Carlyle-backed Indegene IPO to open on May 6: Check key dates, price band, other details

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Indegene IPO: The initial public offering (IPO) of private equity (PE) firms Carlyle and Nadathur Fareast-backed Indegene will open for subscription on May 6, 2024. The maiden public issue of the digital services provider for the life sciences industry will remain open for bidding till May 8, 2024, according to the red herring prospectus (RHP) filed by the the company. Indegene assists with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales or marketing support.

Also Read: Indegene files papers with Sebi; eyes ₹3,200 crore via IPO Indegene IPO is a book built issue. The issue comprises of fresh issue of ₹760.00 crore and offer for sale of 2.39 crore shares. The allotment for the Indegene IPO is expected to be finalized on Thursday, May 9, 2024.

Indegene IPO will list on BSE, NSE with tentative listing date fixed as Monday, May 13, 2024. Indegene IPO price bands are yet to be announced. Certain media reports indicate that the IPO issue size may be in the range of ₹1,750-2,500 crore.

PE firm Nadathur Fareast Pte Ltd, owned by Infosys co-founder Nadathur S Raghavan, is the largest shareholder in Indegene with a 23.64 per cent stake on a fully diluted basis, followed by the global PE firm Carlyle-backed CA Dawn Investments which holds 20.42 per cent shares, according to the RHP. The private-sector company has reserved up to 50 per cent of the net issue size for qualified institutional buyers (QIB), 15 per cent for non-institutional investors (high-net-worth individuals), and the remaining 35 per cent for the retail investors in its public issue. Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd and Nomura