Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Indegene IPO is a book build issue of ₹1,841.76 crores. The issue is a combination of fresh issue of 1.68 crore shares aggregating to ₹760.52 crores and offer for sale of 2.39 crore shares aggregating to ₹1,081.24 crores.
Indegene IPO bidding started from May 6, 2024 and ended on May 8, 2024. The allotment for Indegene IPO was finalized on May 9, 2024. The shares got listed on BSE, NSE on May 13, 2024.
Indegene IPO price band is set at ₹452.00 per share . The lot size for an application is 33. The minimum amount of investment required by an retail is ₹14,190 (33 shares). The lot size investment for sNII is 14 lots (462 shares), amounting to ₹2,08,824, and for bNII, it is 68 lots (2,244 shares), amounting to ₹10,14,288.
The issue includes a reservation of up to 2,96,208 shares for employees offered at a discount of ₹30.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Indegene IPO RHP for detailed Information.
| IPO Date | May 6, 2024 to May 8, 2024 |
| Listing Date | May 13, 2024 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹430 to ₹452 per share |
| Issue Price Final | ₹452 per share |
| Lot Size | 33 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 4,07,66,550 shares (aggregating up to ₹1,841.76 Cr) |
| Fresh Issue | 1,68,33,818 shares (aggregating up to ₹760.52 Cr) |
| Offer for Sale | 2,39,32,732 shares of ₹2 (aggregating up to ₹1,081.24 Cr) |
| Employee Discount | ₹30.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 22,24,35,091 shares |
| Share Holding Post Issue | 23,92,49,250 shares |
Indegene IPO offers total 4,07,66,550 shares. Out of which 2,02,35,170 (49.64%) allocated to QIB, 80,94,068 (19.85%) allocated to QIB, 60,70,552 (14.89%) allocated to NII, 1,41,64,620 (34.75%) allocated to RII and 1,21,41,102 (29.78%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,02,35,170 (49.64%) | NA |
| − Anchor Investor Shares Offered | 1,21,41,102 (29.78%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 80,94,068 (19.85%) | NA |
| NII (HNI) Shares Offered | 60,70,552 (14.89%) | NA |
| − bNII > ₹10L | 40,47,034 (9.93%) | 8,759 |
| − sNII < ₹10L | 20,23,518 (4.96%) | 4,379 |
| Retail Shares Offered | 1,41,64,620 (34.75%) | 4,29,230 |
| Employee Shares Offered | 2,96,208 (0.73%) | NA |
| Total Shares Offered | 4,07,66,550 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Indegene IPO raises ₹548.78 crore from anchor investors. Indegene IPO Anchor bid date is May 3, 2024. Indegene IPO Anchor Investors list
| Bid Date | May 3, 2024 |
| Shares Offered | 1,21,41,102 |
| Anchor Portion Size (In Cr.) | 548.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 8, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 7, 2024 |
Indegene IPO opens on May 6, 2024, and closes on May 8, 2024.
| IPO Open Date | Mon, May 6, 2024 |
| IPO Close Date | Wed, May 8, 2024 |
| Tentative Allotment | Thu, May 9, 2024 |
| Initiation of Refunds | Fri, May 10, 2024 |
| Credit of Shares to Demat | Fri, May 10, 2024 |
| Tentative Listing Date | Mon, May 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, May 8, 2024 |
Investors can bid for a minimum of 33 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,916 |
| Retail (Max) | 13 | 429 | ₹1,93,908 |
| S-HNI (Min) | 14 | 462 | ₹2,08,824 |
| S-HNI (Max) | 67 | 2,211 | ₹9,99,372 |
| B-HNI (Min) | 68 | 2,244 | ₹10,14,288 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 1998, Indegene Limited provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.
The company's services can be divided into following categories
The subsidiary of the company, DT Associates Limited, provides consulting services under the "DT Consulting" brand. It helps life sciences companies manage their digital transformation efforts to ensure continued success in customer experience.
The company received the Platinum Level award at the 2023 Healthy Workplace Conference and Awards, a recognition given by Arogya World India Trust in partnership with the Public Health Foundation of India.
As of December 31, 2023, the company had 65 clients actively engaged with its services.
As of December 31, 2023, the company employed 5,181 people worldwide. Of these, 4,461 are based in India, 530 work in North America, 105 in Europe, 73 in China, and 12 in other regions.
Indegene Limited's revenue increased by 39.85% and profit after tax (PAT) rose by 63.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,518.15 | 2,203.87 | 1,353.47 | 596.04 |
| Total Income | 1,969.75 | 2,364.10 | 1,690.50 | 996.92 |
| Profit After Tax | 241.90 | 266.10 | 162.82 | 149.41 |
| Net Worth | 1,327.00 | 1,063.72 | 763.90 | 324.51 |
| Reserves and Surplus | 1,282.65 | 1,019.43 | 763.55 | 324.19 |
| Total Borrowing | 399.33 | 394.34 | 18.24 | 24.76 |
| Amount in ₹ Crore | ||||
The market capitalization of Indegene IPO is ₹10814.07 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| Debt/Equity | 0.30 |
| RoNW | 18.23% |
| PAT Margin | 12.62% |
| Price to Book Value | 7.55 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.96 | 13.48 |
| P/E (x) | 37.78 | 33.53 |
The Company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] The company has a unique business model and enjoys virtual monopoly in its business that generates over 98% global revenue. It marked steady growth in its top and bottom lines for the reported periods, and the segment is poised for bright prospects ahead. Based on FY24 annualized earnings, the issue appears fully priced, but considering its niche play, it is reasonably priced leaving something on table for one and all. Investors may lap up this IPO for the medium to long term rewards. Read detail review...
| Listing Date | May 13, 2024 |
| BSE Script Code | 544172 |
| NSE Symbol | INDGN |
| ISIN | INE065X01017 |
| Final Issue Price | ₹452 per share |
| BSE Listing Group | B |
Indegene Ltd.
Aspen Block G4, 3 rd Floor,
Manyata Embassy, Business Park,
Outer Ring Road, Nagawara
Bengaluru, Karnataka, 560045
Phone: +91 80 4674 4567
Email: compliance.officer@indegene.com
Website: https://www.indegene.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: indegene.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Indegene IPO is a main-board IPO of 4,07,66,550 equity shares of the face value of ₹2 aggregating up to ₹1,841.76 Crores. The issue is priced at ₹452 per share. The minimum order quantity is 33.
The IPO opens on May 6, 2024, and closes on May 8, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indegene IPO using UPI as a payment gateway. Zerodha customers can apply in Indegene IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indegene IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indegene IPO opens on May 6, 2024 and closes on May 8, 2024.
Indegene IPO lot size is 33, and the minimum amount required for application is ₹14,916.
You can apply in Indegene IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Indegene IPO will be done on Thursday, May 9, 2024, and the allotted shares will be credited to your demat account by Friday, May 10, 2024. Check the Indegene IPO allotment status.
The Indegene IPO listing date is on Monday, May 13, 2024.
Useful Articles
RHP