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The initial public offer (IPO) of Indegene received 2,01,81,78,162 bids for shares as against 2,88,66,677 shares on offer. The issue was subscribed 69.91 times. The Qualified Institutional Buyers (QIBs) category was subscribed 197.55 times. The Non Institutional Investors (NIIs) category was subscribed 55.07 times. The Retail Individual Investors (RIIs) category was subscribed 7.95 times. The issue opened for bidding on 6 May 2024 and closed on 8 May 2024. The price band of the IPO was fixed at Rs 430 to 452 per share. The offer comprised fresh issue of equity shares worth up to Rs 760 crore and an offer for sale of 2,39,32,732 equity shares aggregating up to Rs 1,081.76 crore. The objectives of the fresh issue include Rs 391 crore for repayment/prepayment of debt; Rs 103 crore to fund working capital requirement and the remaining amount to be used for general corporate purposes and inorganic growth. Ahead of the IPO, Indegene on Friday, 3 May 2024, raised Rs 548.77 crore from anchor investors. The board allotted 1.21 crore shares at Rs 452 each to 36 anchor investors. Indegene provides digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies. The company assists in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing. The company provides services such as enterprise commercial solutions, omnichannel activation, enterprise medical solutions and enterprise clinical solutions and consultancy services. The firm reported a net profit of Rs 241.90 crore and sales of Rs 1,916.61 crore for the nine months ended on 31 December 2023. Powered by Capital Market - Live News
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