Indegene IPO day 3: GMP, subscription status, review, other details. Apply or not?

Indegene IPO day 3: Breaking the Lok Sabha election jinx in the primary market, the initial public offering (IPO) hit the primary market on 6th May 2024 i.e. on Monday this week. As per the Indegene IPO subscription status, the public issue has been fully subscribed and it has received strong response from investors across segments. Meanwhile, after strong response by the primary market investors, the ‘grey market premium’ of Indegene IPO has risen on the last date of bidding. The ‘grey market premium’ refers to the difference between the IPO price and the price at which the shares are trading in the grey market. According to stock market observers, shares of the Indegene Ltd are available at a premium of 260 in the grey market today.

Indegene IPO subscription status

By 11:54 AM on day 3 of bidding, the public issue had been booked 10.99 times, whereas the retail portion had been subscribed 5.19 times. The NII portion has been booked 31.06 times, while the QIB portion was booked 6.13 times.

1] Indegene IPO GMP: Shares of the company are available at a premium of 260 in the grey market today, say market observers.

2] Indegene IPO price: The company has a fixed price band for the public issue at 430 to 452 apiece.

3] Indegene IPO date: The book build issue opened on Monday this week and bidding for the public issue will end today evening.

4] Indegene IPO size: The Indegene IPO is a well-structured combination of fresh shares and OFS, with the company aiming to raise a substantial amount of 1841.76 crore. Out of this, 760 crore is targeted through the issuance of fresh shares, a clear indication of the company’s growth plans. The remaining 1081.76 crore is reserved for the OFS route, providing an opportunity for existing shareholders to exit. This strategic financial structure of the IPO reflects Indegene’s thoughtful approach to its public offering, a detail that potential investors should consider.

5] Indegene IPO lot size: A bidder can apply in lots for the mainboard IPO, and one lot of the Indegene IPO comprises 33 company shares. This means that the minimum number of shares an investor can apply for is 33.

View Full Image

Infographic: Courtesy mintgenie

6] Indegene IPO allotment date: The likely date for allotment of shares is 9th May 2024, i.e., Thursday this week.

7] Indegene IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of Indegene IPO. The registrar plays a key role in the IPO process, including handling share allotment, refund, and other related activities.

8] Indegene IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Indegene IPO listing date: In the wake of the ‘T+3 listing rule’, which mandates that shares must be listed on the stock exchange within three business days of the IPO closing, the most likely date for share listing is 13th May 2024.

Indegene IPO: Should you apply?

10] TBO Tek IPO review: Giving a ‘subscribe’ tag to the mainboard IPO, which is a recommendation for potential investors to apply for the IPO, Ventura Securities said, “Indegene’s suite of solutions encompasses enterprise commercial, medical, and clinical solutions, catering to the diverse needs of life sciences companies. With a workforce of 5181 employees and a global footprint spanning North America, Europe, and Asia, the company is well-positioned to meet the evolving needs of its clients. Moreover, Indegene has carved out a unique niche in the market, boasting nearly 98% of global revenue and demonstrating strong growth potential with an anticipated average CAGR of 6.5% in the coming years. Overall, Indegene’s blend of domain expertise and technological prowess positions it as a key partner for life sciences companies seeking to thrive in an increasingly digital-driven landscape.”

SBICAP Securities has given a strong ‘subscribe’ recommendation to this public issue, stating, “Valuation: The company is valued at an annualized FY24 P/E multiple of 30.5x based on the upper price band on the post-issue capital. The company operates with a unique business model and has strategic client relationships with 20 of the Top 20 global biopharmaceutical companies in FY23. The company recorded a strong PAT CAGR of 12.7% between FY21-FY23 and is expected to become net debt free post issue. We highly recommend investors to SUBSCRIBE to the issue.” This positive endorsement from a reputable financial analyst should instill confidence in potential investors.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, and not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Published: 08 May 2024, 10:18 AM IST

Source link

Visited 1 times, 1 visit(s) today

Related Article

Tech stocks could offer best value in years after bumper earnings

Jakub Porzycki | Nurphoto | Getty Images U.S. tech stocks are back in vogue after another stellar earnings season, but Morningstar analysis suggests the sector offers the best value to investors in years. Market chatter in 2024 and 2025 frequently referenced fears of a “bubble” emerging in the top end of the U.S. equity market,

