Get ready for the excitement as Dalal Street gears up for two significant upcoming IPO events – the IPO launch of Indegene and the listing of JNK India. Scheduled for May 6, Indegene’s IPO promises innovation in healthcare solutions, while JNK India’s listing tomorrow offers a fresh opportunity for investors.
Let us explore these IPO investment opportunities in detail!
Indegene IPO| Scheduled to Open on May 6
As a digital-first life sciences commercialisation company, Indegene assists biopharmaceutical, emerging biotech, and medical device companies in developing products. Private equity firms Carlyle and Nadathur Fareast back Indegene. The company aims to deliver personalised, scalable, and omnichannel experiences for patients and physicians.
Details of the Indegene IPO
Key Values, Dates, and Figures:
| IPO Opening Date: May 6 |
| IPO Closing Date: May 8 |
| Price Band Announcement Date: April 29 |
| Likely Issue Size: Rs 1,750-2,500 crore |
| Fresh Issuance of Equity Shares: Rs 760 crore |
| OFS Equity Shares: 2,39,32,732 |
| Largest Shareholder: Nadathur Fareast Pte Ltd |
| Stake of Largest Shareholder: 23.64% |
The IPO comprises a fresh issuance of equity shares worth Rs 760 crore and an offer-for-sale (OFS) of 2,39,32,732 equity shares by existing shareholders. The price band for the issue will be announced on April 29, with the expected issue size ranging between Rs 1,750-2,500 crore.
Shareholders and Stakeholding
Notable selling shareholders in the OFS include Manish Gupta, Dr. Rajesh Bhaskaran Nair, Anita Nair, and others. Nadathur Fareast Pte Ltd holds the largest stake in Indegene, followed by CA Dawn Investments, a Carlyle entity.
Brighton Park Capital’s Involvement
Brighton Park Capital, a private equity firm, owns a significant portion of shares in Indegene, totalling 12.07%.
Allocation and Offering
The IPO reserves up to 50% of the net issue size for qualified institutional buyers (QIB), 15% for non-institutional investors, and the remaining 35% for retail investors. The anchor book, comprising up to 60% of the QIB portion, will open on May 3.
Utilisation of Indegene IPO Proceeds
Indegene plans to utilize the net fresh issue proceeds for various purposes, including debt repayment and capital expenditure requirements.
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Business Overview and Financial Performance
Indegene supports life sciences companies with various services and has a strong client base across different regions. Financially, the company has shown growth, with a significant increase in net profit and revenue.
Book-Running Lead Managers and Registrar
Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India) are the book-running lead managers. Link Intime India serves as the registrar to the offer.
What about the upcoming IPO listing this week?
JNK India IPO| Set to List Tomorrow with Rs 649.47 Crore Issue
JNK India IPO, a book-built issue valued at Rs 649.47 crores, comprises a fresh issue of 0.76 crore shares totalling Rs 300.00 crores and an offer for sale of 0.84 crore shares amounting to Rs 349.47 crores.
Bidding for the JNK India IPO commenced on April 23, 2024, and concluded on April 25, 2024.
The JNK IPO has a tentative listing date scheduled for Tuesday, April 30, 2024.
The price band for the JNK India IPO is set at ₹395 to ₹415 per share, with a minimum lot size for an application consisting of 36 shares.
Conclusion
With Indegene’s IPO on the horizon and JNK India set to list, Dalal Street braces for significant shifts. These events not only signify IPO opportunities for investors but also underscore the evolving Indian market. As these milestones approach, it’s crucial for investors to research well before investing in any Dalal Street IPO.
Source– moneycontrol.com , moneycontrol.com
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.