• Source:PTI
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Indegene IPO: Healthcare technology company Indegene's initial public offering (IPO) was subscribed 1.67 times on the first day of bidding on Monday. According to data from the National Stock Exchange (NSE), bids were received for 480,93,837 shares against 288,66,677 shares on offer in the Rs 1,841.75 crore issue. The non-institutional investors' category was subscribed 4.13 times, while the retail individual investors' (RIIs) portion was subscribed 1.50 times. The quota reserved for qualified institutional buyers (QIBs) received a 5 per cent subscription.

The initial public offering (IPO) proposes a fresh issue of up to Rs 760 crore and sale of 2,39,32,732 equity shares. The price band for the offer is Rs 430-452 per share. On Friday, Indengine Ltd said it had 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 as partner of Group Life Spring, BPC Genesis Fund I SPV Ltd and BPC Genesis Fund IA SPV, units of Brighton Park Capital. 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 Indgene with a 23.64 per cent stake. CA Dawn Investments holds a 20.42 per cent stake, while Brighton Park Capital holds a 12 per cent stake in the company.

The funds raised through the new issue will be used to pay off debt, fund capital expenditure requirements, payment of deferred consideration for one of its previous acquisitions, inorganic growth and general corporate purposes. Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India and Nomura Financial Advisory & Securities (India) are the managers of the offer.
Founded in 1998, Indegene provides solutions that enable biopharmaceutical, emerging biotech and medical device companies to develop products, launch them to market, and drive sales throughout their life cycle.

(With PTI's Input)

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