Liquidity Events
Healthcare-tech co Indegene’s Rs.1,842-Cr IPO subscribed 70 times
The initial public offering (IPO) of Bengaluru-based healthcare tech player Indegene was subscribed 69.70 times. The INR 1,842-crore IPO was offered at a price band of INR 430-452 and received bids for 201.35 crore shares against 2.89 crore shares on offer (net of anchor portion).The portion for qualified institutional buyers was subscribed 197.55 times while that of non-institution received bids for 54.82 times. The quota for retail investors got 7.78x subscription and the portion for employees got subscribed 6.34 times.The IPO comprised a fresh issue of shares worth up to INR 760 crore, and an offer-for-sale of up to 2.34 crore equity shares, aggregating INR 1,082 crore. Through the OFS investors such as CA Dawn Investments, a Carlyle group entity, Vida Trustees in its capacity as a partner of Group Life Spring, Brighton Park Capital’s entities BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair will sell stake.Earlier, the company raised INR 549 crore from anchor investors. It had allotted 1.21 crore shares to 36 funds at INR 452 apiece. Among the anchor investors are Capital Group, Fidelity Investments, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI MF, ICICI Prudential MF, Nippon India MF,, DSP MF, Premji Invest, UTI MF, Edelweiss MF, Aditya Birla Sun Life Insurance Company and Bajaj Allianz Life Insurance Company.Kotak Mahindra Capital, Citigroup Global Markets India, J P Morgan India, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the issue.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
