Indegene IPO opens next week. GMP, review, price, other details of upcoming IPO in 10 points

Indegene IPO: The Initial Public offering (IPO) of Indegene Limited is a rare event, set to hit the Indian primary market on 6th May 2024. This marks a significant departure from the norm, as there has not been a single IPO launch during May in the last four General Election cycles. The period from April to June during these years has typically been slow for the primary markets due to election uncertainty. However, the Lok Sabha polls jinx was broken after the launch of the JNK India IPO, followed by the Indegene IPO. The digital service provider company has fixed the Indegene IPO price band at ₹430 to ₹452. The upcoming IPO will open on 6th May 2024 and remain open till 8th May 2024, i.e., the book build issue will remain open from Monday to Wednesday next week. Shares of Indegene Limited are trading at a substantial premium in the grey market today. According to the stock market observers, Indegene shares are trading at a premium of ₹246 in the grey market today.

Giving IPO commentary for the week gone by, Mahavir Lunawat, Managing Director at Pantomath Capital Advisors, said, "Last week commencing 28th April, one mainboard IPO of JNK India makes stellar market debut, lists with 50% premium over the issue price. Since 2004, there hasn't been a single IPO launch during May in the last four General Election cycles. Typically, the period from April to June during these years has been slow for the primary markets due to election uncertainty. However, this trend is expected to change now as three mainboard IPOs of Indegene Limited, TBO Tek Limited and Aadhar Housing Finance are set to be launched next week to raise 6,392 crores."

Important Indegene IPO details

1] Indegene IPO GMP: Shares of the company are available at a premium of ₹246 in the grey market today, say market observers.

2] Indegene IPO price: The digital service provider company that caters to the Life Sciences industry has a fixed price band for the upcoming IPO at ₹430 to ₹452 apiece.

3] Indegene IPO date: The book build issue will open on 6th May 2024 and end on 8th May 2024.

4] Indegene IPO size and allocation: The upcoming IPO will mix fresh shares and OFS. The company aims to raise a substantial amount of ₹1841.76 crore from its initial public offer. Out of this, ₹760 crore is aimed through the issuance of fresh shares, indicating the company's growth plans. The rest, ₹1081.76 crore, is reserved for the OFS route, providing an opportunity for existing shareholders to exit.

5] Indegene IPO lot size: A bidder will be applied in lots for the upcoming IPO, and one lot of the Indegene IPO comprises 33 company shares.

6] Indegene IPO allotment date: The likely date for allotment of shares is 9th May 2024, i.e. on Thursday next week.

7] Indegene IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of this upcoming IPO.

8] Indegene IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Indegene IPO listing date: In the wake of the 'T+3 listing rule', the most likely Indegene IPO listing date is 13th May 2024.

10] Indegene IPO review: The company's revenue grew around 40 per cent YoY in FY24, whereas its PAT shot up nearly 63..50 per cent in the recently ended financial year 2023-24 against its FY23 PAT.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, and not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.