Indegene IPO opens today; Check subscription details here

6 May 2024 , 12:12 PM

The initial public offer of Indegene Limited opens today and will conclude on May 8. The company is offering its shares at a price band of ₹430-452 per share and investors can apply for 33 shares in a lot. Click here to subscribe to the IPO.

On day 1 by 11.50 AM, the company has received bids for 1,08,26,706 shares out of 2,88,66,677 shares available for subscription. The retail portion of the IPO has been subscribed 0.46 times while the non-institutional portion has received 0.66 times subscription.

The company has also reserved a portion for its employees which have been subscribed 0.55 times so far.

Indegene’s IPO comprises two key components: a fresh issue and an offer-for-sale. The fresh issue, totalling ₹760 Crore, is earmarked primarily for repaying a term loan of approximately ₹391 Crore secured in March ’23 for the acquisition of Cult Health.

Simultaneously, the Offer-for-Sale involves the divestment of partial holdings by prominent private equity firms Carlyle and Brighton Park.

Founded in 1998, Indegene specializes in digital-led commercialization services for the life science industry. Leveraging advanced digital solutions, the company aids clients in various aspects including drug development, regulatory submissions, pharmacovigilance, and product marketing. This comprehensive suite of services positions Indegene as a trusted partner for pharmaceutical companies navigating the complexities of modern healthcare.