Bangalore, May 2nd, 2024: Indegene Limited, a prominent player in the healthcare solutions sector, has revealed plans for its much-anticipated initial public offering (IPO) set to commence on May 6, 2024. The IPO, scheduled to conclude on May 8, presents an opportunity for investors to delve into a dynamic market segment with substantial growth potential.
The price band for the IPO has been established between ₹430 to ₹452 per equity share, with bids accepted in multiples of 33 equity shares, ensuring accessibility for a wide range of investors. The offering comprises a Fresh Issue of equity shares amounting to ₹7,600 million, alongside an offer for sale of up to 23,932,732 Equity Shares.
The proceeds from the IPO’s Fresh Issue will be allocated towards strategic initiatives, including the repayment/prepayment of debts for Indegene’s Material Subsidiaries, ILSL Holdings, Inc., as well as funding capital expenditures for both the Company and Indegene, Inc., among other corporate objectives.
Under the Book Building Process, a significant portion of the offering is earmarked for Qualified Institutional Buyers (QIBs), with an option for Anchor Investors to secure up to 60% of the QIB Portion. Non-Institutional Bidders and Retail Individual Bidders also have designated allotments, ensuring fair participation across investor categories.
Employees have been extended a special reservation, allowing them to subscribe to equity shares at a discounted rate of ₹30 per share through the Employee Reservation Portion.
Indegene Limited has obtained preliminary approvals for the listing of its equity shares on both BSE and NSE. The book running lead managers for the IPO include Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited.
With the IPO set to open next week, investors are poised to seize this opportunity to become part of Indegene Limited’s promising journey in the healthcare solutions domain.
