BENGALURU INDIA 2 MAY 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 offer, priced between ₹430 and ₹452 per equity share, comprises a fresh issue of equity shares estimated at ₹ 760 Crore, and an offer for sale of up to 23,932,732 equity shares. Eligible investors are allowed to bid for a minimum of 33 equity shares and can increase their bids in multiples of 33 equity shares. Moreover, a special reservation for eligible employees, amounting to ₹12.5 crore, has been set aside within the IPO, featuring a discount of ₹30 per equity share.
