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Indegene Ltd, a leading provider of digital services to the life sciences industry, launched its initial public offering (IPO) on May 6 and closed on May 8. The IPO received robust demand from investors, with the public issue being subscribed more than 70 times.
The allotment of shares for the Indegene IPO is expected to be finalized today, and the company is expected to credit the shares into the demat accounts of successful bidders on Friday, May 10.
Bidders can check their Indegene IPO allotment status online through the official website of BSE or the portal of IPO registrar, Link Intime India. The allotment status can be checked by providing the application number or PAN details.
The Indegene IPO has received strong subscription during the bidding period, with the IPO being subscribed 70.30 times in total. The public issue was subscribed 7.86 times in the retail category, 192.72 times in the Qualified Institutional Bidders (QIB) category, and 55.91 times in the Non-Institutional Investors (NII) category by May 8.
The Indegene IPO is commanding a strong premium in the grey market, with the Indegene IPO GMP today, or grey market premium today, being ₹260 per share. This indicates that Indegene shares are trading higher by ₹260 than their issue price of ₹452, in the grey market.
Considering the latest GMP today and the IPO price, Indegene shares are estimated to be listed at ₹712 per share, a premium of 57.5% to the issue price.
The company proposes to utilize the net issue proceeds towards repayment or prepayment of indebtedness of one of the Material Subsidiaries, ILSL Holdings, Inc, capital expenditure requirements, and general corporate purposes and inorganic growth.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book-running lead managers of the Indegene IPO, while Link Intime India is the IPO registrar.
Source: Indegene IPO allotment to be out today. Latest GMP, steps to check allotment status online