Indegene Limited IPO (Initial Public Offering) will hit the Indian primary market today, 6th May 2024. The IPO’s size of the offer for sale is up to 23,932,732 equity shares with a face value of Rs. 2 each. It aggregates to up to Rs. 2 million. The arrival of Indegene Ltd IPO is a significant departure from the schedule followed till now. This is because, in the preceding four General Election cycles, no IPO has been launched.
In this blog, we’ll provide all the key insights about Indedene LTD IPO date and GMP Price, including its allotment, subscription update, pre-offering date, listing price, grey market price update, and other details.
Indegene Ltd IPO: An Overview
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Indegene Ltd offers digital-led commercialization services for medical device firms and biopharma. It empowers life sciences companies technologically and has 17 offices with over 5000 team members. It had a revenue of Rs. 2364.10 crores in 2023 and Rs. 1690.50 crores in 2022.
The IPO of the company has an issue size of Rs. 1841.76 crore. Further, the face value of its Equity Shares is Rs. 2. This IPO’s price range is between ₹430 to ₹452. After it opens today, 6th May 2024, it will remain open until 8th May 2024, (Monday to Wednesday this week). Indegene IPO will be listed on the Stock Exchanges BSE Limited and the National Stock Exchange of India Limited (NSE).
Details of the Indegene Ltd IPO For Sale
Here are the key details regarding the IPO.
| Selling shareholder | Type of shareholder | Shares offered | Weighted estimated cost of acquisition for one equity share |
| Manish Gupta | Individual Selling Shareholder | Up to 1,118,596 Equity Shares | 0.05 |
| Dr. Rajesh Bhaskaran Nair | Individual Selling Shareholder | Up to 3,233,818 Equity Shares | 0.11 |
| Anita Nair | Individual Selling Shareholder | Up to 1,151,454 Equity Shares | Very minor |
| Vida Trustees Private Limited as a partner of Group Life Spring | Investor Selling Shareholder | Up to 3,600,000 Equity Shares | 93.71 |
| BPC Genesis Fund I SPV, Ltd. | Investor Selling Shareholder | Up to 2,657,687 Equity Shares | 201.48 |
| BPC Genesis Fund I-A SPV, Ltd. | Investor Selling Shareholder | Up to 1,378,527 Equity Shares | 201.48 |
| CA Dawn Investments | Investor Selling Shareholder | Up to 10,792,650 Equity Shares | 201.48 |
Face Value, Price Band, & Lot Size of Indegene IPO
This table lists the IPO’s face value, price band, lot size, and other similar details.
| Face Value | Rs. 2 for every share |
| Price Band | Rs. 430 to Rs. 452 for each share |
| Total size of the lot | 33 Shares |
| Total Issue Size | 40,746,891 shares, which aggregate to Rs. 1,841.76 Cr) |
| Fresh Issue | 16,814,159 shares, which aggregate up to Rs. 760.00 Cr) |
| Offer for Sale | 23,932,732 shares each of Rs. 2, which aggregate up to Rs. 1,081.76 Cr |
| Employee Discount | Rs. 30 per share |
Shareholding Patterns of Different Shareholders
The pre-issue and post-issue shareholding patterns of different shareholders of Indegene are as follows:
| Shareholder details | Pre-issue (in %) | Post-issue (in %) |
| Public-individual selling shareholder | 19.89 | 16.20 |
| Public-investor selling shareholder | 36.70 | 26.42 |
| Public | 43.24 | 57.23 |
| Employee trust | 0.17 | 0.16 |
| Total | 100 | 100 |
Indegene IPO: Important Dates
If you are an investor, it is crucial to be mindful of the dates associated with the opening and closing of the IPO.
| IPO Opening date | May 6, 2024 |
| IPO Closing Date | May 8, 2024 |
| Basis of IPO Allotment | May 9, 2024 |
| Initiation of Refunds | May 10, 2024 |
| The credit of Shares to Demat | May 10, 2024 |
| IPO Listing Date | May 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 8 |
Maximum & Minimum Investments By Retail Investors & HNI
The minimum number of shares for bidding is 33. This table shows the minimum and maximum value of investment by retail investors and HNI.
| Application | Lots | Number of shares | Total amount |
| Retail (Minimum) | 1 | 33 | Rs.14,916 |
| Retail (Maximum) | 13 | 429 | Rs. 193,908 |
| S-HNI (Minimum) | 14 | 462 | Rs. 208,824 |
| S-HNI (Maximum) | 67 | 2,211 | Rs. 999,372 |
| B-HNI (Minimum) | 68 | 2,244 | Rs. 1,014,288 |
Indegene Ltd IPO Grey Market Premium (GMP) 2024
The last updated GMP for Indegene Ltd IPO is ₹240-₹250. With a price band of 452.00, the IPO’s average listing price is Rs. 714. It combines both the cap price and today’s GMP). The expected gain or loss percentage for every share is 57.96%. Even before the opening, the shares of Indegene traded at a premium of over 55% in the grey market.
Note that the highest GMP is Rs. 266. Indegene IPO’s GMP of Rs. 262 shows an upward trend. So, we expect a strong listing. A positive GMP premium indicates that the IPO will be profitable. In contrast, a negative GMP shows that the IPO will be at a discount. Here’s a day-wise GMP trend of the IPO.
Indigene IPO GMP Price Live Update:-
| Date | IPO Price | GMP |
| 9 May, 2024 | ₹452.00 | ₹240-₹250 |
| 8 May, 2024 | ₹452 | ₹250 |
| 7 May, 2024 | ₹452.00 | ₹255 |
| 6 May, 2024 | ₹452.00 | ₹260 |
| 5 May, 2024 | ₹452.00 | ₹262 |
| 4 May, 2024 | ₹452.00 | Rs. 266 |
| 3 May, 2024 | ₹452.00 | Rs. 247 |
| 2 May, 2024 | ₹452.00 | Rs. 240 |
| 1 May, 2024 | ₹452.00 | Rs. 242 |
| 30 April, 2024 | ₹452.00 | Rs. 224 |
| 29 April 2024 | ₹452.00 | Rs. 169 |
| 28 April 2024 | NA | Rs. 170 |
| 27 April 2024 | NA | NA |
Indegene Ltd IPO Review
Indegen IPO come with various opportunities and risks. Its USP is its focus on digital-led services. The technical expertise of the company has allowed it to expand rapidly. This upward trend is reflected in its revenue growth, which increased substantially from 2022 to 2023. Indegene depends greatly on industry dynamics and nurturing its bond with key clients for maximum profitability.
However, a large part of the company’s revenue comes from a small number of clients. If those clients are lost, it will directly lead to a downward trend in revenue and subsequent growth. The company’s return on net worth (RoNW) has declined from 21.57% to 18.23%. It highlights a decrease in its ability to produce returns on shareholder equity. However, there has been an improvement in earnings per share and profitability. So in our opinion, it is safe to invest in an IPO.
What is Indegene IPO GMP Price?
Today’s GMP Price For Indegene IPO is ₹260.
When is the listing date for the Indegene IPO?
Indegene Ltd.’s IPO’s listing date is May 13, 2024.
When is the allotment date for Indegene Ltd.’s IPO?
The allotment date of the IPO is May 9, 2024.
When will the IPO offering date be closed?
Indegene Ltd. IPO pre-offering will close on May 8, 2024.
Conclusion
We hope you are now fully aware of all critical details regarding the Indegene Ltd IPO. According to 2024’s annualized earnings, the issue is fully priced. But if we take into account its niche play, the price seems reasonable, and everyone seems to have something to gain. As investors, you may invest in the IPO for medium- and hopefully long-term rewards.