IPO

Indegene Limited IPO

Mainboard

Healthcare Research, Analytics & Technology

Listed On: May 13, 2024 at ₹ 655.0(NSE)

₹ 14916 /33 Shares

Check Allotment

Price Summary

Last Closing

643.50 (42.37%)

52 Week High

726.50

52 Week Low

470.10

Last Update

19-Sep-2024 3:30 PM

Indegene Limited IPO Details

06 May, 2024

Open Date

08 May, 2024

Close Date

09 May, 2024

Allotment Date

13 May, 2024

Listing Date

Issue Price

₹430-452 per equity share

Face Value

₹2 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

655.0(NSE)

Listing Date

2024-05-13

Market Lot

Retail : 33 Shares (₹14,916/-)
S-HNI : 462 Shares (₹2,08,824/-)
B-HNI : 2,244 Shares (₹10,14,288/-)

Lead Manager

Kotak Mahindra Capital Company Limited
Citigroup Global Markets India Private Limited
J.P. Morgan India Private Limited
Nomura Financial Advisory And Securities (India) Pvt Ltd

Issue Size

Total ₹1,841.76 Cr :
#Fresh Issue : 16,814,159 shares(aggregating up to ₹760.00 Cr) +
#OFS : 23,932,732 shares of ₹2(aggregating up to ₹1,081.76 Cr)

Retail Portion

35% (Number of Retail Applications: 4,29,231 Approx),
(Number of S-HNI Applications : 4,380 Approx),
(Number of B-HNI Applications : 8,760 Approx)

Subscription

69.91 times

Indegene Limited IPO Subscription Details

As onQIBNII
bNII   sNII
RetailTotal
Shares Offered / Reserved8,094,0696,070,552
4,047,034    2,023,518
14,164,62028,625,340
Day 1 - 06-05-24 05:00 PM0.05 x4.14
4.15 x   4.10 x
1.50 x1.67 x
Day 2 - 07-05-24 05:00 PM5.59 x18.03
19.26 x   15.56 x
3.82 x7.35 x
Day 3 - 08-05-24 07:00 PM197.55 x55.07
60.96 x   43.30 x
7.95 x69.91 x
Total No. of Applications: 27,93,616 (Approx)
Retail Subscription on the basis of Applications: Retail:6.51x BHNI:11.53x SHNI:39.61x times

Indegene Limited Valuations

EPS Pre IPO

₹11.96/-

EPS Post IPO

₹13.48/-

P/E Pre IPO

37.78

P/E Post IPO

33.53

RoNW

18.23%

Indegene Limited Company Financials All values are in ₹ Cr.

31-Dec-2331-Mar-2331-Mar-2231-Mar-21
Assets2,518.152,203.871,353.47596.04
Revenue1,969.752,364.101,690.50996.92
Profit After Tax241.90266.10162.82149.41
Net Worth1,327.001,063.72763.90324.51
Reserves & Surplus1,282.651,019.43763.55324.19
Total Borrowing399.33394.3418.2424.76

About The Company

Founded in 1998, Indegene Limited provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.

The company's services can be divided into following categories:
Enterprise Commercial Solutions
Omnichannel Activation
Enterprise Medical Solutions
Enterprise Clinical Solutions and consultancy services

The subsidiary of the company, DT Associates Limited, provides consulting services under the DT Consulting brand. It helps life sciences companies manage their digital transformation efforts to ensure continued success in customer experience.

The company received the Platinum Level award at the 2023 Healthy Workplace Conference and Awards, a recognition given by Arogya World India Trust in partnership with the Public Health Foundation of India.

As of December 31,2023, the company had 65 clients actively engaged with its services.

As of December 31, 2023, the company employed 5,181 people worldwide. Of these, 4,461 are based in India, 530 work in North America, 105 in Europe, 73 in China, and 12 in other regions.

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Indegene Limited - Strength and Weakness

Strength

Indegene Limited possesses deep domain expertise in the healthcare industry, enabling efficient modernisation and digitisation of life sciences commercialisation processes. With a team comprising individuals with healthcare-related educational backgrounds and extensive industry experience, Indegene leverages its knowledge to optimise sales, marketing, and regulatory processes, driving value for its clients.

Indegene has developed a suite of proprietary tools and platforms, including AI-based applications, to drive transformation across the R&D and commercialisation lifecycle of biopharmaceutical products and medical devices. With a dedicated team of technology experts, Indegene continues to innovate and adapt technologies such as Gen AI to enhance its solutions, ensuring efficiency, effectiveness, and quality in service delivery.

