Indegene IPO shares to debut tomorrow. Here's what GMP indicates
investors.
The shares of Indegene will list on the exchanges on Monday and the unlisted market trends indicate robust listing gains for allotted investors.
The company's shares are trading with a GMP of Rs 290 in the grey market, and considering the upper price band of Rs 490, the stock is expected to list with a premium of over 60%.
Ahead of the issue opening, the company raised nearly Rs 549 crore from anchor investors.
Some of the marquee investors who participated in the anchor round include Capital Group, Fidelity Investments, Loomis Sayles and Company, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI Mutual Fund, and ICICI Prudential Mutual Fund, among others.
The IPO comprised fresh equity issue worth up to Rs 750 crore and an offer for sale (OFS) of up to 2.93 crore equity shares by existing investors.
Under the OFS, Manish Gupta, Rajesh Bhaskaran Nair, Anita Nair, Carlyle, Brighton Park Capital, and Nadathur Family Office, among others, offloaded shares.
The funds raised through the fresh issue would be used to pay debt, fund capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, fund inorganic growth, and general corporate purposes.
Analysts believe Indegene IPO gave investors a unique opportunity to invest in a leading provider of digital-led commercialisation services tailored for the life sciences industry
Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech, and medical devices companies to
