Indegene IPO opens: GMP, subscription status, review, price, date, lot size, and further information. Apply or not?

Indegene IPO GMP: According to market experts, the company’s shares currently trade at a premium of ₹246 in the gray market.

Indegene IPO date: The book build issue opens today and ends on 8th May 2024.
Indegene IPO date: The book build issue opens today and ends on 8th May 2024.
Indegene Limited’s Initial Public Offering (IPO) is slated to enter the Indian primary market on Monday deals. This is an unusual event, as no IPO has been launched in May in the last four Lok Sabha election cycles. Historically, the key markets have been quiet from April to June due to election uncertainty. However, the General Election polls curse was broken with the introduction of the JNK India IPO, which was followed by the Indegene IPO. The digital service provider has set the Indegene IPO pricing band at ₹430 to ₹452. The book construction issue launched today and will remain open until May 8, 2024, which means it will be open until Wednesday this week. Shares of Indegene Limited are trading at a considerable premium in the grey market today. According to stock market observers, the Indegene share price is available for a premium of ₹246 in today’s gray market. The public issue is planned for listing on the BSE and NSE, and it consists of both new shares and offers for sale (OFS).

Indegene IPO subscription status

By 2:54 PM on the first day of bidding, the public issue had been subscribed to 1.02 times, while the retail part had been booked 1.11 times. The NII part of the public offering was booked 2.11 times.

Important Indegene IPO details

1] Indegene IPO GMP: According to market experts, the company’s shares currently trade at a premium of ₹246 in the gray market.

2] Indegene IPO price: The company’s fixed price band for the public issuance is ₹430 to ₹452 per share.

3] Indegene IPO date: The book build issue begins now and finishes on May 8, 2024.

The Indegene IPO combines fresh shares and OFS, intending to raise ₹1841.76 crore. The company aims to raise ₹760 crore by issuing new shares, reflecting its expansion intentions. The remaining ₹1081.76 crore is earmarked for the OFS route, giving existing shareholders the opportunity to depart. The financial structure of the IPO shows Indegene’s strategic approach to the public offering.

5] Indegene IPO lot size: A bidder can apply in lots for the mainboard IPO, and each lot of the Indegene IPO has 33 business shares.

6] Indegene IPO allotment date: The most likely date for share allotment is May 9, 2024, which falls on Thursday this week.

7] Indegene IPO registrar: Link Intime India Private Limited has been designated as the official registrar for the Indegene IPO.

8] Indegene IPO listing: The book construction issue is proposed for listing on the BSE and NSE.

9] Indegene IPO listing date: Following the implementation of the ‘T+3 listing rule’, the most likely date for share listing is May 13, 2024.

Indegene IPO: Good or bad for investors?

10] Indegene IPO review: Prathamesh Masdekar, Research Analyst at StoxBox, added a’subscribe’ tag to the public issue, stating, “Indegene is a provider of digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical device companies.” The company has created a variety of tools and platforms, including programs that automate and build AI-based efficiencies when creating commercial assets, regulatory paperwork, and medical material. Since its establishment, Indegene has completed 13 acquisitions, allowing it to gain access to new technologies, markets, and clients while also expanding the range of solutions available to clients. During the fiscal year 2021-2023, the company’s revenues increased at a CAGR of 54.5%. Going forward, the improvement in operational performance is expected to be driven by a stronger go-to-market strategy that includes deepening relationships with existing clients, establishing new client relationships, strengthening new market segments, focusing on high-value opportunities, and expanding promising business verticals. As a result, we remain optimistic and urge that investors apply for the IPO with a medium to long-term perspective.”

Read More: ABS Marine Services IPO: From offering band to GMP, here’s all you need to know about the SME issue.

Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, advised investors to apply for the public offering, stating, “Before the IPO debut, the company’s shares are demanding a huge premium of over 55% on the gray market, signaling strong investor interest. Prospective investors may consider subscribing in order to take advantage of potential listing advantages. Investors can park moderate assets for the long time and add more post-listing at lower levels to average their investment with a long-term investing strategy.”

BP Equities, Indsec Securities, SBICAP Securities, SMIFS, and Ventura Securities have all given the Indegene IPO a ‘buy’ rating, whereas Mehta Equities, Sushil Finance, and Axis Capital have not.

Hi, My self Saurabh Singh

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