Produced by: Pawan Kumar Nahar
Aptech
Indegene IPO: All details you need know including price band, key dates & latest GMP
Indegene IPO: dates and price band
The initial public offering (IPO) on Indegene Ltd opens today on May 6 and can be subscribed till Wednesday, May 8. The company is offering its shares in the range of Rs 430-452 apiece, with a lot size of 33 equity shares and its multiples thereafter
Issue Size
Indegene is looking to raise a total of Rs 1,841.76 crore via IPO including a fresh share sale of Rs 760 crore and offer for sale (OFS) of up to 2,39,32,732 equity shares. The company raised Rs 548.78 crore from anchor investors.
Category Reservation
Indegene has reserved shares worth Rs 12.5 crore for its eligible employees, who will get a discount of Rs 30 per share. Of the net offer, 50% shares are reserved for the qualified institutional bidders (QIBs), 15% per for non-institutional investors (NIIs) and 35% for the retail investors.
Grey Market Premium
On the first day of the bidding, shares of Indegene were commanding a grey market premium (GMP) of Rs 260-265 apiece, suggesting a listing gain of 57-58% to the investors on the upper end of the price band.
Dates of Allotment and listing
Indegene is likely to finalise the basis of allotment of its shares on Thursday, May 9. The company will make its Dalal Street debut on Monday, May 13 on both BSE and NSE.
Objectives of IPO
The net proceeds for the issue shall be utilized towards repayment/prepayment of debt; funding the capital expenditure requirements of the company; and general corporate purposes and inorganic growth. Proceeds from OFS shall go to selling shareholders.
Managers and Regsistrars
Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India and Nomura Financial Advisory and Securities (India) are the book running lead managers of the Indegene IPO, while Link Intime India is the registrar for the issue.