Stellar Debut: Indegene Lists at 46% Premium at Rs 660 per share on BSE

Indegene Limited provides digital services for the life sciences industry, assisting with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support, debuted on the Indian stock market today.

The stock of Indegene Limited settled at Rs 659.70 per share on the BSE, representing an impressive 45.95% premium over the final issue price of Rs 452 per share. Additionally, on the NSE, the company’s shares opened at Rs 655 per share, indicating a gain of 44.91%. The market capitalisation on the BSE stands at around Rs 15,784.57 crore.

IPO Proceeds

The company proposes to utilize the net proceeds towards funding the following objectives: Repayment/prepayment of indebtedness of one of the Material Subsidiaries, ILSL Holdings; funding the capital expenditure requirements of the company and one of the Material Subsidiaries, Indegene, Inc.; and general corporate purposes and inorganic growth.

Business Overview

Founded in 1998, Indegene Limited provides digital services for the life sciences industry, assisting with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support.

The company’s services can be divided into the following categories:

• Enterprise Commercial Solutions
• Omnichannel Activation
• Enterprise Medical Solutions
• Enterprise Clinical Solutions and consultancy services

Subscription details

On May 08, 2024, the final day of the IPO window, the IPO witnessed an impressive response, with a subscription rate of 70.30 times. The public issue received great interest, with the retail category being subscribed 7.86 times, while the QIB and NII categories reached subscription rates of 192.72 and 55.91 times, respectively.

The IPO price band was Rs 430 and Rs 452, with a face value of Rs 2 per share and a lot size of 33 shares. The total size of the company’s IPO was Rs 1841.76 crore, and the final share issue price was fixed at Rs 452 each.

Conclusion

The crucial question that arises in everyone’s mind is whether to hold onto the shares or book profits. Investors who applied for listing gains only have already earned 46% on the listing day itself and can choose to book the profit generated or watch for at least the first 15 minutes and then set a stop-loss at the day’s low price. On the other hand, investors with a higher risk appetite may opt to hold the shares for the medium to long term, which could prove to be beneficial.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.