegene Ltd. (IL) is a leading provider of digital-led commercialization services for the life sciences industry. With over 2 decades of healthcare domain expertise, it offers comprehensive solutions to assist biopharmaceutical, emerging biotech, and medical device companies with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing.
What is the primary purpose of Indegene Limited’s IPO?
The offer’s objectives are to repay or prepay debts of one of its Material Subsidiaries, ILSL Holdings, Inc, funding the capital expenditure needs of Indegene, Inc., a Material Subsidiary of IL, general corporate purposes and potential inorganic growth opportunities.
Who are the lead managers for Indegene Limited’s 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) Pvt Ltd are the book-running lead managers to the issue with Link InTime India Private Limited as the registrar for the issue.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The Rs 1,841.76 crores Indegene Limited IPO is a book-built issue. The offering comprises 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.
What is the lot size and minimum investment for retail investors in Indegene Limited’s IPO?
Indegene Limited’s IPO lot size is 33 shares and the minimum amount is Rs 14,916.
What is the price band for Indegene Limited’s IPO?
The price band for Indegene Limited IPO is ₹430 to ₹452 per share.
How has the Grey Market Premium (GMP) trend for Indegene Limited’s IPO?
The last update for Indegene Limited IPO was on May 2, 2024, at 09:54 AM. The GMP is ₹242. The expected listing price of Indegene Limited IPO, with a price band of 452.00, is ₹694 (cap price + today’s GMP). 53.54% is the anticipated percentage gain or loss per share.
When does the IPO open and close for application?
Indegene Limited IPO will open for subscription on May 6, 2024 and close May 8, 2024.
When is the allotment date for the Indegene Limited IPO?
The allotment date is set for May 9, 2024.
When is Indegene Limited expected to be listed on the stock exchanges?
The equity shares of Indegene Limited IPO are anticipated to be listed on May 13, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
