Indegene IPO: The public is now able to subscribe to Indegene's initial public offering (IPO), which is a prominent supplier of digital commercialization services in the life sciences sector. Bids on the IPO may be placed through May 9; it began for business on Monday. Major investors contributed around Rs 549 crore to the firm prior to the IPO debut.
Indigene IPO: Notable anchor financiers
Top investors in the anchor round, according to ET, include, among others, Capital Group, Fidelity Investments, Jupiter Asset Management, Loomis Sayles and Company, Abu Dhabi Investment Authority, SBI Mutual Fund, and ICICI Prudential Mutual Fund.
Details of the Indigene IPO
The IPO comprises of an offer for sale (OFS) of up to 2.93 crore shares from current investors in addition to a fresh equity issuance valued at up to Rs 750 crore.
Manish Gupta, Rajesh Bhaskaran Nair, Anita Nair, Carlyle, Brighton Park Capital, and the Nadathur Family Office are among the people who would sell some of their shares as part of the offer for sale (OFS).
Using money in an Indigene IPO
The funds collected from the new stock issuance will be utilized to finance future growth, support general business operations, make a delayed payment for a previous purchase, pay off debt, and meet capital expenditure demands.
Indigene IPO: Suggested Actions
Analysts are upbeat about Indegene's initial public offering (IPO), arguing that it presents a unique opportunity for capitalizing on a market leader offering digital commercialization services to the life sciences industry.
Mehta Equities advises investors seeking long-term returns to subscribe to the initial public offering (IPO). Should the stock climb by more than 25% after listing, cautious investors may want to consider selling at a profit.
In a similar vein, SMIFS predicts that pharmaceutical outsourcing will expand more quickly than the sector as a whole, with biopharmaceuticals projected to surpass traditional pharma. This should result in significant growth, along with the company's goals for capital spending and debt reduction. They also advise subscribing to the IPO for these reasons.
Details and pricing band for the Indigene IPO
The pricing range that Indegene has established for its first public offering is Rs 430–452. Up to Rs 1,842 crore might be raised by the IPO if it is priced at the high end.
Overview of the company Indegene
Indegene was established in 1998 and offers products development, launch, and sales support solutions to biopharmaceutical, biotech, and medical device firms.
The business assists life science firms with clinical trials, regulatory compliance, safety operations, product launches, and continuing sales and marketing by using its more than 20 years of healthcare experience and technological know-how.
Indegene's activities yielded revenue of Rs 1,969 crore, and the company made a profit after tax of Rs 241 crore for the period ending December 2023.
The lead managers for this IPO are prominent players Kotak Mahindra Capital, Citigroup Global Markets India, J.P. Morgan India, and Nomura Financial Advisory and Securities (India).
