Indegene IPO Subscription Open Until May 9: Is it Worth Investing?
Indegene Limited’s IPO is now open for subscription until May 8. If you’re considering investing, here’s what you need to know. The company is offering its shares at a price band of Rs 430-452 per share. You can apply for a minimum of 33 equity shares and in multiples thereafter. The total size of the IPO stands at Rs 1,841.76 crore, comprising a fresh share sale of Rs 760 crore and an offer-for-sale (OFS) of up to 2,39,32,732 equity shares by its promoters and existing equity shareholders.
Additionally, Indegene has allocated shares worth Rs 12.5 crore for its eligible employees at a discounted price of Rs 30 per share. With these details in mind, it’s worth considering whether this IPO aligns with your investment goals and risk appetite.
Indegene IPO
The subscription window for the Indegene IPO is set to open on May 6, 2024, and will run until May 8, 2024. The company aims to raise Rs 1,841.76 crores through this book-built issue. The IPO comprises a fresh issue of 1.68 crore shares valued at Rs 760.00 crores, in addition to an offer for sale of 2.39 crore shares totaling Rs 1,081.76 crores. The price band for the Indegene IPO has been set at Rs 430 to Rs 452 per share.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd are the appointed book running lead managers for the IPO. Link Intime India Private Ltd has been designated as the registrar for the issue.
Is Subscribing to the Indegene Limited IPO a Good Idea?
Indegene has a global presence with strategically located delivery centers worldwide. This allows them to provide support to clients on a global scale, fostering flexible collaboration, efficient project execution, and timely service delivery across different regions. With a market cap of Rs 1,081.4 crore post issue and a P/E valuation of 40.6 times, the company appears to have solid growth potential.
Their financial performance has been consistently strong over the past three fiscal years, supported by a robust client base of 65 active clients as of December 31, 2023. Additionally, Indegene boasts a well-developed technology portfolio, enhancing its digital capabilities. Considering the reasonable P/E valuation of 37.79 times, investing in Indegene could offer promising returns.
Disclaimer: The views expressed by experts/brokerages are their own. Consult a qualified broker or financial advisor before making any investment decisions.
