Indegene IPO To Raise Rs 1,841 Cr Opens On 06 May
The Rs 1,841 book-built issue consists of fresh issuance worth Rs 760 crore and OFS worth Rs 1,081 crore with a price band of Rs 430 to 452
Indegene, the digital services provider for the life science industry, opened its initial public offering (IPO) for public bids on 06 May with an attempt to raise Rs 1,841 crore with its combination of fresh issue and offer-for-sale component (OFS).
The IPO window for public subscription will remain open from 06 May to 08 May. The allotment for the issue is scheduled on 09 March, followed by listing on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 13 May.
The Rs 1,841 book-built issue consisted of fresh issuance worth Rs 760 crore and OFS worth Rs 1,081 crore with a price band of Rs 430 to 452.
Retail investors can bid for one lot consisting of 33 shares with the minimum investment amount of Rs 14,916 and multiples thereafter to a maximum of 13 lots.
Kotak Mahindra Capital, Citigroup Global Markets, J.P. Morgan and Nomura Financial Advisory and Securities are the book running lead managers, while Link Intime India is the registrar to the issue.
The promoters cumulatively own over 30 per cent stake in the firm which will be further diluted post-IPO.
IPO Objectives
The company proposed to utilise net proceeds of Rs 760 crore to repay debt of one of the material subsidiaries, ILSL Holdings and funding the capex requirements OF the firm and material subsidiaries.
The proceeds will also be used for inorganic growth, and general corporate purposes.
Firm’s Financials
The firm registered revenue of Rs 2,364 crore in FY23, compared to Rs 1,690 crore in FY22. The firm’s profit after tax (PAT) increased to Rs 266 crore in FY23 compared to Rs 162 crore in FY22. Overall, revenue and PAT increased by 39.85 per cent and 63.43 per cent respectively.
