Indegene IPO Set to Strong Listing: The IPO of life science industry giant Indegene has received tremendous response from investors. On the third and last day of the IPO, this issue was subscribed overall 70.30 times i.e. around 7030 percent. There is a great craze for this in the gray market also. In this context, the listing of the stock can happen with a high premium. Brokerage houses are also positive about this IPO. In such a situation, now investors will have to wait for the shares to be allotted.
Subscribed more than 70 times: Indegene IPO Subscription Status
Indigene’s IPO was subscribed 70.30 times overall on the last day on May 8. In this IPO, 35 percent shares are reserved for retail investors and it has been subscribed 7.86 times or 786 percent. 50 percent of its shares are reserved for Qualified Institutional Buyers i.e. QIB and it has been subscribed 192.72 times. Whereas 15 percent share is reserved for non-institutional investors i.e. NII and it has been subscribed 55.91 times overall. The reserved share for employees is filled 6.62 times.
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GMP 58% : Indegene IPO GMP
On the last day of IPO, there is a buzz about IPO in the gray market. In the gray market, the unlisted stock of the company is trading at Rs 260 i.e. 58 percent premium. If we look at the gray market, the stock is listed at Rs 612 compared to the IPO price of Rs 452 (Indegene IPO Listing Might be possible.
About IPO
The company has fixed the price band for the IPO at Rs 430 to Rs 452. The size of the IPO is around Rs 1842 crore. The company plans to raise Rs 760 crore through fresh issue. Whereas the shareholders of the company will sell shares worth about Rs 1081.75 crore through OFS. Retail investors can invest Rs 14,916 for at least 1 lot i.e. 33 shares in this IPO. Whereas one can invest Rs 193,908 for a maximum of 13 lots.
TBO TEK: This stock can debut at Rs 1440 compared to the issue price of Rs 920, indications of 57% listing gain from GMP.
How is the company’s outlook?
Brokerage house Reliance Securities has advised to subscribe to Indgene’s IPO. According to the brokerage, the company is one of the innovative companies in the life sciences industry with over two decades of experience. It has expertise and fit-for-purpose technology in the healthcare sector, with a portfolio of solutions covering all aspects of commercial, medical, regulatory and research and development operations of life sciences companies.
Shivani Nyati, Head of Wealth, Swastika Investmart, says the company has established client relationships with each of the world’s 20 largest biopharmaceutical companies. The company’s financial performance reflects consistent growth over the last three financial years, supported by a strong customer base of 65 active customers as of December 31, 2023. Additionally, the company has a well-developed technology portfolio, which further strengthens its digital capabilities. The company has a strong market position and strong customer base. Long term investors can subscribe to this IPO.
(Disclaimer: The advice for investing or selling stocks has been given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
