May 6, 2024
By: Sourabh Jain
Credit: Indegene Limited
Bengaluru-based Indegene Limited’s initial public offering (IPO) opened on Monday, May 6, and will close on Wednesday, May 8.
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Indegene Limited has fixed a price band of ₹430-₹452 per share for its public issue.
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Indegene Limited is a Bengaluru-based company that provides services to biopharmaceutical, emerging biotech and medical device companies. The company helps in drug development, setting up clinical trials, pharmacovigilance and more.
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Indegene Limited is looking to raise ₹1841.76 crore from the current IPO. This includes a fresh issue of ₹760 crore and an offer for sale (OFS) component of ₹1,081.76 crore.
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Investors can bid for a minimum of 33 shares and in multiples of 33 shares thereafter.
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The company has over 20 years of experience in the healthcare industry. It has 17 offices across the world and includes over 5,000 employees.
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The company’s income was ₹2364.10 crore in FY23, up from ₹1690.5 crore in FY22. The company reported a net profit of ₹266.1 crore in FY23, up from ₹162.82 crore in FY22.
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As the company deals in the life sciences industry, and usually, the ever-changing global regulatory landscape poses a significant risk to the business. Additionally, the company deals in a highly competitive market.
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A significant portion of the company’s revenue comes from clients in North America and Europe. Any disruption in these markets may have a significant impact on the company.
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The IPO was subscribed 1.67 times at the end of day one.
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