Indegene IPO
Indegene IPO — date, price band, lot size & details 2024
Indegene listed on 13 May 2024 at ₹655, 44.9% above the ₹452 issue price.
Indegene provides digital-led commercialisation services to life sciences companies, from clinical trials and regulatory support to sales and marketing. It had 65 active clients on 31 December 2023.
Stock price
Indegene is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 06 May 2024
- Close 08 May 2024
- Allotment 09 May 2024
- Refund/credit 10 May 2024
- Listing 13 May 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 6 to 8 May, 2024 |
|---|---|
| Price Band | ₹430 – ₹452 |
| Face Value | ₹2 |
| Lot Size | 33 Shares |
| Issue Size | ₹1841.76 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 30.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,916 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 33 shares at the ₹452 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 33 | ₹14,916 |
| Retail (max) | 13 | 429 | ₹1,93,908 |
| S-HNI (min) | 14 | 462 | ₹2,08,824 |
| S-HNI (max) | 67 | 2,211 | ₹9,99,372 |
| B-HNI (min) | 68 | 2,244 | ₹10,14,288 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 996.92 crore in FY2021 to Rs 2,364.10 crore in FY2023.
- 02Profit after tax rose from Rs 149.41 crore in FY2021 to Rs 266.10 crore in FY2023.
- 03Profit after tax was Rs 241.90 crore in the nine months to 31 December 2023.
- 04The source puts the PAT margin at 12.62% and return on net worth at 18.23%.
- 05Rs 391.34 crore of the fresh issue was planned for repaying subsidiary debt.
Risks · 5
- 01The pre-issue P/E was 37.78 at the upper band of Rs 452, based on EPS of Rs 11.96.
- 02Rs 1,081.24 crore of the Rs 1,841.76 crore issue was offer for sale.
- 03Total borrowing rose from Rs 18.24 crore on 31 March 2022 to Rs 399.33 crore on 31 December 2023.
- 04It serves only 65 active clients, so the loss of a large client would hurt, and most income is earned abroad in foreign currency.
- 05The company has no identifiable promoter, and the post-issue market value at Rs 452 was Rs 10,814.07 crore.
Three years of numbers
All figures in ₹ crore, as reported in the Indegene offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 2,518.15 | 2,203.87 | 1,353.47 | 596.04 |
| Total Income | 1,969.75 | 2,364.10 | 1,690.50 | 996.92 |
| Profit After Tax | 241.90 | 266.10 | 162.82 | 149.41 |
| NET Worth | 1,327.00 | 1,063.72 | 763.90 | 324.51 |
| Reserves and Surplus | 1,282.65 | 1,019.43 | 763.55 | 324.19 |
| Total Borrowing | 399.33 | 394.34 | 18.24 | 24.76 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Indegene RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Indegene IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹11.96 | ₹13.48 |
| P/E Ratio (x) | 37.78 | 33.53 |
| Market Cap at Offer Price (₹ Cr) | ₹9,142.04 | ₹8,111.19 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹452 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹724.38 Cr of the issue is earmarked to named objects.
About the company
Its solutions help with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of products. It combines over two decades of healthcare domain expertise with its technology platforms.
As of 31 December 2023 it had 65 active clients, served from six operation hubs and 17 offices across North America, Europe and Asia. Its subsidiary DT Associates offers consulting under the DT Consulting brand. The company has no identifiable promoter.
The IPO was Rs 1,841.76 crore, with Rs 760.52 crore of fresh issue and Rs 1,081.24 crore of offer for sale by investors and other shareholders. Rs 391.34 crore was planned for repaying debt of its subsidiary ILSL Holdings and Rs 102.92 crore for capital expenditure.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Indegene IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Citigroup Global Markets India Pvt. Ltd
29 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Kalyan Jewellers India (-15.0%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
24 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Indegene?
The current Grey Market Premium is ₹300, or 66% over the issue price.
What is the Indegene IPO price band?
₹430 to ₹452, on a face value of ₹2.
When is the allotment?
The basis of allotment is 9 May 2024, with listing on 13 May 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
