Important Indegene IPO details1] Indegene IPO GMP: Shares of the company are available at a premium of ₹260 in the grey market today, say market observers.
3] Indegene IPO date: The book build issue opened on Monday this week and bidding for the public issue will end today evening.
4] Indegene IPO size: The Indegene IPO is a well-structured combination of fresh shares and OFS, with the company aiming to raise a substantial amount of ₹1841.76 crore.
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.
7] Indegene IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of Indegene IPO.
Indegene IPO day 3: Breaking the Lok Sabha election jinx in the primary market, the initial public offering (IPO) hit the primary market on 6th May 2024 i.e. on Monday this week. As per the Indegene IPO subscription status , the public issue has been fully subscribed and it has received strong response from investors across segments. Meanwhile, after strong response by the primary market investors, the 'grey market premium' of Indegene IPO has risen on the last date of bidding. The 'grey market premium' refers to the difference between the IPO price and the price at which the shares are trading in the grey market. According to stock market observers, shares of the Indegene Ltd are available at a premium of ₹260 in the grey market today.
Indegene IPO subscription status
By 11:54 AM on day 3 of bidding, the public issue had been booked 10.99 times, whereas the retail portion had been subscribed 5.19 times. The NII portion has been booked 31.06 times, while the QIB portion was booked 6.13 times.
Important Indegene IPO details
1] Indegene IPO GMP: Shares of the company are available at a premium of ₹260 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 opened on Monday this week and bidding for the public issue will end today evening.
4] Indegene IPO size: The Indegene IPO is a well-structured 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, a clear indication of 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 strategic financial structure of the IPO reflects Indegene's thoughtful approach to its public offering, a detail that potential investors should consider.
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. This means that the minimum number of shares an investor can apply for is 33.
View Full Image Infographic: Courtesy mintgenie
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. The registrar plays a key role in the IPO process, including handling share allotment, refund, and other related activities.
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', which mandates that shares must be listed on the stock exchange within three business days of the IPO closing, the most likely date for share listing is 13th May 2024.
Indegene IPO: Should you apply?
10] TBO Tek IPO review: Giving a 'subscribe' tag to the mainboard IPO, which is a recommendation for potential investors to apply for the IPO, Ventura Securities said, "Indegene's suite of solutions encompasses enterprise commercial, medical, and clinical solutions, catering to the diverse needs of life sciences companies. With a workforce of 5181 employees and a global footprint spanning North America, Europe, and Asia, the company is well-positioned to meet the evolving needs of its clients. Moreover, Indegene has carved out a unique niche in the market, boasting nearly 98% of global revenue and demonstrating strong growth potential with an anticipated average CAGR of 6.5% in the coming years. Overall, Indegene's blend of domain expertise and technological prowess positions it as a key partner for life sciences companies seeking to thrive in an increasingly digital-driven landscape."
SBICAP Securities has given a strong 'subscribe' recommendation to this public issue, stating, "Valuation: The company is valued at an annualized FY24 P/E multiple of 30.5x based on the upper price band on the post-issue capital. The company operates with a unique business model and has strategic client relationships with 20 of the Top 20 global biopharmaceutical companies in FY23. The company recorded a strong PAT CAGR of 12.7% between FY21-FY23 and is expected to become net debt free post issue. We highly recommend investors to SUBSCRIBE to the issue." This positive endorsement from a reputable financial analyst should instill confidence in potential investors.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, and not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
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