Ahead of IPO, Indegene raises ₹549 crore from anchor investors

Indegene Limited, on May 3, garnered over ₹548.77 crore from anchor investors at the upper price band of ₹452 per equity share ahead of initial public offerings (IPO).

Indegene IPO, which is scheduled to open for subscription on May 4, has allocated 12,141,102 equity shares to 36 anchor investors, as per the exchange filing.

“The IPO Committee of the Company in their meeting held on May 3, 2024, in consultation with Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited (“Book Running Lead Managers”), has finalized allocation of 12,141,102 Equity Shares, to Anchor Investors at Anchor Investor Allocation Price of ₹452/- per Equity Share (including share premium of ₹450/- per Equity Share),” the company said in its filing.

The anchor book saw participation from a wide variety of marquee investors, including Capital Group, one of the world’s largest investment management firms, Fidelity Investments, Loomis Sayles & Company, Jupiter Asset Management, Abu Dhabi Investment Authority, SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund, Premji Invest, Custody Bank of Japan, WhiteOak Capital Management, UTI Mutual Fund, Bandhan Mutual Fund, Invesco Mutual Fund, Edelweiss Mutual Fund, Baroda BNP Paribas Mutual Fund, Aditya Birla Sun Life Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited, Bharti AXA Life Insurance Company Limited, East Bridge Capital Master Fund Limited, Kotak Funds and Copthall Mauritius Investment Limited.

Out of the total allocation of 12,141,102 equity shares to the anchor investors, 48,05,156 equity shares (i.e. 39.58% of the total allocation to Anchor Investors) were allocated to 10 domestic mutual funds through a total of 18 schemes.

The company which provides digital services for the life science sector, has recently announced the price range for the Indegene IPO, set at ₹430 to ₹452 per equity share.

The company plans to raise ₹1,841.76 crore from this initial offering, with ₹760 crore targeted for the issuance of fresh shares. The balance of ₹1,081.76 crore is allocated for the OPFS route. LiveMint