On day two, the Indigene IPO was subscribed 7.35 times; NII continues to dominate

On day two, the Indigene IPO was subscribed 7.35 times; NII continues to dominate

Indegene IPO: On May 8, the Rs 1,842-crore public offering will conclude.

Investors responded favorably to Indegene's initial public offering (IPO), purchasing 21.21 crore equity shares on May 7, the second day of bidding, which was 7.35 times more than the offer size of 2.88 crore equity shares.

High net worth people who are not institutional investors continued to hold the top spot, selecting 18.03 times the percentage that was set aside for them. Qualified institutional purchasers came in second, selecting 5.59 times the piece that was put aside for them.

According to exchange statistics, workers selected 3.18 times and retail investors 3.82 times the allocated quota.

On May 6, the Bengaluru-based business that offers digitally driven commercialization services to the health sciences sector launched its Rs 1,842-crore public offering, which was 1.67 times subscribed.

A new issue of shares valued at Rs 760 crore and an offer to sell 2.39 million shares valued at Rs 1,081.76 crore at the higher price band make up the initial public offering (IPO).

The offering has a closing price range of Rs 430–452 per share. It closes on May 8.

On May 3, Indegene, backed by private equity companies Carlyle and Nadathur Fareast, successfully raised Rs 549 crore via an anchor book. Abu Dhabi Investment Authority, East Bridge Capital Master Fund, Copthall Mauritius Investment, SBI Mutual Fund, ICICI Prudential MF, Whiteoak Capital, DSP Mutual Fund, Kotak Mutual Fund, and Smallcap World Fund Inc. are some examples of institutional investors.

With a net profit that increased 11.3 percent year over year to Rs 241.9 crore for the nine months that ended in December of FY24 and solid operational results, the company's financial performance remained sound. During the same quarter, revenue from operations increased by 14.5 percent on an annual basis to Rs 1,916.6 crore.

In comparison to a comparable time in the previous fiscal year, EBITDA (earnings before interest, tax, depreciation, and amortisation) climbed by 22.8 percent to Rs 366.7 crore during the quarter, with a margin growth of 130 basis points at 19.1 percent.

In the fiscal year 2023, sales climbed by 38.5 percent to Rs 2,306.1 crore, while net profit improved by 63.4 percent to Rs 266 crore. In comparison to the previous fiscal year, EBITDA increased 38 percent year over year to Rs 396.2 crore, while the margin remained stable at 17.2 percent.