Indegene IPO: Issue booked 1.67x on Day 1. NII, retail portion oversubscribed; check GMP, subscription status

Indegene IPO subscription status: The Indegene IPO is off to a good start, with retail investors following non-institutional investors (NIIs) in the lead. The employee section is also filling up quickly since eligible employees bidding in the employee reservation segment are entitled for a discount of ₹30 per equity share. The qualified institutional buyers (QIBs) portion slowly starts to receive subscriptions.

The Indegene IPO subscription status is 1.67 times, as per BSE data. The NII portion has been subscribed 4.14 times, followed by retail, which has been booked 1.50 times. The employee portion has been subscribed 1.31 times, and QIB has been subscribed 5%.

Also Read: Indegene IPO opens: GMP, subscription status, review, price, date, lot size, other details. Apply or not?

Indegene IPO, which has opened for subscription today (Monday, May 6), will close on Wednesday, May 8. The price band has been set in the range of ₹430 to ₹452 per equity share of the face value of ₹2. Indegene IPO raised ₹548.77 crore from 36 anchor investors at the upper price band of ₹452 per equity share on Friday, May 3.

In the public offering, it has set aside 15% for NII, a maximum of 50% for QIB, and 35% for retail investors.

For the life sciences sector, Indegene Limited offers digital services. They provide help for complaints handling, pharmacovigilance, clinical trial management, regulatory submissions, medication development, and sales and marketing.

Enterprise Commercial Solutions, Omnichannel Activation, Enterprise Medical Solutions, Enterprise Clinical Solutions, and consulting services are some of the areas into which the company's services may be separated.

Also Read: Indegene IPO: Mumbai-based company raises ₹548.77 crore from anchor investors ahead of IPO

Indegene IPO subscription status live

Indegene IPO has received bids for 4,81,42,908 shares against 2,88,66,677 shares on offer, according to data from the BSE.

The retail investors' segment received bids for 2,17,11,195 shares against 1,44,60,759 shares on offer for this segment.

The NIIs portion got bids for 2,56,29,549 shares against 61,97,468 on offer for this segment.

The employee segment received bids for 4,10,751 shares against 3,12,500 shares on offer for this segment.

The QIBs segment got bids for 3,91,413 shares against 78,95,950 on offer for this segment.

Also Read: Upcoming IPOs: 9 new public issues and 4 new listings scheduled for this week; check full list here

Indegene IPO details

The ₹1,841.76 crore Indigene IPO consists of an offer-for-sale (OFS) of 23,932,732 equity shares by the investor selling shareholder, together with a fresh issue of ₹760 crore.

The parties that are selling their holdings are: Manish Gupta (up to 1,118,596 equity shares); Vida Trustees Private Limited (up to 3,600,000 equity shares); Dr. Rajesh Bhaskaran Nair (up to 3,233,818 equity shares); Anita Nair (up to 1,151,454 equity shares); BPC Genesis Fund I SPV (up to 2,657,687 equity share); Ltd.; BPC Genesis Fund I-A SPV (up to 1,378,527 equity shares); and CA Dawn Investments (up to 10,792,650 equity shares).

The net proceeds will be used by the business to support the following objectives: general corporate purposes, inorganic expansion, funding for our company's and one of its Material Subsidiaries' capital expenditure needs, Indegene, Inc; and repayment or prepayment of ILSL Holdings, Inc's debt.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Indigene IPO. Link Intime India Private Ltd is the registrar for the issue. 

Indegene IPO GMP today

Indegene IPO GMP or grey market premium is +262. This indicates Indegene share price were trading at a premium of ₹262 in the grey market, according to investorgain.com.

After taking into consideration the upper end of the IPO pricing range and the existing premium on the grey market, it is expected that Indegene shares will list at a price of ₹714 per share, which is 57.96% more than the IPO price of ₹452.

Grey market activity over the previous ten sessions indicates that the IPO GMP is moving upward and that a good listing is anticipated. Analysts at investorgain.com estimate that the lowest GMP is ₹160 and the maximum GMP is ₹266, respectively.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Indegene IPO: Price band set at ₹430-452 per share; check GMP, issue details, more

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