Indegene Limited is coming up with an IPO worth INR 1,841.76 crores, consisting of a fresh issue of shares worth INR 760 crores and an offer to sell 1,081.76 crore shares. The company aims to manage debt, finance projects, and pursue growth opportunities for sustainable development.
Indegene Ltd IPO – Important Dates
| Indegene Limited IPO Date | May 6, 2024 to May 8, 2024 |
| Indegene Limited IPO Listing Date | May 13, 2024 |
| Indegene Limited IPO Price | INR 430-452 per share |
| Indegene Limited IPO Lot Size | 33 shares |
| Indegene Limited IPO Total Issue Size | INR 1,841.76 crores |
| Indegene Limited IPO Basis of Allotment | May 9, 2024 |
| Indegene Limited IPO Initiation of Refunds | May 10, 2024 |
| Indegene Limited IPO Credit of Shares to Demat | May 10, 2024 |
| Indegene Limited IPO Issue Type | Book Built Issue IPO |
| Indegene Limited IPO Listing At | BSE, NSE |
Indegene Limited IPO – Company Profile
Indegene Limited specializes in digital-led commercialization services for the life sciences industry, aiding drug development, regulatory compliance, sales, and marketing. Leveraging expertise and technology, they enhance efficiency and effectiveness across operations.
Despite talent shortages and margin pressures, life sciences firms prioritize digital innovation. They seek partners with domain expertise to enhance operational efficiency and navigate evolving industry challenges, including drug pricing and loss of exclusivity.
Their expertise involves converting clinical data into structured content and analytics-ready datasets. Through AI-powered solutions, the company enhance efficiency, speed to market, and regulatory compliance across the life sciences commercialization process, integrating with third-party platforms.
Indegene Limited IPO Review
Indegene’s financial analysis reveals a mixed performance. Revenue surged initially but declined later, with equity and assets showing growth. However, declining EPS, RoNW, and current ratio pose concerns for potential IPO investors.
- Revenue Trend: The revenue increased from ₹16,646.09 million in March 2022 to ₹23,061.33 million in March 2023. The revenue for the current year’s 9-month period ending December 2023 is INR 19,166.11 million, falling short of the previous year’s annual benchmark.
- Equity and Liabilities: Both equity and total liabilities have shown a consistent increase over the periods, reflecting potential growth and expansion.
- Profitability: The profit after tax (PAT) has increased from ₹1,628.18 million in March 2022 to ₹2,419.02 million by December 2023. This improvement in profitability could be a source of confidence for investors.
- Earnings per Share (EPS): The diluted EPS has also increased from ₹7.46 in March 2022 to ₹10.84 by December 2023, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has declined from 21.57% to 18.23%, indicating a decrease in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth.
Indegene Ltd IPO Fundamental Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 December 2023 |
| Revenue (₹ in Million) | 16,646.09 | 23,061.33 | 19,166.11 |
| Equity (₹ in Million) | 7,639.00 | 10,637.22 | 13,270.01 |
| Expenses (₹ in Million) | 14,171.02 | 20,010.51 | 16,446.42 |
| Profit and Loss After Tax (₹ in Million) | 1,628.18 | 2,660.99 | 2,419.02 |
| RoNW (%) | 21.57 | 25.02 | 18.23 |
| Diluted EPS only (₹) | 7.46 | 11.97 | 10.84 |
| NAV per Equity Share (₹) | 34.80 | 48.10 | 59.86 |
| Total Assets (in million) | 13,534.69 | 22,038.66 | 25,181.47 |
| Total Liabilities (in million) | 5,895.69 | 11,401.44 | 11,911.46 |
Indegene Ltd IPO Peer Comparison
There are no listed companies in India and globally of comparable size, from the same industry, and with a similar business model as Indegene Limited. Accordingly, they have not provided an industry comparison about their company.
Indegene Limited IPO Objective
The main objective of Indegene Limited is to manage the debt obligations of ILSL Holdings, Inc., and fund capital expenditures for itself and its subsidiary, Indegene, Inc., ensuring financial stability and growth.
- Repayment/prepayment of indebtedness of one of their Material Subsidiaries, ILSL Holdings, Inc.: The Company intends to utilize INR 3,913.35 million from the Net Proceeds to repay/prepay the Term Loan, improving debt-equity ratio, facilitating business expansion, and enhancing capability to raise resources for future growth.
