On Monday, Indegene Limited made a splashy debut on the stock markets, going public at a 45 percent premium over its issue price. The National Stock Exchange (NSE) commenced trading for the company's shares at Rs 655Â. Indigene shares were listed on the Bomaby Stock Exchange (BSE) for Rs 659.70, which is 46.95% more than their issue price of Rs 452 a share.
According to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., Indegne defied market criticism and had a fantastic launch on the stock markets. "The company's shares are listed at a staggering Rs. 655 per share, translating to a phenomenal 45% gain over its issue price of Rs. 452," Nyati stated.
She further said that the impressive listing of Indegene shares comes on the back of a strong investor response, with the IPO receiving an overwhelming 70 times subscription.
"Long term investors are suggested to hold their position by keeping stoploss and continue monitoring the company's performance and market conditions," Nyati suggested.
She highlighted that the company's robust technology portfolio and focus on digital-led services position it well for future success in a rapidly evolving market.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, attributed Indegene's strong listing to its specialised services for the life sciences industry and deep expertise across pharmaceutical marketing, clinical trials, pharmacovigilance, regulatory affairs, and health informatics, benefiting its clientele significantly.
