Indegene Shares Rocket 45% Above Issue Price at Debut, opens at 655 on NSE and 659 on BSE

Indegene shares soared on debut, opening over 45% above the issue price on NSE and BSE, despite expectations of an even higher opening between ₹740 and ₹760.
Indegene Shares Rocket 45% Above Issue Price at Debut, opens at 655 on NSE and 659 on BSE

Indegene shares surged on their market debut, opening at ₹655 on the NSE and ₹659.70 on the BSE, over 45% above the ₹452 issue price. Despite market predictions of an opening between ₹740 and ₹760, the stock made a strong initial impact.

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The IPO for healthcare tech firm Indegene closed with a subscription rate of 69.71 times on its final bidding day, May 8. QIBs showed immense interest at 197.55 times, non-institutional investors at 54.75 times, and retail investors at 7.68 times.

Indegene Limited offers digital commercialization services to the life sciences sector, enhancing drug development, regulatory compliance, and marketing with its technological expertise. The company addresses industry challenges like drug pricing and exclusivity loss, converting clinical data into analytics-ready formats, and boosting efficiency with AI solutions that integrate with third-party platforms.

Indegene Limited aims to use IPO proceeds to manage ILSL Holdings’ debt and fund its capital expenditures, aiming for financial health and growth. Funds will also support infrastructure upgrades, equipment purchases, and facilitate strategic investments for inorganic growth.

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