Indegene IPO Day 2: Check subscription details here

7 May 2024 , 11:49 AM

Indegene IPO is doing well, attracting interest from various types of investors. On day 2 of subscription, at the time of writing the retail investors were subscribing to 2.29 times their reserved portion, followed by non-institutional investors at 7.09 times. Qualified institutional buyers (QIBs) showed tepid interest, subscribing to 0.06 times.

The IPO opened on May 6 and closes on May 8, with shares priced between ₹430 to ₹452. It raised ₹548.77 crore from anchor investors on May 3. 15% of shares are reserved for non-institutional investors, up to 50% for institutional buyers, and 35% for retail investors.

Indegene provides digital services in the life sciences sector, including areas like complaints handling and clinical trial management. It received bids for 4,81,42,908 shares against the offered 2,88,66,677 shares. Notable selling shareholders include Manish Gupta, Vida Trustees Private Limited, and others.

The IPO proceeds will be used for various purposes like expansion and debt repayment. Key financial institutions managing the IPO include Kotak Mahindra Capital, Citigroup, J.P. Morgan, and Nomura.

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