Indegene IPO, supported by Carlyle, is scheduled to launch on May 6: Verify important dates, the pricing range, and other information.
Subscriptions for the Indigene IPO will begin on May 6. The offering for sale of 2.39 crore shares and a new ₹760 crore issuance make up the issue.
About Indegene IPO:
On May 6, 2024, subscriptions for Indegene, which is sponsored by private equity (PE) firms Carlyle and Nadathur Fareast, will be accepted. As stated in the red herring prospectus (RHP) that the business filed, the digital services provider for the health sciences sector’s maiden public offering will be up for bids until May 8, 2024.
Drug development, clinical trial assistance, regulatory filings, pharmacovigilance, complaint handling, and sales and marketing support are all provided by Indigene.
Details of the Indigene IPO:
This is a book-built issue. The issuance consists of a 2.39 crore share offer for sale and a new issue of ₹760.00 crore. On Thursday, May 9, 2024, the allotment for the Indigene IPO is anticipated to be completed. Monday, May 13, 2024 is the tentative listing date for the Indigene IPO, which would go public on the BSE and NSE. Price ranges for the Indigene IPO have not yet been disclosed. According to certain media sources, the size of the IPO issuance could be between ₹1,750 and 2,500 crores.
According to the RHP, the global PE firm Carlyle-backed CA Dawn Investments, which owns 20.42 percent of the shares of Indegene, is the second-largest stakeholder, after Infosys co-founder Nadathur S. Raghavan’s PE firm Nadathur Fareast Pte Ltd, which possesses a 23.64 percent interest on a fully diluted basis.
The private firm has set aside up to fifty percent of the net issue size for qualified institutional buyers (QIB), fifteen percent for high-net-worth people who are not institutional investors, and thirty-five percent for retail investors in its public offering.
Important Parties, Use of Proceeds, and Goals
The book running lead managers of the Indigene IPO are Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, and Nomura Financial Advisory And Securities (India) Pvt Ltd. The registrar for the offering is Link Intime India Private Ltd.
The company, situated in Bengaluru, plans to use the net proceeds to finance the following goals:
Funding the Company’s capital expenditure needs as well as those of one of the Material Subsidiaries, Indegene, Inc.; General corporate purposes and inorganic expansion; Repayment and prepayment of ILSL Holdings, Inc.’s debt.
Details of Indegene Company:
Indegene is a research and experimental development organisation focused on engineering and natural sciences, founded in 1998. It is present throughout the world in China, Japan, India, the US, the UK, and Europe. It offers solutions for learning and development, medical transformation, data and analytics, enterprise marketing, product commercialization, and customer experience.
It mostly serves makers of medical devices and biotech industries. According to the company’s official website, Indegene is trusted daily by a number of top international healthcare organisations to achieve clinical, medical, and commercial outcomes in an effective and efficient manner. Between March 31, 2022, and March 31, 2023, Indegene Limited’s profit after tax (PAT) increased by 63.43 percent, while its revenue increased by 39.85 percent. The following categories can be used to roughly group the company’s services:
- Commercial Enterprise Solutions
- Single-channel initiation
- enterprise medical solutions are offered.
- Consulting services as well as clinical solutions are also offered.
Created by- Charchit Priyam
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