Sunday, May 19News That Matters

Indegene IPO to open on May 6,2024


The Initial Public Offering (IPO) of Indegene Limited is going to hit the Indian primary market on 6th May 2024 i.e. on Monday next week.The bidding period will extend for three days, concluding on Wednesday, May 8, 2024.

The company, which provides digital services to the life science industry, recently declared the Indegene IPO price band at ₹430 to ₹452 per equity share The proceeds from the fresh issue of equity shares are said to be utilized for the repayment and prepayment of indebtedness of one of its principal subsidiaries, ILSL Holdings Inc, and for meeting capital expenditure requirements of Indegene Inc, another key subsidiary of the company.Additionally, the funds will also be used towards general corporate purposes and inorganic growth.

The IPO is managed by prominent entities such as Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities.