Indegene IPO shares set to make debut today

Shares of Indegene will be listed at the bourses today. The company has fixed the issue price at ₹452, the upper cand of the price band of ₹430-452.

Shares of Indegene will be listed at the bourses today. The company has fixed the issue price at ₹452, the upper cand of the price band of ₹430-452.

The initial public offering saw a robust response from all category investors, as the issue was subscribed 69.70 times, thanks mainly to qualified institutional buyers.

The issue size of the healthcare tech service provider was ₹ 1,842 crore, which received bids for 201.35 crore shares against 2.89 crore shares on offer (net of anchor portion).

The portion for qualified institutional buyers was subscribed a whopping 197.55 times, while that of non-institution received bids 54.82 times. The quota for retail investors received 7.78x subscription times, and the portion for employees, who get discounts of ₹30, received bids 6.34 times.

The IPO comprised a fresh issue of shares worth up to ₹760 crore, and an offer-for-sale of up to 2.34 crore equity shares, aggregating ₹1,082 crore. Through the OFS investors such as CA Dawn Investments, a Carlyle group entity, Vida Trustees in its capacity as a partner of Group Life Spring, Brighton Park Capital’s entities BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair will sell stake.

Ahead of the IPO, the company had raised ₹549 crore from anchor investors. It had allotted 1.21 crore shares to 36 funds at ₹452 apiece. Among the anchor investors are Capital Group, Fidelity Investments, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund, Premji Invest, UTI Mutual Fund, Edelweiss Mutual Fund, Aditya Birla Sun Life Insurance Company and Bajaj Allianz Life Insurance Company.

Funds raised through the fresh issue would be used to pay, fund capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, fund inorganic growth and general corporate purposes.

Kotak Mahindra Capital, Citigroup Global Markets India, J P Morgan India, and Nomura Financial Advisory and Securities (India) are the issue’s book-running lead managers.

Like (0)
Previous May 10, 2024 10:32 pm
Next May 13, 2024 4:10 pm

Related posts

  • PGIM India Asset Management aims to double AUM to ₹50,000 core in next 2-3 years

    PGIM India Asset Management aims to more than double its assets under management to ₹50,000 crore within the next 2-3 years, driven by efforts to complete the product basket coupled with strong focus on SIP, its top official said on Monday.

    stock options May 21, 2024
  • Tier-II IT firms’ stock performance to remain subdued, mirror Tier-I companies

    Tier-II IT firms, following a robust stock market surge surpassing larger competitors, have experienced a more pronounced price decline post lacklustre Q4 results. Analysts anticipate mid-tier IT stocks performance to further moderate and the difference between the performance of both tiers will reduce.

    stock options May 14, 2024
  • Marico surges 10% on strong Q4 results; brokerages bullish with upgraded price targets

    Shares of Marico Ltd zoomed 10 per cent on Tuesday after the company reported a 4.9 per cent rise in consolidated net profit in quarter that ended March 2024. A few brokerages even upgraded the FMCG company post-results and hiked price targets.

    stock options May 8, 2024
  • Stock Market Today: Sensex, Nifty likely to open on flat note

    After a long break, domestic markets are expected open on a flat note. With lack of triggers, analysts expect lacklustre trading amidst continuous selling by foreign portfolio investors.

    stock options May 21, 2024
  • Dongguan Securities\’ characteristic financial and business education platform \”Financial and Business Enlightenment, Accompanying You as a Child\” was selected as the \”Best Investor Education Outstanding Innovation Case\”

    Special Topic: Sina Finance’s 2024 Annual Investment Education Case Selection is in Progress. For stock trading, look at Jin Qilin’s analyst research reports, which are authoritative, professional, timely and comprehensive to help you tap potential theme opportunities! Sina Finance’s “2024 Excellent Investment Education Case Selection” event was officially launched on April 8. The unique financial and business education platform \”Financial and Business Enlightenment, Accompanying You as a Child\” created by Dongguan Securities Investment Education Base was selected as the \”Best Outstanding Innovation Case in Investor Education\”. >> Details of the event It is reported that in response to the call of the Securities Association of China to carry out the \”Investor Education in Hundreds of Schools\” event, to guide primary and secondary school students to establish correct financial concepts and enhance primary and secondary school students\’ financial security awareness and financial literacy, Dongguan Securities Investment Education Base Create a unique financial and business education platform, and bring financial and business education to primary and secondary school students through the promotion of online financial and business education investment education works and…

    stock options April 25, 2024
  • Stocks that will see action today May 6, 2024

    Paytm’s parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said. Gupta steered the lending business, online and offline payments, and compliances, at Paytm. Verticals, headed by him were adversely impacted by the RBI’s ban on Paytm Payments Bank (PPBL) from carrying on new transactions.

    stock options May 7, 2024