29-Apr-2024
2 mins read
Indegene Limited IPO is open for subscription starting Monday, May 6, 2024, and closing on Wednesday, May 8, 2024. The price is decided at Rs 430 to Rs 452 per share. The minimum lot size of this IPO application for the retail category is 33 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 462 shares. Meanwhile, the minimum lot for big non-institutional investors is 68 lots with 2,244 shares. The minimum investment required for retail category investors is Rs 14,916 (452 x 33 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,08,824 (452 x 462 shares); for big non-institutional investors, it is Rs 10,14,288 (452 x 2244 shares).
Indegene IPO is a book-built issue of Rs 1,841.76 crores. The issue is a mix of fresh issue and offer-for-sale. The fresh issue consists of 1.68 crore shares amounting to Rs 760 crore. The offer for sale consists of 2.39 crore shares amounting to Rs 1,081.76 crores. The allotment for this IPO is expected to be finalised on Thursday, May 9, 2024. Indegene Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Monday, May 13, 2024. The book-running lead managers of Indegene Limited are Kotak Mahindra Capital Limited, City Group Global Market India Private Limited, J.P Morgan India Private Limited, Nomura Financial Advisory and Securities Private Limited. The registrar for this new IPO is Link Intime India Private Limited.
About Indegene Limited Company Profile
Indegene Limited was founded in 1998, engaged in the business of providing digital services for the life science industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaint management, sales and marketing support. Indegene Limited services can be divided into four major categories – Enterprise Commercial Solutions, Omnichannel activation, Enterprise Medical Solutions, Enterprise Clinical Solutions and Consultancy services. Indegene’s subsidiary DT Associates provides consultancy services under brand name DT consulting. It helps life science companies to manage their digital transportation efforts to ensure good customer experience. As per latest record available, Indegene had 65 clients actively engaged with its services. As of December 31, 2023, they had a team of 5,181 people worldwide. Out of these, 4,461 are based in India.
Objectives of Indegene Limited IPO
The net amount received from this Initial public offer will be used to repay/prepay the money to one of the material Subsidiaries, ILSL Holdings. The remaining will be used to fund the W.C requirements. Moreover, the IPO amount will be utilised in general corporate purposes and inorganic growth.
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Financials of Indegene Limited (Amt in Rs Crore)
Indegene reported a revenue of RS 1,969.75 crore and net profit of Rs 241.90 crore for the quarter ended on 31 December 2023. Between the FY ending on March 31, 2023 and March 31, 2022, Indegene’s revenue increased by 39.85% and PAT increased by 64.43%.
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 2,518.15 | 2,203.87 | 1,353.47 | 596.04 |
| Revenue | 1,969.75 | 2,364.10 | 1,690.50 | 996.92 |
| Profit After Tax | 241.9 | 266.1 | 162.82 | 149.41 |
| Net Worth | 1,327.00 | 1,063.72 | 763.9 | 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 |
Other Important Details of Indegene Limited IPO
| IPO Date | May 6, 2024 to May 8, 2024 |
| Listing Date | 13-May-24 |
| Face Value | Rs 2 per share |
| Price Band | Rs 430 to Rs 452 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 40,746,891 shares amounting to Rs 1,841.76 crore |
| Fresh Issue | 16,814,159 shares amounting to Rs 760 crore |
| Offer for Sale | 23,932,732 shares of Rs 2 amounting to Rs 1,081.76 crore |
| Employee Discount | Rs 30 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 222,435,091 |
| Shareholding post issue | 239,249,250 |
Time-Table of Indegene Limited IPO
| IPO Open Date | Monday, May 6, 2024 |
| IPO Close Date | Wednesday, May 8, 2024 |
| Basis of Allotment | Thursday, May 9, 2024 |
| Initiation of Refunds | Friday, May 10, 2024 |
| Credit of Shares to Demat | Friday, May 10, 2024 |
| Listing Date | Monday, May 13, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 8, 2024 |
Lot Size of Indegene Limited IPO
| Application | Lots | Shares | Amount |
| Retail - minimum | 1 | 33 | Rs 14,916 |
| Retail - maximum | 13 | 429 | Rs 193,908 |
| S-HNI - minimum | 14 | 462 | Rs 208,824 |
| S-HNI - maximum | 67 | 2,211 | Rs 999,372 |
| B-HNI - minimum | 68 | 2,244 | Rs 1,014,288 |
IPO Reservation of Indegene Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 50 percent of the Issue |
| Retail Shares | Not less than 35 percent of the Issue |
| NII (HNI) Shares | Not more than 15 percent of the Issue |
Promoters Holdings of Indegene Limited
| Shareholding Pre Issue | 30.71 percent |
| Shareholding Post Issue | - |
Key Performance Indicator of Indegene Limited IPO
| KPI | Values |
| Debt/Equity | 0.3 |
| RoNW | 18.23% |
| P/BV | 7.55 |
| PAT Margin | 12.62% |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 11.96 | 13.48 |
| P/E (x) | 37.78 | 33.53 |
Lead Manager(s) of Indegene Limited IPO
The lead manager for Indegene Limited IPO is Kotak Mahindra Capital Limited, City Group Global Market India Private Limited, J.P Morgan India Private Limited, Nomura Financial Advisory and Securities Private Limited.
How do you apply for the Indegene Limited IPO?
Wait for the public issue to open for subscription, then visit Bigul website to apply for the Indegene Limited IPO with Bigul.
How do you check the allotment status of Indegene Limited IPO?
The registrar for Indegene Limited IPO is Link Intime India Private Limited. To check your allotment status, please click here.
FAQs
- What is Indegene Limited IPO 2024?
Indegene IPO is a book-built issue of Rs 1,841.76 crores. This IPO issue is a mix of fresh issue and offer-for-sale. The fresh issue consists of 1.68 crore shares amounting to Rs 760 crore. The offer for sale consists of 2.39 crore shares amounting to Rs 1,081.76 crores.
- Who are the lead managers for the Indegene Limited IPO?
The lead manager for Indegene Limited IPO is Kotak Mahindra Capital Limited, City Group Global Market India Private Limited, J.P Morgan India Private Limited, Nomura Financial Advisory and Securities Private Limited.
- What is the role of Link Intime India in this IPO?
Link Intime India Private Limited is the registrar for Indegene Limited, handling the IPO's administrative aspects.
- How can I apply for the Indegene Limited IPO?
The public subscription of this IPO will open on May 6, 2024. Visit the Bigul website for the application process.
- How will the net proceeds from the IPO be utilised?
The net amount received from this Initial public offer will be used to repay/prepay the money to one of the material Subsidiaries, ILSL Holdings. The remaining will be used to fund the W.C requirements. Moreover, the IPO amount will be utilised in general corporate purposes and inorganic growth.
- How can I check the allotment status of the IPO?
Investors can check out the allotment status of the Indegene Limited IPO 2024 by visiting here.
- What is the financial performance of Indegene Limited?
Indegene reported a revenue of RS 1,969.75 crore and net profit of Rs 241.90 crore for the quarter ended on 31 December 2023. Between the FY ending on March 31, 2023 and March 31, 2022, Indegene’s revenue increased by 39.85% and PAT increased by 64.43%.
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