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Business News/ Markets / Ipo/  Indegene share price makes a bumper debut, stock opens with 45% premium at 655 on NSE
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Indegene share price makes a bumper debut, stock opens with 45% premium at ₹655 on NSE

Indegene share price opened at ₹655 per share, 44.9% higher than the issue price of ₹452, on NSE. Indegene IPO includes an OFS of 23,932,732 equity shares and a fresh issue of ₹760 crore, totaling ₹1,841.76 crore. Market experts predicted shares to list between ₹740 to ₹760.

Indegene share price lists on the bourses today. Premium
Indegene share price lists on the bourses today.

Indegene share price made a stellar debut on the bourses today. On NSE, Indegene share price opened at 655 per share, 44.9% higher than the issue price of 452. On BSE, Indegene share price today opened at 659.70 apiece, up 45.95% than the issue price.

Market experts anticipated Indegene share price to open in the range of 740 to 760 per share.

On the last day of bidding on Wednesday, May 8, the initial public offering of healthcare technology business Indegene was subscribed 69.71 times. Qualified Institutional Buyers (QIBs) subscribed 197.55 times, while non-institutional investors subscribed 54.75 times. The quota for retail individual investors garnered 7.68 times as many subscribers.

Also Read: Indegene IPO listing date today. GMP, experts signal up to 65% gain for allottees

The subscription period for the Indegene IPO commenced on Monday, May 6. The price band for each equity share with a face value of 2 was 430 to 452. On Friday, May 3, the Indegene IPO picked up 548.77 crore from 36 anchor investors at an upper price range of 452 per equity share.

Indegene Limited offers digital services to the life science business. They work on medication development, clinical trials, regulatory filings, pharmacovigilance, complaint handling, and sales/marketing assistance.

Indegene IPO details.
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Indegene IPO details.

Indegene IPO details

An offer-for-sale (OFS) of 23,932,732 equity shares by the investor selling shareholder and a fresh issue of 760 crore make up the 1,841.76 crore Indegene IPO.

The following parties are selling their holdings: Ltd.; BPC Genesis Fund I SPV (up to 2,657,687 equity share); 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); and CA Dawn Investments (up to 10,792,650 equity shares).

Also Read: Upcoming IPOs: 6 new public issues and 12 new listings to keep primary market busy next week; check full list here

The proceeds of the fresh issue will be used by the company to finance inorganic growth, general corporate purposes, capital expenditure requirements for both the company and one of its material subsidiaries, Indegene, Inc, as well as the repayment or prepayment of ILSL Holdings, Inc's debt.

The Indegene IPO's book-running lead managers are Nomura Financial Advisory And Securities (India) Pvt Ltd, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Kotak Mahindra Capital Company Limited. Link Intime India Private Ltd. serves as the issue's registrar.

Also Read: Indegene IPO: What does GMP signal ahead of share listing on Monday?

Indegene IPO GMP today

Indegene IPO GMP or grey market premium is +307. This indicates Indegene IPO share price were trading at a premium of 307 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 759 per share, which is 67.92% more than the IPO price of 452.

According to investorgain.com, based on the past 17 sessions of grey market activity, today's IPO GMP trends higher, indicating a positive listing. The lowest GMP is 160, while the highest GMP is 307.

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

Also Read: Indegene IPO allotment out. Latest GMP, listing date, how to check status

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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Published: 13 May 2024, 10:01 AM IST
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