Indegene shares close at ₹570.65 on Listing Day

14 May 2024 , 08:49 AM

On May 13, with its shares closed at ₹569, a 25.8% premium above its issue price of ₹452 per share on the BSE on Monday, Indegene made a spectacular debut on the stock market. The healthcare research, analytics, and technology company’s stock opened at ₹655 on the National Stock Exchange (NSE), which is 45% more than its issue price.

The IPO received a solid response, with 70.30 times subscribers to the issue. Indegene’s retail IPO received bids 7.86 times more than the shares that were offered. There were 192.72 times subscriptions in the qualified institutional buyers (QIB) segment and 55.91 times subscriptions in the non-institutional investors (NII) category.

Indegene is a technology-driven digital commercialization partner for the life sciences sector, encompassing medical device, biopharmaceutical, and nascent biotech businesses.

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