Facts about Indegene
Indegene IPO has recently been announced. Indegen is a Bangalore-based company that was established in the year 1988. This start-up was started by 5 entrepreneurs, Gaurav Kapoor, Dr. Rajesh Nair, Manish Gupta, Anand Kiran, and DR. Sanjay Parikh. The company’s initial focus lied in medical education and its first acquisition was Medsn. Currently, its provides technology that modernizes it’s customer’s operations for more sustainable growth. They promote fit-for-purpose technology and inculcate Artificial intelligence to accelerate outcomes and sales.
One of their motives is to Elevate the experience of engagement between the shareholders and to bring top-notch technology into the pharma game to keep up with the rest of the world. They have proven expertise in the clinical, medical, and commercial worlds. They believe in the improvement of effectiveness, efficiency, and experience of the projects they handle.
They have 17 offices around the world including the USA, Canada, and now India. They also assist various pharma companies in clinical trials, drug development, and commercial solutions.
Indegene IPO
On May 6th Indegen announced that they would start IPO – Initial Public Offering. IPO is a financial term that means shares of a private company in this case Indegene are available for the public. This is mainly used to regain or raise investment money or equity capital. This is also used as an exit strategy by the founders and the early investors. Shifting from a private company to a public one is an important step as it gives an idea about the future prospect of the company. It builds the foundation for a company and leads it on the way to success. It also gives the company a greater ability for growth
. In today’s grey market, Indegenes shares can be bought at 246 rupees. The digital service provider as set the price at an astonishingly less rate of 430 increasing to 450. Many economist believe that the reason this price was set is to extend their reach to a much broader clientele. This was a brilliant strategy played by Indegene as on the first day they made a whopping profit of 760 crore. 12141102 shares were already allocated to anchor investors. Anchor investors are investors who make an application for over 10 crores.
Indegene IPO Facts
The bidding date is open till 8th May (Wednesday). The company aims to raise 1841.76 crores by the end of the IPO. In this, 760 crores is reserved for the growth of the company while the rest is 1081 providing an opportunity for the existing shareholders to exit. Kotak Mahindra Capital Company Limited, JP. Morgan India Pvt Limited, Citigroup Global Market Pvt Limited Nomura Financial Advisor, and Securities India Pvt Limited are the book-running leading managers for this IPO.
