• Source:PTI
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Indegere IPO:  The Initial Public Offering (IPO) of healthcare technology company Indegene received a subscription of 7.34 times on the second day of bidding on Tuesday. According to NSE data, the Rs 1,841.75 crore IPO received bids for 21,20,23,944 shares against 2,88,66,677 shares on offer. The category for non-institutional investors was subscribed 18.02 times, while the Qualified Institutional Buyers (QIBs) portion received 5.59 times subscriptions.

The Retail Individual Investors (RIIs) portion received 3.82 times the subscription. The initial public offer has a fresh issue of up to Rs 760 crore and an offer for sale of up to 2,39,32,732 equity shares. The IPO has a price range of Rs 430-452 per share. On Friday, Indegene Ltd said it raised Rs 549 crore from anchor investors.

The OFS will see the sale of shares by existing investors 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.

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Currently, Nadathur Fareast Pte Ltd is the largest shareholder in Indegene with a 23.64 percent stake. CA Dawn Investments has a 20.42 percent stake, and Brighton Park Capital owns a 12 percent stake in the company.

Funds raised through the fresh issue would be used to pay off debt, fund capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, fund inorganic growth, and general corporate purposes. Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech, and medical device companies to develop products, launch them in the market, and drive sales throughout their life cycle.

Kotak Mahindra Capital Company, Citigroup Global Markets India, J P Morgan India, and Nomura Financial Advisory and Securities (India) are the managers of the offer.

(With PTI Inputs)

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