Indegene Ltd., a digital-first commercialisation company focused exclusively on the global life sciences industry, has announced to open its initial public offering on May 6, 2024. The offer will close on Wednesday, May 8, 2024.
The price band of the offer has been fixed from ₹430 per equity shares to ₹452 per share. Bids can be made for a minimum of 33 shares and in multiples of 33 shares thereafter.
The offer comprises a fresh issue of equity shares aggregating up to ₹760 crore and an offer for sale of up to 2,39,32,732 shares by selling shareholders. At the upper price band the IPO size is estimated at ₹1,842 crore.
The company said it intends to use the proceeds of the fresh issue towards funding the repayment /prepayment of indebtedness of one of its material subsidiaries, ILSL Holdings, Inc., funding the capital expenditure requirements of the company and one of its material subsidiaries, Indegene, Inc., as well as funding the general corporate purposes and inorganic growth.
