Indegene Limited is launching its IPO. The IPO opens for subscription on 6th May and will close on 8th May 2024.
What does Indegene Limited do?
Incorporated in 1998, Indegene Limited provides digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies, and assists them with drug development and clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing of their products.
As of December 31, 2023, the company had 65 active clients and delivers solutions through its various operation hubs located across North America, Europe, and Asia and has established client relationships with each of the 20 largest biopharmaceutical companies in the world by revenue for the Financial Year 2023 (Source: Everest Report).
What is the issue size of the Indegene Limited IPO?
The 1841.76 crore public offer of the company is a combination of a Fresh equity issue worth 760 crore and an offer for sale (OFS) worth Rs. 1081.76 crore from the existing shareholders.
Financials of Indegene Limited IPO (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EPS |
|---|---|---|---|---|
| March 31, 2021 | 596.04 | 996.92 | 149.41 | 7.56 |
| March 31, 2022 | 1,353.47 | 1,690.50 | 162.82 | 7.50 |
| March 31, 2023 | 2,203.87 | 2,364.10 | 266.10 | 12.03 |
| December 31, 2023 | 2,518.15 | 1,969.75 | 241.90 | 10.91 |
Schedule/Timeline of Indegene Limited IPO
| Issue Period | 6th May to 8th May 2024 |
|---|---|
| Price band | ₹ 430 to 452 |
| Minimum Bid quantity | 33 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | May 09, 2024 |
| Initiation of Refunds | May 10, 2024 |
| Credit of Shares | May 10, 2024 |
| Date of Listing | May 13, 2024 |
| Mandate end date | May 23, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | June 09, 2024 |
Anchor Investors Lock-In End Date (Remaining investment) August 09, 2024
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
Risk factors to consider:
Dependence on one industry and large clients: As the business is solely focused on the life sciences industry and a significant portion of the business is attributable to certain large clients located in North America and Europe with the top 5 clients contributing nearly 48% of operational revenues, the Company’s business and profitability are dependent on factors affecting the life sciences industry and its continuing relationships with such key clients.
Competitive and unfamiliar business: The life sciences operations industry is highly competitive, and it is difficult to predict its future prospects. The company’s business and revenue models may be unfamiliar to prospective investors.
How do I apply to the Indegene Limited IPO?
You can apply for the Indegene Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
Where do I check the allotment status for Indegene Limited IPO?
You can check the allotment status for the Indegene Limited IPO on the website of the Registrar and Transfer agent.
Alternatively, you can also check the allotment status on the NSE website.