Healthcare Tech Firm Indegene Limited Announces IPO Opening on May 06, 2024

 

Mumbai: “Indegene Limited”, a technology-led healthcare solutions provider, is set to launch its initial public offering (IPO) with a price band ranging from ₹430 to ₹452 per equity share of ₹2 each. The offering includes a fresh issue and an offer for sale, with the Bid/Offer opening on May 6, 2024, and closing on May 8, 2024. Anchor investor bidding will take place on May 3, 2024, prior to the opening date.

The details of the offering are as follows:

• Price Band: ₹430 to ₹452 per equity share.
• Anchor Investor Bidding Date: May 3, 2024.
• Bid/Offer Opening Date: May 6, 2024.
• Bid/Offer Closing Date: May 8, 2024.
• Bids: Minimum bid for 33 equity shares, with additional bids in multiples of 33 equity shares.
• Employee Reservation Portion: Up to ₹125 million with a ₹30 discount per equity share for eligible employees.

The total offering comprises a fresh issue of equity shares aggregating up to ₹7,600 million and an offer for sale of up to 23,932,732 equity shares. The offer for sale includes equity shares from individual selling shareholders and investor selling shareholders.

The company plans to use the proceeds from the fresh issue for several purposes, including:

• Repayment/prepayment: To reduce indebtedness of its Material Subsidiary, ILSL Holdings, Inc.
• Capital expenditure: For the company's operations and its Material Subsidiary, Indegene, Inc.
• General corporate purposes and inorganic growth.

This IPO provides an opportunity for investors to engage with Indegene's growth trajectory and support the company's strategic plans for expansion and debt reduction. The structure of the offering, with its mix of fresh issue and offer for sale, caters to various investor interests, from retail to institutional.