- Funding the capital expenditure requirements of the Company and one of its Material Subsidiaries, Indegene, Inc.: The Company plans to utilize INR 102.916 from Net Proceeds to fund capital expenditures for upgrading infrastructure and procuring computer equipment to support its growing talent pool over the next three financial years.
- General corporate purposes and inorganic growth: The Company plans to deploy the balance of the funds towards general corporate purposes, including potential inorganic growth initiatives such as acquisitions, joint ventures, and strategic investments in line with its growth strategies and business objectives.
Indegene Ltd IPO Risks And Challenges
Indegene Limited’s risk includes dependency on industry growth, client revenue affecting R&D spending, and reliance on relationships with key clients. Complexities in revenue models and industry dynamics further contribute to risk.
- The demand for their solutions in the biopharmaceutical industry relies on industry growth, outsourcing trends, and digitization pace. Client revenue impacts R&D spending, affecting their services, while financial pressures may alter demand.
- Their business focuses on the life sciences industry, particularly in North America and Europe. They rely heavily on industry dynamics and maintaining relationships with key clients to sustain profitability and growth.
- Navigating the complexities of the life sciences industry, their business specializes in serving various segments of clients’ organizations. Their revenue models, including resource utilization and fixed price contracts, may appear intricate compared to standard practices.
Indegene Limited IPO – Industry & Market Potential
In 2023, biopharmaceuticals and medical devices sales totaled ₹138.3 trillion, with biopharmaceuticals accounting for 69% at ₹95.4 trillion. By 2026, sales are projected to hit ₹163.5 trillion, with biopharmaceuticals maintaining the 69% share.
Life sciences operations spending, growing at a 6.7% CAGR from 2020 to 2022, reached ₹12.0 trillion 2022. They were expected to reach ₹15.5 trillion by 2026, driven by an aging population and disease prevalence, despite pandemic-driven spikes.
Life sciences face challenges in implementing digital technologies and analyzing vast data. Service providers offer AI, ML, and NLP solutions, aiding in data integration and analysis to derive actionable insights and overcome industry challenges.
Indegene Ltd IPO – Type of Offer
Indegene Limited includes fresh issue worth INR 760 crores and an offer to sell 1,081.76 crore shares by the existing shareholders.
- Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 760 crores. The company plans to utilize it to manage debt, finance projects, and pursue growth opportunities for sustainable development.
- Offer for sale: Indegene Limited is offering to sell 1,081.76 crore existing shares. The following are the details of the existing shareholder who is also the promoter selling the shares:
| Name of the promoter selling shareholder | Maximum number of offered shares for sale (in millions) |
| Manish Gupta | 1,118,596 |
| Dr. Rajesh Bhaskaran Nair | 3,233,818 |
| Anita Nair | 1,151,454 |
Indegene Ltd IPO Offer Size
The offer size of Indegene Limited is INR 1,841.76 crores, consisting of a fresh issue of shares worth INR 760 crores and an offer to sell 1,081.76 crore shares. The company aims to manage debt, finance projects, and pursue growth opportunities for sustainable development.
Indegene Ltd IPO Allotment Structure
Indegene Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 35% for Non-Institutional Investors (NII), and 15% for Retail Individual Investors (RII) according to SEBI regulations.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 35% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 15% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
How to apply for an Indegene Limited IPO?
To apply for the Indegene Limited IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Indegene Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Indegene Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Indegene Limited’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Indegene Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Indegene Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Indegene Limited IPO:
● Registrar’s Website: Visit the website of Link Intime India Private Limited, the registrar of the Indegene Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Indegene Limited Ltd IPO Offer Registrar
The registrar for the Indegene Limited IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai 400 083
Maharashtra, India
Tel: +91 810 811 4949
E-mail: [email protected]
Website: www.linkintime.co.in
Indegene Limited Limited IPO – FAQs
The allotment date of the Indegene Limited IPO is May 9, 2024.
The price band of the issue is INR 430-452 per share.
The offer size of Indegene Limited is INR 1,841.76 crores, consisting of a fresh issue of shares worth INR 760 crores and an offer to sell 1,081.76 crore shares. The company aims to manage debt, finance projects, and pursue growth opportunities for sustainable development.
The listing date of Indegene Limited’s IPO is May 13, 2024.
