Indegene IPO details

Indegene IPO GMP: Shares of the company are available at a premium of ₹246 in the grey market today, say market observers.

Indegene IPO opens: The Initial Public offering (IPO) of Indegene Limited is set to hit the Indian primary market on Monday deals. This is a unique occurrence, as there has yet to be a single IPO launch during May in the last four Lok Sabha Election cycles. The period from April to June during these years has typically been slow for the primary markets due to election uncertainty. However, the General Election polls jinx was broken after the launch of the JNK India IPO, which is now followed by the Indegene IPO. The digital service provider company has fixed the Indegene IPO price band at ₹430 to ₹452. The book build issue has opened today and will remain open until 8th May 2024, i.e., the issue will remain open until Wednesday this week. Shares of Indegene Limited are trading at a substantial premium in the grey market today. According to the stock market observers, the Indegene share price is available at a premium of ₹246 in today’s grey market. The public issue is proposed for listing on BSE and NSE, and it is a mix of fresh shares and offers for sale (OFS).

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Indegene IPO subscription status

By 11:33 AM on day one of bidding, the public issue has been subscribed 0.31 times whereas the retail portion has been booked 0.39 times. The NII portion of the public offer was booked 0.50 times.

Important Indegene IPO details

1] Indegene IPO GMP: Shares of the company are available at a premium of ₹246 in the grey market today, say market observers.

2] Indegene IPO price: The company has a fixed price band for the public issue at ₹430 to ₹452 apiece.

3] Indegene IPO date: The book build issue opens today and ends on 8th May 2024.

The Indegene IPO is a combination of fresh shares and OFS, with the company aiming to raise a substantial amount of ₹1841.76 crore. Out of this, ₹760 crore is targeted through the issuance of fresh shares, indicating the company’s growth plans. The remaining ₹1081.76 crore is reserved for the OFS route, providing an opportunity for existing shareholders to exit. This financial structure of the IPO reflects Indegene’s strategic approach to its public offering.

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5] Indegene IPO lot size: A bidder can apply in lots for the mainboard IPO, and one lot of the Indegene IPO comprises 33 company shares.

6] Indegene IPO allotment date: The likely date for allotment of shares is 9th May 2024, i.e., Thursday this week.

7] Indegene IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of Indegene IPO.

8] Indegene IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Indegene IPO listing date: In the wake of the ‘T+3 listing rule’, the most likely date for share listing is 13th May 2024.

Indegene IPO: Good or bad for investors?

Indegene IPO review: With a ‘subscribe’ tag to the public issue, Prathamesh Masdekar, Research Analyst at StoxBox, said, “Indegene is a provider of digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies. The company has developed various tools and platforms, including applications that automate and create AI-based efficiencies in developing commercial assets, regulatory documents, and medical content. Since its inception, Indegene has completed 13 acquisitions, which have helped it access new technologies, markets, and clients and expanded the range of solutions it offers to clients. The company grew its revenues at a CAGR of 54.5% during the FY21-23 period. Going ahead, the improvement in operational performance is anticipated to be driven by strengthening their go-to-market approach through deepening relationships with existing clients, establishing new client relationships, strengthening new market segments, focusing on high-value opportunities, and scaling promising business verticals. Therefore, we remain positive and recommend investors apply to the IPO from a medium to long-term perspective.”

Advising investors to apply for the public issue, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, said, “Before the IPO launch, the company’s shares are commanding a substantial premium of over 55% in the grey market, signaling strong investor interest. Prospective investors are encouraged to consider subscribing for potentially favorable listing gains. Investors may park moderate funds for the long term and add on post-listing at lower levels to average the investment with a long-term investment strategy.”

BP Equities, Indsec Securities, SBICAP Securities, SMIFS, and Ventura Securities have also given a ‘buy’ tag to the Indegene IPO, whereas Mehta Equities, Sushil Finance, and Axis Capital have not rated the mainboard IPO.