Indegene announces price band for its Rs 1800 crore IPO. Check details
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Health tech firm Indegene has fixed a price band of Rs 430-452 for its maiden public offer, which opens for public subscription on May 6. The company plans to raise around Rs 1,842 crore through the issue, which closes on May 8. The company received a capital markets regulator nod in August last year. The IPO comprises fresh equity issue worth up to Rs 750 crore and offer for sale (OFS) of up to 2.93 crore equity shares by existing investors. Under the OFS, Manish Gupta, Rajesh Bhaskaran Nair, Anita Nair, Carlyle, Brighton Park Capital, Nadathur Family Office among others will offload shares. The 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 compani...