Indegene IPO Subscribed 1.67 Times On Day 1

Indegene Ltd. launched its initial public offering on Monday to raise up to Rs 1,841.76 crore. The IPO got fully subscribed on day 1, the bidding was led by non Institutional Investor.

The digital-first, commercialisation-focused company has set a price band of Rs 430-452 per share for its three-day IPO, which is a mix of fresh issue of equity shares worth Rs 760 crore and an offer-for-sale of 2.39 crore shares by the existing shareholders. The minimum application lot size is 33 shares.

The offer, which concludes on Wednesday, is set to list on the BSE and the National Stock Exchange, with a listing date scheduled for May 13.

• Issue opens: May 6.

• Issue closes: May 8. 

• Issue price: Rs 430-452 per share.

• Fresh issue: Rs 760 crore.

• Offer for sale: Rs 1,081.76  crore.

• Total issue size: Rs 1,841.76 crore.

• Listing: BSE and NSE.

• Lot size: 33 shares or multiples thereof.

Indegene has raised Rs 548 crore from anchor investors, ahead of its initial public offering. The company allotted 1.21 crore shares at Rs 452 apiece to 36 anchor investors.

Smallcap World Fund, Inc. got the highest allocation of 9.11%.

American Funds Insurance Series Global Small Capitalization Fund secured 9.11%, while Fidelity Funds-India Focus Fund, ICICI Prudential Technology Fund, and Nippon Life India Trustee Ltd. secured 7.65% each in the pre-IPO round fundraising.

Ten domestic mutual funds have applied through a total of 18 schemes, Indegene said in an exchange filing on Friday. They have collectively netted 39.58% of the anchor portion of Rs 217 crore.

ICICI Prudential Technology Fund, Nippon India Small Cap Fund, Whiteoak Capital Mid Cap Fund, and DSP Small Cap Fund are among the key investors in this category.

The IPO has been subscribed 1.67 times as of 5:00 p.m. on Monday.

• Institutional investors: 0.05 times or 5%

• Non-institutional investors: 4.14 times

• Retail investors: 1.50 times

• Employee Reserved: 1.31 times