Indegene boasts long-standing relationships with marquee biopharmaceutical companies, including many of the world's largest by revenue. With high client retention rates and a focus on deepening existing relationships while tapping into cross-sell and up-sell opportunities, Indegene has established itself as a trusted partner in the industry.

With operations spanning six operation hubs and 17 offices across North America, Europe, and Asia, Indegene delivers end-to-end solutions to clients worldwide. Supported by experienced management personnel with extensive healthcare industry experience, Indegene leverages its global presence and diverse talent pool to provide specialised solutions tailored to regional markets while maintaining operational excellence.

Weakness

As Indegene Limited focuses solely on the life sciences industry, its revenue streams are susceptible to shifts in industry dynamics such as outsourcing trends, healthcare reforms, and digitalisation pace. Changes in these trends, including internalisation of operations by clients or regulatory shifts impacting profitability, could lead to a decline in demand for Indegene's solutions.

A significant portion of Indegene's business comes from large clients, primarily located in North America and Europe. This concentration exposes the company to risks associated with client-specific factors and industry-wide trends. Any adverse developments impacting these key clients could affect Indegene's business and profitability.

Indegene operates in a highly regulated environment, subject to laws governing data protection, healthcare promotion, and regulatory requirements. Non-compliance with these regulations could result in legal liabilities, reputational damage, and financial consequences, posing a threat to the company's operations and financial health.

Indegene's reliance on leased premises for its operations introduces risks associated with lease renewals, early terminations, or unfavourable lease terms. Failure to renew leases or disruptions in occupancy could disrupt operations and incur additional costs, impacting the company's business continuity and financial stability.

Indegene Limited - Promoter(s)

Pre Issue Share Holding: 30.71%

Post Issue Share Holding: N/A%


Company Promoter(s)

Indegene Limited IPO - Issue Objectives

  1. Repayment/prepayment of indebtedness of one of the Material Subsidiaries, ILSL Holdings, Inc.
  2. Funding the capital expenditure requirements of the Company and one of the Material Subsidiaries, Indegene, Inc.
  3. General corporate purposes and inorganic growth.

Indegene Limited IPO - Anchor Investors

Indegene IPO: Institutional investors invest Rs 549 crore via anchor book.

The private equity firms Carlyle and Nadathur Fareast-backed Indegene informed exchanges that it has finalised allocation of 1,21,41,102 equity shares to anchor investors at a price of Rs 452 per share.

Marquee investors Smallcap World Fund Inc, Abu Dhabi Investment Authority, American Funds Insurance, Custody Bank of Japan, Destinations International Equity Fund, East Bridge Capital Master Fund, and Copthall Mauritius Investment invested in Indegene IPO via anchor book.

Further, asset management companies including SBI Mutual Fund, ICICI Prudential MF, Nippon Life India, Whiteoak Capital, DSB Mutual Fund, Bandhan Mutual Fund, Kotak Mutual Fund, and Baroda BNP Paribas Mutual Fund were also investors in the anchor book.

Even insurance companies like Aditya Birla Sun Life Insurance, Bajaj Allianz Life Insurance, and Bharti Axa Life Insurance participated in the anchor book.

Other Details

Company Contact Details

Indegene Limited

Aspen Block G4, 3 rd Floor, Manyata EmbassyBusiness Park, Outer Ring Road, Nagawara Bengaluru 560 045

Phone: +91 80 4674 4567

Email: compliance.officer@indegene.com

Website: https://www.indegene.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: indegene.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Indegene Limited IPO - FAQs

Ans. Indegene Limited IPO is a Mainboard IPO. The issue is priced at ₹430-452 per equity share. The minimum order quantity is 33 Shares. The IPO opens on May 6, 2024, and closes on May 8, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Indegene Limited IPO opens on May 6, 2024 and closes on May 8, 2024.

Ans. The size of Indegene Limited IPO is Total ₹1,841.76 Cr : #Fresh Issue : 16,814,159 shares(aggregating up to ₹760.00 Cr) + #OFS : 23,932,732 shares of ₹2(aggregating up to ₹1,081.76 Cr).

Ans. The IPO price band is set between ₹430-452 per equity share.

Ans. To apply for Indegene Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Indegene Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Indegene Limited IPO is May 9, 2024.

Ans. The Indegene Limited IPO will be listed on May 13, 2024.

Ans. Follow the steps to check the allotment status for Indegene Limited IPO here.