The Indigene IPO begins Indigene IPO opens: Monday deals will mark the launch of Indigene Limited’s Initial Public Offering (IPO), marking a first for the four Lok Sabha Election cycles in which there hasn’t been a single IPO launch in May. Historically, the period between April and June has seen a slowdown in primary markets because of election uncertainty, but the General Election polls jinx was broken after the launch of the JNK India IPO, which is now followed by the Indigene IPO. The digital service provider company has fixed the Indigene IPO price band at ₹430 to ₹452. The book build issue has opened today and will remain open until May 8, 2024, i.e., the The problem will not be resolved until this Wednesday. Indigene Limited’s shares are currently selling in the grey market for a significant premium. The Indigene share price is currently accessible in the gray market at a premium of ₹246 according to stock market experts. The public offering, which consists of both new shares and offers for sale (OFS), is suggested for listing on the BSE and NSE.
Indigene IPO subscription status: As of 10:39 AM on the first day of bidding, the retail portion of the public offer had been booked 0.18 times, while the NII portion had been booked 0.31 times. The public issue had been subscribed 0.16 times.
The Indigene IPO begins Important information about the Indigene IPO 1] Indigene IPO GMP: According to market watchers, the company’s shares are currently available on the gray market for a premium of ₹246,46.
2] Indigene IPO pricing: The company has set a fixed price range of ₹430 to ₹452 per share for the public offering.
3] Date of the Indigene IPO: The book build issue begins today and runs through May 8, 2024.
With a combined offering of new shares and OFS, Indigene is seeking to raise a significant ₹1841.76 crore during its initial public offering. The company aims to grow, and ₹760 crore is the target amount that would be raised through the sale of new shares. The remaining ₹1081.76 crore is set aside for the OFS route, giving current shareholders a chance to sell their shares. This arrangement of funds of the IPO illustrates Indigene’s calculated strategy to going public.
5] Indegene IPO lot size: A bidder can apply in lots for the mainboard IPO, and one lot of the Indegene IPO comprises 33 business shares.
6] Indigene IPO allotment date: This Thursday, May 9, 2024, is most likely the date for share allocation.
The Indigene IPO begins 7] Official registrar of the Indigene IPO: Link Intime India Private Limited has been designated as the registrar of the Indigene IPO.
8] Indigene IPO listing: BSE and NSE are proposing to list the book build issue.
The most likely date for the share listing of Indigene IPO is May 13, 2024, following the implementation of the ‘T+3 listing rule’.
Indigene IPO: Good or bad for investors?
10] Review of Indigene IPO: “Indigene is a provider of digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical device companies,” stated Pratham’s Masdar, Research Analyst at Toybox, with a “subscribe” tag attached to the public problem. The business has created a number of platforms and technologies, such as programs that automate and provide AI-based efficiency in creating commercial assets, legal papers, and health-related information. Since its founding, Indegene has completed thirteen acquisitions, broadening the range of solutions it provides to clients and giving it access to new markets, technology, and customers. During FY21–23, the company’s revenues increased at a compound annual growth rate (CAGR) of 54.5%. In the future, it is projected that enhancing their go-to-market strategy through expanding their clientele base, forging new connections, fortifying market niches, concentrating on high-value prospects, and growing promising business verticals will be the primary drivers of improved operational performance. As a result, we continue to be optimistic and advise investors to submit an application for the IPO in the medium- to long-term.”
The Indigene IPO begins Amit Goal, Co-Founder and Chief Global Strategist at Pace 360, encouraged investors to apply for the public offering, saying, “Investors may park moderate funds for the long term and add on post-listing at lower levels to average the investment with a long-term investment strategy. Before the IPO launch, the company’s shares are commanding a substantial premium of over 55% in the grey market, signaling strong investor interest. Prospective investors are encouraged to consider subscribing for potentially favorable listing gains.”
The Indigene IPO has also received a “buy” rating from BP Equities, Indsec Securities, SBICAP Securities, SMIFS, and Ventura Securities; however, the mainboard IPO has not received a rating from Mehta Equities, Sushil Finance, or Axis Capital.
Notice: This analysis does not represent the opinions or suggestions of Mint; rather, it represents the opinions of certain analysts or brokerage firms. Before making any investment decisions, we strongly advise investors to speak with qualified specialists because individual circumstances and market conditions can change quickly.
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