Indegene was incorporated on October 16, 1998. The company offers digital-led commercialization services for the life sciences industry, serving biopharmaceutical companies, emerging biotech, and medical devices companies. It assists these entities with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of their products.
| Bidding Dates |
|---|
| 06 May 2024 - 08 May 2024 |
| Subscription |
|---|
| 69.91x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,190 | 1 | 13 | 33 | 40.7 M | ₹430 - ₹452 | - | ₹17521.2 M - ₹18417.6 M | RHP DOC |
Indegene IPO SUBSCRIPTION STATUS
08 May '24Indegene IPO overall subscription rate was 69.91 times the total available shares
Indegene IPO retail subscription rate was 7.95 times in the retail segment
Indegene IPO non-institutional investor subscription rate was 55.07 times in the non-institutional investor category
Indegene IPO Qualified Institutional Bidder subscription rate was 197.55 times the available shares for Qualified Institutional Bidder
Indegene IPO Employees subscription rate was 6.48 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
08 May 2024 (Day 3) | 7.95x | 55.07x | 197.55x | 6.48x |
07 May 2024 (Day 2) | 3.82x | 18.03x | 5.59x | 3.18x |
06 May 2024 (Day 1) | 1.5x | 4.14x | 0.05x | 1.31x |
Indegene FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 2,419.0 | 19,166.1 | 3,542.7 | 3,453.0 | 21.9% |
| 9MFY23 | 2,172.8 | 16,738.9 | 745.1 | 695.9 | 20.5% |
| FY23 | 2,661.0 | 23,061.3 | 1,302.2 | 1,113.8 | 19.7% |
| FY22 | 1,628.2 | 16,646.1 | 2,970.4 | 2,723.3 | 18.8% |
| FY21 | 1,494.1 | 9,662.7 | 1,720.3 | 1,514.2 | 27.0% |
Indegene IPO SUBSCRIPTION STATUS DETAILS
Indegene had 40.7 M shares on offer
Indegene IPO offer price was in the range ₹430 - ₹452
Indegene IPO minimum Investment was ₹14190
Indegene IPO issue size was ₹ 17521.2 M - ₹ 18417.6 M
Indegene had a minimum lot size of 33 Shares per application
Indegene NUMBER OF SHARES ON OFFER
Indegene IPO IMPORTANT DATES
| Issue Open Date | 06 May 2024 |
| Issue close Date | 08 May 2024 |
| Allotment Date | 09 May 2024 |
| Refund Date | 10 May 2024 |
| Demat Account Credit Date | 10 May 2024 |
| Listing Date | 13 May 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Indegene Allotment Status | Exchange |
Indegene IPO subscription opened on 06 May 2024, and closed on 08 May 2024
IPO allotment for Indegene was finalized on Thursday, 09 May 2024
IPO listing for Indegene was on NSE and BSE on Monday, 13 May 2024
Indegene IPO LISTING GAINS
| Issue Price (adjusted) | 452.0 |
| Listing Open Price | 655.0 |
| Listing Close Price | 570.9 |
| Listing Gain% | 44.9% |
| Current Gain% | 22.7% |
Indegene Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indegene Ltd. | 554.4 | 13265.2 | 33.3 | -4.2 | 3.5 | 12.8 | 8.7 | 3582.5 | 21.6 | 401.1 | -1.4 | 16.6 | -7.9 |
| Dr. Lal Pathlabs Ltd. | 1931.6 | 32421.7 | 59.8 | 10.7 | 11.2 | 20.1 | 16 | 2864.2 | 12.1 | 504.8 | 3.6 | 32.3 | 5.6 |
| Inventurus Knowledge Solutions Ltd. | 1737.7 | 29814.3 | 39 | 1 | 8.9 | 25.8 | 16.9 | 3211 | 18.8 | 721.6 | 48.4 | 44.5 | 40.9 |
| Vijaya Diagnostic Centre Ltd. | 1351.1 | 13916 | 74.2 | 3 | 16.2 | 18.1 | 11.5 | 835 | 19.3 | 173 | 20.9 | 18.2 | 24.9 |
| Metropolis Healthcare Ltd. | 563.2 | 11680.1 | 57.9 | 1.8 | 6.8 | 12.6 | 8.9 | 1671.4 | 24.1 | 190 | 31.1 | 9.7 | 32.6 |
| Thyrocare Technologies Ltd. | 603.2 | 9601.6 | 54.5 | 0.8 | 11 | 27.8 | 21.8 | 846 | 20.5 | 163 | 78.2 | 11.1 | 65.7 |
Indegene INFORMATION ON IPO ISSUE
About Indegene
Indegene was incorporated on October 16, 1998. The company offers digital-led commercialization services for the life sciences industry, serving biopharmaceutical companies, emerging biotech, and medical devices companies. It assists these entities with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of their products.
Object of the Issue
- Repayment/prepayment of indebtedness of one of the material subsidiaries, ILSL Holdings.
- Funding the capital expenditure requirements of the company and one of its material subsidiaries.
- General corporate purposes and inorganic growth.
Indegene Book Running Lead Manager
Kotak Mahindra Capital Company Limited
indegene.ipo@kotak.com
Citigroup Global Markets India Private Limited
indegene.ipo@citi.com
J.P. Morgan India Private Limited
INDEGENE_IPO@jpmorgan.com
Nomura Financial Advisory and Securities (India) Private Limited
indegeneipo@nomura.com
Indegene Registrar to the Offer
Link Intime India Private Limited
indegene.ipo@linkintime.co.in
Indegene Strengths
Domain expertise
The company's deep understanding of the healthcare domain enables it to efficiently modernize and digitize key functions involved in the life sciences commercialization process
Robust digital capabilities
The company has developed a suite of proprietary tools and platforms that include applications designed to automate processes and create AI-based efficiencies. These applications leverage AI, machine learning (ML), natural language processing (NLP), and advanced analytics capabilities, which are core components of the solutions offered
Long-standing client relationships
The company has long-standing relationships with marquee biopharmaceutical companies, including each of the 20 largest biopharmaceutical companies in the world by revenue for FY23
Global delivery model
The company caters to the needs of its clients from six operation hubs and 17 offices located across North America, Europe, and Asia
Indegene Risks
Dependent on subsidiaries
The majority of the company's revenues are derived from its subsidiaries. Therefore, any disruptions in the operations of one or more of its subsidiaries could adversely affect the business, financial condition, and results of operations
Sales efforts
The company's sales efforts involve considerable time and expense, and there is a risk that the revenues generated may not justify the expenses incurred towards these sales efforts
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its subsidiaries, and directors. Any adverse decision in these proceedings could adversely affect the business and results of operations
Contingent liabilities
The company has certain contingent liabilities and commitments that, if realized, may adversely affect its financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,081.8 crore, of 23,932,732 shares. It also consists of a fresh issue of Rs 760.0 crore.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 430.0 - 452.0.
The IPO application opens on May 06, 2024 and closes on May 08, 2024.
The minimum lot size for the IPO is 33. The maximum lot size for the IPO is 429.
For all category investors, the minimum application amount for this IPO is Rs. 14,190.0, the maximum value for this IPO is Rs 193,908.0.
This IPO will be allotted on May 09, 2024.
The refund will be credited to your account on May 10, 2024.
The allotted shares will be credited to your demat on May 10, 2024.
Indegene Ltd.’s shares listed on the stock exchanges on May 13, 2024.