The scrip was listed at Rs 659.70, exhibiting a premium of 45.95% to the issue price.
So far, the stock has hit a high of 659.70 and a low of 552.40. On the BSE, over 11.34 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Indegene was subscribed 69.91 times. The issue opened for bidding on 6 May 2024 and closed on 8 May 2024. The price band of the IPO was fixed at Rs 430 to 452 per share.
The offer comprised fresh issue of equity shares worth up to Rs 760 crore and an offer for sale of 2,39,32,732 equity shares aggregating up to Rs 1,081.76 crore.
The objectives of the fresh issue include Rs 391 crore for repayment/prepayment of debt; Rs 103 crore to fund working capital requirement and the remaining amount to be used for general corporate purposes and inorganic growth.
Indegene provides digital-led commercialization services for the life sciences industry, including biopharmaceutical, emerging biotech, and medical devices companies. The company assists in drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales and marketing.
The company provides services such as enterprise commercial solutions, omnichannel activation, enterprise medical solutions and enterprise clinical solutions and consultancy services.
The firm reported a net profit of Rs 241.90 crore and sales of Rs 1,916.61 crore for the nine months ended on 31 December 2023.