Indegene IPO
Indegene Limited (INDGN) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 13 May 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +45.8% (likely range +33% to +92%), day's high +69.0%, chance of a gain 92%. Actual: +44.9% at the open, +46.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 78,95,950 | 1,55,98,65,945 | 198x | |
| NII (HNI) total | 61,97,468 | 34,13,07,846 | 55.1x | |
| Big NII (above ₹10 lakh) | 41,31,646 | 25,18,64,613 | 61.0x | |
| Small NII (₹2-10 lakh) | 20,65,822 | 8,94,43,233 | 43.3x | |
| Retail | 1,44,60,759 | 11,49,79,788 | 7.95x | |
| Employees | 3,12,500 | 20,24,583 | 6.48x | |
| Total | 2,88,66,677 | 2,01,81,78,162 | 69.9x |
Bids on NSE and BSE together, as published by NSE, as of 08 May 2024, 07:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Indegene's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| SBFC FinanceAug 2023 | 193x | 49.1x | 11.0x | 70.2x | ₹1,082 Cr | +43.9% | +67.5% |
| Jupiter Life Line HospitalsSep 2023 | 187x | 34.8x | 7.73x | 63.7x | ₹886 Cr | +32.4% | +50.9% |
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
| Rashi PeripheralsFeb 2024 | 144x | 62.8x | 10.4x | 59.7x | ₹633 Cr | +9.2% | +10.2% |
| Happy ForgingDec 2023 | 220x | 62.2x | 15.1x | 82.0x | ₹1,006 Cr | +17.6% | +27.9% |
| Tata TechnologiesNov 2023 | 203x | 62.1x | 16.5x | 69.4x | ₹3,043 Cr | +140.0% | +180.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Indegene IPO price band and lot size? ₹430–452 per share, with a lot of 33 shares, so the smallest retail bid is ₹14,916.
How many times has it been subscribed? 69.9x overall: QIB 198x, NII 55.1x, retail 7.95x, employees 6.48x.
How did it list? It opened at ₹655, +44.9% against the issue price of ₹452, and closed its first day +26.3%.
