Indegene Listing: Stock Debut Today with 40-65% Premium

Indegene has raised value of Rs 1842 crore through IPO and earlier raised Rs 549 crore from anchor investors as well. The stock has been oversubscribed by 69.70 times with buyers that are leading its subscription.

Indegene Listing
Indegene listing stock prices go up by 40-65 % premium

Today (May 13) is the day when finally Indegene stock gets to make its debut in the IPO. Stock market analysts have made predictions of the Indegene shares to list at a well worth 40-45 percent premium over the IPO price. The Price being somewhere between Rs 700 – Rs 750.

A Research Analyst , Prashanth Tapse from Mehta Equities had mentioned that ” Considering the strong subscription demand on the last day of the issue with QIB demand raised to 192x gives good room for healthy listing gain in the range of 40-45 percent and even above against the issue price

Oversubscription to the Indegene Shares Issue

The Shares went on to the grey market before its initial listing in the grey market which also referred to the unofficial location for the shares to start getting traded before it could be allotted in the IPO and would continue being traded till its listed. Most of the investors and analysts would tract the grey market premium to get an idea of the listing price which would help them to grasp on the positioning of the shares in the stock market.

The Issues somehow gained traction and was subscribed 69.70 times as investors bought a total worth of 201.81 crore equity shares against its initial pricing of 2.88 crore shares between May 6 to May 8.Subsequently, individuals of high net worth were picking 55.07 times the reserved portion which was followed up by qualified institutional buyers or also known as QIBs who bought 197.55 times for the part which was set aside for them.

Amit Goel. the Co-founder and Chief Global Strategist at Pace 360 said : We anticipate a listing price range of approximately Rs 700- Rs 760 per share, potentially yielding a listing gain of around 65 percent”.

In another statement by Prathamesh Masdekar, Research Analyst at StoxBox mentioned ” We expect shares to list at around Rs 700 implying an upside of about 55 percent. Indegene is a provider of digital-led commercialization services for the life sciences industry and we expect the company’s strong digital capabilities and in-house developed technology portfolio to propel growth,”.

Investment raise

Before the allotment in IPO, the company has raised a total of Rs 549 crore from anchor investors also referred to qualified institutional buyers. A total of 1.21 crore shares where allotted at a price of Rs 452 a share. These funds raised from the fresh issues of Indegene shares will be used to pay and fund capital expenditures. Along with payment of various corporate purposes and deferred consideration from its past acquisitions.

The anchor investor who got to be part of Qualified Institutional Buyers included Abu Dhabi Investment Authority, Nippon India Mutual Fund, DSP Mutual Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Premji Invest, ICICI Prudential Mutual Fund, SBI Mutual Fund, Jupiter Asset Management and Fidelity Investments.

Meanwhile the leading managers of the issues are J P Morgan India, Citigroup Global Markets India, Kotak Mahindra Capital and Nomura Financial Advisory and Securities (India).

Indegene Company Profile

Indegene is a biopharmaceutical and emerging medical device company that develop products required within the healthcare eco-system. The company aims to deliver scalable and omnichannel experience for both patients and physicians who use their health care products. They make sure to develop extra ordinary products that would allow health care organization and medical institutions to be ever ready in this growing environment of health and medicine.

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