3 European Dividend Stocks To Consider With Up To 8.5% Yield

As the European markets navigate a landscape marked by stalled geopolitical negotiations and fluctuating oil prices, the pan-European STOXX Europe 600 Index has remained relatively stable, reflecting cautious investor sentiment. In this environment of economic uncertainty and steady interest rates from central banks, dividend stocks can offer a measure of stability and income potential for

Nasdaq Fades Late as Hormuz Tension Flares: Stock Market Today

(Image credit: Getty Images) Stocks were mixed to higher for much of a trading session defined by optimism about peace in the Middle East. All three main equity indexes finished in the red, though, after The Wall Street Journal reported the Trump administration is considering resuming an effort to force open the Strait of Hormuz.

3 ASX Penny Stocks With Market Caps Over A$600M

Australia’s stock market has experienced a mix of recovery and challenges, with recent gains tempered by geopolitical tensions and domestic economic shifts. Amidst this backdrop, penny stocks—though an outdated term—remain relevant for investors seeking growth opportunities in smaller or newer companies. By focusing on those with strong financials and potential for growth, investors can discover

Why AppLovin Stock Trounced the Market Today

Adtech company AppLovin (APP +6.42%) was showered with love by the market on the second-to-last trading day of the week. It was no wonder — the company published first quarter results that delivered a pair of convincing beats on analyst estimates. It was rewarded for this with a 6%-plus increase in its share price by

The Trade Desk Stock Collapses 40% YTD, Wall Street Loses Faith

The Trade Desk’s stock collapsed again today after investors reacted badly to its latest earnings report and weak revenue guidance. The adtech company reported first-quarter revenue of $689 million, up 12% year over year. That still showed growth, but it was not enough for a company once valued like one of the strongest winners in

Iran war market jitters offer silver lining for investors

Traders work on the floor of the New York Stock Exchange (NYSE) on May 6, 2026 in New York City. Spencer Platt | Getty Images The Iran war has triggered big swings in the stock market since the conflict started more than two months ago. While sharp selloffs in stocks can be unsettling, they offer

Lincoln National Corporation Q1 2026 Earnings Call Summary

Lincoln National Corporation Q1 2026 Earnings Call Summary – Moby Strategic Execution and Performance Drivers Adjusted operating income grew 16% year-over-year, marking the seventh consecutive quarter of growth driven by balance sheet strengthening and business mix diversification. Management is prioritizing profitability and capital efficiency over top-line volume, specifically shifting the Annuities portfolio toward spread-based products

Have Stock Markets met their top? – Pre-FOMC Dow Jones, Nasdaq and S&P 500 Levels

Elior Manier Market Analyst Elior brings over seven years of experience in financial markets to our analyst team. Since 2018, he has actively engaged in observing, charting, and trading, driven by his passion for mastering market dynamics. With a profound understanding of the geopolitical and macroeconomic forces that shape market movements, Elior focuses on analysing

What Long-Term Investors Should Know Before Buying This Broad Market ETF

The Vanguard Total Stock Market ETF (NYSEMKT: VTI) owns roughly 3,500 U.S. stocks. That sounds like strong diversification for a single fund. It isn’t. The problem exists with the top-heavy concentration at the top of the portfolio. The fund’s top three holdings are Nvidia, Apple, and Microsoft. Combined, they account for 17% of the fund’s

Soluna Holdings (SLNH) Regains Compliance With Nasdaq

Soluna Holdings, Inc. (NASDAQ:SLNH) is one of the top 10 hot penny stocks to buy now. Soluna Holdings, Inc. (NASDAQ:SLNH) announced on May 1 that it received a notice from The Nasdaq Stock Market LLC informing the company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). It regained

US Stock Market Today S&P 500 Futures Edge Higher As Rate Relief Hopes Build

The Morning Bull – US Market Morning Update Thursday, May, 7 2026 E-mini S&P 500 futures are a touch higher this morning, as investors weigh easing tensions in the Middle East against fresh signs of a mixed global economy. Hopes for progress in US Iran talks have pushed oil prices lower and pulled the US

0
Would love your thoughts, please comment.x
()
x