Indigene IPO: What does GMP indicate ahead of share listing on Monday?

Indegene IPO allotment has been finalized and investors are now waiting for the Indegene IPO listing which is scheduled for Monday. Ahead of the share listing, Indegene IPO GMP signals a strong stock market debut today.

The initial public offering (IPO) of Indigene Limited, a company providing digital services to the life sciences industry, was opened from May 6 to May 8. The IPO allotment was finalized on May 10 and Indigene IPO listing date is May 13 (Monday). ,

To know the estimated listing price of Indigene shares, investors keep an eye on Indigene IPO GMP before the listing. Gray market trends are indicative of listing price.

Indigene IPO GMP

Gray market trends indicate that the Indigen IPO listing will be at a strong premium. According to market observers, Indegene IPO is GMP today 290 per share. This means that Indegene shares are trading higher. Each is priced at Rs 290, higher than their IPO price in the gray market 452 per share.

Considering today's IPO price and GMP, the Indigen IPO listing price is estimated to be around 742 per share, which is a 64.16% premium to the issue price.

Also read: Aadhar Housing Finance IPO allotment will take place on May 13. Steps to check latest GMP, application status

Swadeshi IPO Listing

Indegene IPO listing date has been set for Monday, May 13. Shares of Indegene Ltd will make their debut on both the stock exchanges, BSE and NSE, on May 13.

A notice said, “Trading members of the exchange are informed that with effect from Monday, May 13, 2024, the equity shares of Indgene Limited will be listed on the Exchange in the list of 'B' Group of Securities and after the transaction Will be accepted for.” BSE said.

Trading in Indegene shares will begin at 10am on Monday and the shares will be part of the Special Pre-Open Session (SPOS).

Swadeshi IPO Subscription Status

Indegene IPO has received strong demand during its subscription period. The IPO was subscribed a total of 70.30 times as bids were received for 201.24 crore equity shares against 28.62 lakh shares on offer.

The public issue was subscribed 7.86 times in the retail category, while the qualified institutional bidders (QIB) category was booked 192.72 times. The non-institutional investors (NII) portion was subscribed 55.91 times as of May 8.

Also read: TBO Tech IPO allotment will be finalized on May 13. Steps to check latest GMP status

Indigene IPO Details

Bidding for the Indegene IPO began on May 6 and ended on May 8. The IPO allotment was finalized on May 10 and Indegene's equity shares will be listed on both the stock exchanges – BSE and NSE – on May 13.

The Indgene IPO worth Rs 1,841.76 crore was a combination of fresh issue of aggregating 1.68 crore equity shares. 760 crore and an aggregate offer for sale (OFS) of 2.39 crore shares. 1,081.76 crore. The price band of Indegene IPO was determined from 430 452 per share.

The Company proposes to utilize the net issue proceeds for repayment of indebtedness of one of the material subsidiaries, ILSL Holdings, Inc., capital expenditure requirements and general corporate purposes and inorganic growth.

Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead managers to the Indigen IPO, while Link Intime India is the IPO registrar.

Read all IPO news here

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Published: May 11, 2024, 03:13 PM IST

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