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Indegene IPO is a book built issue of Rs 1,841.76 crores. The issue is a combination of fresh issue of 1.68 crore shares aggregating to Rs 760.00 crores and offer for sale of 2.39 crore shares aggregating to Rs 1,081.76 crores.
Indegene IPO bidding started from May 6, 2024 and ended on May 8, 2024. The allotment for the Indegene IPO is expected to be finalized on Thursday, May 9, 2024. Indegene IPO will list on BSE, NSE with tentative listing date fixed as Monday, May 13, 2024.
Indegene IPO price band is set at ₹430 to ₹452 per share. The minimum lot size for an application is 33 Shares. The minimum amount of investment required by retail investors is ₹14,916. The minimum lot size investment for sNII is 14 lots (462 shares), amounting to ₹208,824, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,014,288.
The issue includes a reservation of up to 296,209 shares for employees offered at a discount of Rs 30 to the issue price.
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 of the Indegene IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Indegene IPO RHP for detailed information.
| IPO Date | May 6, 2024 to May 8, 2024 |
| Listing Date | [.] |
| 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) |
| Employee Discount | Rs 30 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 222,435,091 |
| Share holding post issue | 239,249,250 |
Indegene IPO offers 40,766,552 shares. 8,094,069 (19.85%) to QIB, 6,070,552 (14.89%) to NII, 14,164,620 (34.75%) to RII, 296,209 (0.73%) to employees and 12,141,102 (29.78%) to Anchor investors. 429,230 RIIs will receive minimum 33 shares and 4,379 (sNII) and 8,759 (bNII) will receive minimum 462 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 12,141,102 (29.78%) | NA |
| QIB Shares Offered | 8,094,069 (19.85%) | NA |
| NII (HNI) Shares Offered | 6,070,552 (14.89%) | |
| bNII > ₹10L | 4,047,034 (9.93%) | 8,759 |
| sNII < ₹10L | 2,023,518 (4.96%) | 4,379 |
| Retail Shares Offered | 14,164,620 (34.75%) | 429,230 |
| Employee Shares Offered | 296,209 (0.73%) | NA |
| Total Shares Offered | 40,766,552 (100%) |
Indegene IPO raises Rs 548.78 crore from anchor investors. Indegene IPO Anchor bid date is May 3, 2024. Indegene IPO Anchor Investors list
| Bid Date | May 3, 2024 |
| Shares Offered | 12,141,102 |
| Anchor Portion Size (In Cr.) | 548.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 8, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 7, 2024 |
Indegene IPO opens on May 6, 2024, and closes on May 8, 2024.
| IPO Open Date | Monday, May 6, 2024 |
| IPO Close Date | Wednesday, May 8, 2024 |
| Basis of Allotment | Thursday, May 9, 2024 |
| Initiation of Refunds | Friday, May 10, 2024 |
| 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 |
Investors can bid for a minimum of 33 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,916 |
| Retail (Max) | 13 | 429 | ₹193,908 |
| S-HNI (Min) | 14 | 462 | ₹208,824 |
| S-HNI (Max) | 67 | 2,211 | ₹999,372 |
| B-HNI (Min) | 68 | 2,244 | ₹1,014,288 |
| Lot Size Calculator | |||
| Share Holding Pre Issue | 30.71% |
| Share Holding Post Issue |
Founded in 1998, Indegene Limited provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.
The company's services can be divided into following categories
The subsidiary of the company, DT Associates Limited, provides consulting services under the "DT Consulting" brand. It helps life sciences companies manage their digital transformation efforts to ensure continued success in customer experience.
The company received the Platinum Level award at the 2023 Healthy Workplace Conference and Awards, a recognition given by Arogya World India Trust in partnership with the Public Health Foundation of India.
As of December 31, 2023, the company had 65 clients actively engaged with its services.
As of December 31, 2023, the company employed 5,181 people worldwide. Of these, 4,461 are based in India, 530 work in North America, 105 in Europe, 73 in China, and 12 in other regions.
Indegene Limited's revenue increased by 39.85% and profit after tax (PAT) rose by 63.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 | 241.90 | 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 | ||||
The market capitalization of Indegene IPO is Rs 10814.07 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| Debt/Equity | 0.3 |
| RoNW | 18.23% |
| P/BV | 7.55 |
| PAT Margin (%) | 12.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.96 | 13.48 |
| P/E (x) | 37.78 | 33.53 |
The Company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] The company has a unique business model and enjoys virtual monopoly in its business that generates over 98% global revenue. It marked steady growth in its top and bottom lines for the reported periods, and the segment is poised for bright prospects ahead. Based on FY24 annualized earnings, the issue appears fully priced, but considering its niche play, it is reasonably priced leaving something on table for one and all. Investors may lap up this IPO for the medium to long term rewards. Read detail review...
The Indegene IPO is subscribed 70.30 times on May 8, 2024 6:19:05 PM. The public issue subscribed 7.86 times in the retail category, 192.72 times in the QIB category, and 55.91 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 192.72 |
| NII | 55.91 |
| bNII (bids above ₹10L) | 62.23 |
| sNII (bids below ₹10L) | 43.26 |
| Retail | 7.86 |
| Employee | 6.62 |
| Total | 70.30 |
Total Application : 2,793,616 (6.51 times)
Indegene Limited
Aspen Block G4, 3 rd Floor, Manyata Embassy
Business Park, Outer Ring Road, Nagawara
Bengaluru 560 045
Phone: +91 80 4674 4567
Email: compliance.officer@indegene.com
Website: https://www.indegene.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indegene.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Indegene IPO is a main-board IPO of 40,746,891 equity shares of the face value of ₹2 aggregating up to ₹1,841.76 Crores. The issue is priced at ₹430 to ₹452 per share. The minimum order quantity is 33 Shares.
The IPO opens on May 6, 2024, and closes on May 8, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indegene IPO using UPI as a payment gateway. Zerodha customers can apply in Indegene IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indegene IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indegene IPO opens on May 6, 2024 and closes on May 8, 2024.
Indegene IPO lot size is 33 Shares, and the minimum amount required is ₹14,916.
You can apply in Indegene IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Indegene IPO will be done on Thursday, May 9, 2024, and the allotted shares will be credited to your demat account by Friday, May 10, 2024. Check the Indegene IPO allotment status.
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