Indegene's Rs 1,842-cr IPO to open on May 6

New Delhi:  Indegene Ltd, a healthcare tech firm focused on the global life sciences industry, on Monday said it has fixed the price band at Rs 430 to Rs 452 per share for its Rs 1,842-crore initial share-sale offer that opens for public subscription on May 6.

The initial public offering (IPO) will conclude on May 8. The bidding for anchor investors will open for a day on May 3, the company announced.

The company's IPO comprises a fresh issue of equity shares worth up to Rs 760 crore and an Offer For Sale (OFS) of up to 2.34 crore equity shares aggregating Rs 1,082 crore, at the higher end of the price band, by selling shareholders. This takes the total IPO size to 1,842 crore.

The OFS would see sale of shares by existing investors CA Dawn Investments, a Carlyle group entity, Vida Trustees in its capacity as partner of Group Life Spring, Brighton Park Capital's entities BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair.

At present, Nadathur Fareast Pte Ltd is the biggest shareholder in Indegene with a 23.64 per cent stake. CA Dawn Investments has a 20.42 per cent stake, and Brighton Park Capital owns a 12 per cent stake in the company.

Funds raised through the fresh issue would be used to pay debt, funding capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, funding inorganic growth and general corporate purposes.

Indegene had raised USD 200 million from Carlyle Group and Brighton Park Capital in February 2021.

Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle.

Kotak Mahindra Capital, Citigroup Global Markets India, J P Morgan India, Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue.