The IPO of Indegene Limited is currently open for subscription until May 8, offering shares at a price band of Rs 430-452 per share. Investors can apply for a minimum of 33 equity shares and in multiples thereafter.
The total size of the IPO is Rs 1,841.76 crore, comprising a fresh share sale of Rs 760 crore and an offer-for-sale (OFS) of up to 2,39,32,732 equity shares by its promoters and existing equity shareholders. Additionally, shares worth Rs 12.5 crore are reserved for eligible employees at a discounted price of Rs 30 per share.
Anand Rathi Research recommends subscribing to the IPO, noting the company's global footprint, efficient project execution, and flexible collaboration capabilities. Swastika Investment also suggests subscribing, highlighting Indegene's consistent growth over the past three fiscal years and its well-developed technology portfolio.
Before the IPO launch, Indegene secured Rs 548.78 crore from anchor investors, including notable names like the Smallcap World Fund, Abu Dhabi Investment Authority, and Custody Bank of Japan.
Regarding share allocation, 50% of the net offer is reserved for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) can access 15% of the net offer. Retail investors have the remaining 35% of the net offer earmarked for them.
The book-running lead managers for the IPO are Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India), with Link Intime India acting as the registrar.
The company is scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on May 13.
