Indegene Limited IPO

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Healthcare Research, Analytics & Technology

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

₹ 14916 /33 Shares

Check Allotment

06 May, 2024

Open Date

08 May, 2024

Close Date

09 May, 2024

Allotment Date

13 May, 2024

Listing Date

Price Summary

Last Closing

537.90 (19%)

52 Week High

681.70

52 Week Low

499.00

Last Update

18-Dec-2025 3:30 PM

Indegene Limited IPO Issue Details

Issue Price ₹430-452 per equity share
Face Value ₹2 Per Equity Share
Total Issue Size 4,07,46,891 shares(aggregating up to ₹1841.76 crore)
Fresh Share 1,68,14,159 shares(aggregating up to ₹760 crore)
Offer For Sale 2,39,32,732 shares(aggregating up to ₹1081.76 crore)
Listing at BSE, NSE
List Price 655.0(NSE)
Listing Date 2024-05-13
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
Registrar Link Intime India Private Ltd

Market Lot Size

Investors can bid for a minimum of 33 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	33	₹14,916
Retail(max)	13	429	₹1,93,908
SHNI(min)	14	462	₹2,08,824
SHNI(max)	67	2,211	₹9,99,372
BHNI(min)	68	2,244	₹10,14,288

Indegene Limited IPO Reservation

Indegene Limited IPO offers total 40,766,552 shares. Out of which 8,094,069 (19.85%) allocated to QIB, 6,070,552 (14.89%) allocated to NII,14,164,620 (34.75%) allocated to RII, 296,209 (0.73%) allocated to employees and 12,141,102 (29.78%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	12,141,102 (29.78%)
QIB Shares Offered	8,094,069 (19.85%)
NII (HNI) Shares Offered	6,070,552 (14.89%)
bNII > ₹10L	4,047,034 (9.93%)
sNII < ₹10L	2,023,518 (4.96%)
Retail Shares Offered	14,164,620 (34.75%)
Employee Shares Offered	296,209 (0.73%)
Total Shares Offered	40,766,552 (100%)

Indegene Limited IPO Documents

DRHP

RHP

ANCHOR

Indegene Limited IPO Details

Indegene Limited IPO is a book-built issue of ₹1841.76 crores, The total issue size is ₹1841.76 crores. The IPO of Indegene Limited is priced at ₹430-452 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from May 6, 2024 and ends on May 8, 2024. The allotment for Indegene Limited IPO will be finalized on May 9, 2024. Indegene Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as May 13, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 33 shares, extendable to 14,916. S-HNIs will be able to bid for 462 shares at ₹2,08,824, while B-HNIs can also apply for a bid of 2,244 shares at ₹10,14,288. The book-running lead manager for the IPO is/are 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.

The total issue ₹1841.76 crore, comprising a fresh issue of 1,68,14,159 shares ₹760 crore and having Offer for Sale (OFS) of 2,39,32,732 shares to mop up ₹1081.76 crore.

The Indegene Limited IPO sets its price band at 430-452 for each share. A single application for Indegene Limited IPO must contain at least 33 shares. Sentiment investors need to invest a minimum of 33 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,916 In order to participate in the sNII, investors must purchase at least 14 lots of 462 shares for ₹2,08,824, while the bNII requires 68 lots of 2,244 shares for an investment of ₹10,14,288.

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	8,094,069	6,070,552 4,047,034 2,023,518	14,164,620	28,625,340
Day 1 06-05-24 05:00 PM	0.05 x	4.14 4.15 x 4.10 x	1.50 x	1.67 x
Day 2 07-05-24 05:00 PM	5.59 x	18.03 19.26 x 15.56 x	3.82 x	7.35 x
Day 3 08-05-24 07:00 PM	197.55 x	55.07 60.96 x 43.30 x	7.95 x	69.91 x

Total No of Applications

27,93,616

Subscription on the basis of Applications

Retail:6.51x BHNI:11.53x SHNI:39.61x

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

ROE 23.60%

ROCE 11.73%

Debt/Equity 1.07

RoNW 23.60%

PAT Margin 15.25

Price to Book Value 5.84

Indegene Limited Company Financials

In Crs.

In Cr.

	31-Dec-23	31-Mar-23	31-Mar-22	31-Mar-21
Assets	2,518.15	2,203.87	1,353.47	596.04
Revenue	1,969.75	2,364.10	1,690.50	996.92
Profit After Tax	241.90	266.10	162.82	149.41
Net Worth	1,327.00	1,063.72	763.90	324.51
Reserves & Surplus	1,282.65	1,019.43	763.55	324.19
Total Borrowing	399.33	394.34	18.24	24.76

About Indegene Limited 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.

Indegene Limited - Promoter(s)

BCP Topco VII Pte. Ltd

Pre Issue Share Holding : 30.71%

Post Issue Share Holding : N/A%

Indegene Limited IPO - Issue Objectives

Repayment/prepayment of indebtedness of one of the Material Subsidiaries, ILSL Holdings, Inc.

Funding the capital expenditure requirements of the Company and one of the Material Subsidiaries, Indegene, Inc.

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.

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.

Contact Details

Indegene Limited

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

+91 80 4674 4567

compliance.officer@indegene.com

https://www.indegene.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

indegene.ipo@linkintime.co.in

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. You can track the real-time subscription numbers using the links below:

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 Indegene Limited IPO price band is set between ₹430-452 per equity share.

Ans. To apply for Indegene Limited 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 Indegene Limited IPO allotment status online.