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Indegene IPO: Prominent anchor investors
According to ET, top investors in the anchor round include Capital Group, Fidelity Investments, Loomis Sayles and Company, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI Mutual Fund, and ICICI Prudential Mutual Fund, among others.
Indegene IPO details
The IPO consists of a new equity issue valued at up to Rs 750 crore, along with an offer for sale (OFS) of up to 2.93 crore shares from existing investors.
As part of the offer for sale (OFS), Manish Gupta, Rajesh Bhaskaran Nair, Anita Nair, Carlyle, Brighton Park Capital, and the Nadathur Family Office, among others, will sell some of their shares.
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Indegene IPO: Use of funds
The money raised from the new equity issue will be used to pay off debt, cover capital expenditure needs, make a deferred payment for a past acquisition, finance future expansions, and support general corporate activities.
Indegene IPO: Recommendations
Analysts are optimistic about Indegene’s IPO, suggesting that it provides a special chance for investors to invest in a leading company providing digital commercialisation services for the life sciences sector.
Mehta Equities recommends subscribing to the IPO for long-term gains, suggesting that if the stock rises more than 25% upon listing, conservative investors might consider selling for profit.
Similarly, SMIFS believes that outsourcing by pharma companies will grow faster than the overall pharma industry, with biopharma likely to outpace traditional pharma. This, combined with the company’s debt repayment plans and capital expenditure, should lead to strong growth. For these reasons, they also suggest subscribing to the IPO.
Indegene IPO price band and details
Indegene has set a price range of Rs 430-452 for its first public offering. If priced at the top end, the IPO could raise up to Rs 1,842 crore.
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Indegene: Company overview
Indegene, founded in 1998, provides solutions that help biopharmaceutical, biotech, and medical device companies develop products, launch them, and drive sales throughout their lifecycle.
The company uses more than 20 years of healthcare expertise and technology to help life science companies with clinical trials, regulatory compliance, safety operations, product launches, and ongoing sales and marketing.
In the period ending December 2023, Indegene generated revenue of Rs 1,969 crore from its operations and recorded a profit after tax of Rs 241 crore.
Key participants
Kotak Mahindra Capital, Citigroup Global Markets India, J.P. Morgan India, and Nomura Financial Advisory and Securities (India) are the lead managers for this IPO.
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