Indegene’s Pre-IPO Boost: Secures ₹549 Crore
Healthcare tech firm Indegene Ltd on Friday said it has raised ₹549 crore from stay speculators ahead of its initial public offering (IPO). The company has apportioned 1.21 crore equity shares to 36 reserves at ₹452 each, which is also the upper end of the cost band, concurring with a circular transferred on BSE’s site.
The anchor book attracted interest from various financial specialists, including Capital Gather, Constancy Speculations, Jupiter Asset Administration, Abu Dhabi Speculation Specialist, SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund, Premji Contribute, UTI Mutual Fund, Edelweiss Mutual Fund, Aditya Birla Sun Life Protections Company, and Bajaj Allianz Life Protections Company.
Also Studied: Indegene IPO opens on May 6: From cost band to posting, all you require to know. The issue, with a cost band of ₹430 to ₹452 per share, will open for open membership on May 6 and conclude on May 8
The company’s IPO comprises a new issue of equity shares worth up to ₹760 crores and an Offer For Sale (OFS) of up to 2.34 crore equity shares, accumulating ₹1,082 crores at the higher end of the cost band by offering shareholders. This adds up to the IPO estimate of 1,842 crore.
The OFS would see a lot of offers by existing financial specialists CA Dawn Speculations, a Carlyle group organization, Vida Trustees in its capacity as an accomplice of Group Life Spring, Brighton Park Capital’s organizations BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and person speculators Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair.
At display, Nadathur Fareast Pte Ltd is the largest shareholder in Indegene, with a 23.64% stake. CA Dawn Speculations has a 20.42% stake, and Brighton Stop Capital has a 12% stake.
Funds raised through the new issue would be utilized to pay the debt, fund capital expenditure prerequisites, installment of conceded thought for one of its past acquisitions, support inorganic development, and everyday corporate purposes.
Indegene had raised $200 million from Carlyle’s organization and Brighton Park Capital in February 2021.
Founded in 1998, Indegene offers arrangements that help the biopharmaceutical industry, developing biotech and therapeutic device companies create products, launch them in the market, and drive deals throughout their life cycle.
Kotak Mahindra Capital, Citigroup Worldwide Markets India, J P Morgan India, and Nomura Financial Advisory and Securities (India) are the issue’s book-running lead supervisors.
Conclusion: The issue, with a cost band of ₹430 to ₹452 per share, will open for public membership on May 6 and conclude on May 8. The IPO comprises a new issue of equity shares worth up to ₹760 crore and an OFS of up to 2.34 crore equity shares.
