Indegene IPO oversubscribed 69.71 times

Indegene IPO subscribed 69.71 times, with QIBs at 197.55 times, non-institutional investors at 54.75 times, and RIIs at 7.68 times. The IPO raised Rs 1,841.75 crore, with Rs 549 crore from anchor investors. Funds will be used for debt repayment, capital expenditure, and acquisitions. Founded in 1998, Indegene provides solutions to healthcare companies.

The Initial Public Offer (IPO) of healthcare tech firm Indegene got subscribed 69.71 times on the closing day of bidding on Wednesday.

The Rs 1,841.75 crore IPO received bids for 2,01,22,03,281 shares against 2,88,66,677 shares on offer, as per NSE data.

The portion for Qualified Institutional Buyers (QIBs) got subscribed a whopping 197.55 times while the part for non-institutional investors received 54.75 times subscription. The quota for Retail Individual Investors (RIIs) garnered 7.68 times subscription.

The IPO had a fresh issue of up to Rs 760 crore and an offer for sale of up to 2,39,32,732 equity shares.

The price range for the offer remained Rs 430-452 a share.

On Friday, Indegene Ltd said it raised Rs 549 crore from anchor investors.

Funds raised through the fresh issue would be used to pay debt, fund capital expenditure requirements, payment of deferred consideration for one of its past acquisitions, fund inorganic growth and general corporate purposes.

Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle.

Kotak Mahindra Capital Company, Citigroup Global Markets India, J P Morgan India and Nomura Financial Advisory and Securities (India) are the managers to the offer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)