Indegene IPO allotment status: Check application status, latest GMP and listing date

Indegene is scheduled to finalize the basis of allotment of its shares on Thursday, May 09. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday or over the weekend, by May 11. The digital services for the biopharma player had received a robust response from the investors.
 

The IPO of Indegene was open for bidding May 06 and May 08. The Bengaluru-based company had offered its shares in the fixed price band of Rs 430-452 per share with a lot size of 33 shares. The company raised a little more than Rs 1,841.76 crore via its primary offering, which included a fresh share sale of Rs 760 crore and an offer-for-sale (OFS) of up to 1,68,14,159 equity shares.
 

The issue was overall subscribed a stellar 69.91 times. The quota for qualified institutional bidders (QIBs) was booked a whopping 197.55 times The quota for non-institutional investors was subscribed 55.07 times. The portions reserved for retail investors and employees saw bidding for 7.95 times and 6.48 times, respectively during the three-day bidding process.
 

Grey market premium (GMP) of Indegene has surged sharply following the closure of the bidding process. Last heard, the company was commanding a premium of Rs 290-300 per share, suggesting a listing pop of around 62-65 per cent for the investors. However, it was around Rs 240 apiece, when the issue kicked-off for bidding.
 

Indegene has provided digital services for the life sciences industry. The company assists with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and more. It provides enterprise commercial solutions; omnichannel activation enterprise medical solutions; enterprise clinical solutions and consultancy services.
 

Brokerage firms are mostly positive on the issue citing its niche business model, potential debt-free signals, strong financials, robust growth prospects and long-term relationship with leading biopharma players. However, dependence of subsidiaries from revenues, loss of clients, more competition and rich valuations are some concerns for the company.
 

Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India and Nomura Financial Advisory and Securities (India) are the book running lead managers of the Indegene IPO, while Link Intime India is the registrar for the issue. of the company shall be listed at both BSE and NSE on May 13, Monday.
 

Investors, who had bid for the issue of Indegene, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Indegene Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.