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 opens for subscription on May 6, 2024 and closes 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. 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.
Indegene IPO Details
| IPO Date | May 6, 2024 to May 8, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 par share |
| Price Band | ₹430 to ₹452 par share |
| Lot Size | 33 Shares |
| Total Issue Size | 40,746,891 (aggregating up to ₹760.76 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 | Rs30 par share |
| Issue Type | Book Built issue share IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 222,435,091 |
| Share holding post issue | 239,249,250 |
Indegene IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50 % of the Net Issue |
| Retail Shares Offered | Not less than 35 % of the Net issue |
| NII (HNI) Shares | Not less than 15% of the Net Issue |
Indegene IPO Timeline (Tentative Schedule)
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 |
Indegene IPO Lot Size
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 (Max) | 14 | 462 | ₹208,824 |
| S-HNI ( Max) | 67 | 2,211 | ₹999,372 |
| B-HNI ( Min) | 68 | 2,244 | ₹1,014,288 |
Indegene IPO Promoter Holding
BCP Topco VII Pte. Ltd. is the promoter of the Company.
| Shares Holding Pre Issue | 30.71% |
| Shares Holding post Issue |
About Indegene Limited
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.
- Enterprise Commercial Solutions
- Omnichannel Activation
- Enterprise Medical Solutions
- Enterprise Clinical Solutions and consultancy services
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 Financial Information (Restated Consolidated)
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 | 399.33 | 394.34 | 18.24 | 24.76 |
Key Performance Indicator
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 |
Note :-
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
Objects of the Issue (Indegene IPO Objectives)
- Repayment/prepayment of indebtedness of one of the Material Subsidiaries, ILSL Holdings, Inc.;
- Funding the capital expenditure requirements of the Company and one of the Material Subsidiaries, Indegene, Inc.; and
- General corporate purposes and inorganic growth.
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