The initial public offer of healthcare tech firm Indegene got subscribed by 1.67 times on the first day of bidding on Monday.

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The Rs 1,841.75 crore IPO received bids for 4,80,93,837 shares against 2,88,66,677 shares on offer, as per NSE data.

The category for non institutional investors received 4.13 times subscription, while the portion for Retail Individual Investors (RIIs) got subscribed 1.50 times. The quota meant for Qualified Institutional Buyers (QIBs) garnered 5 per cent subscription.

The Initial Public Offer (IPO) has 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 is Rs 430-452 a share.

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

The OFS would see the sale of shares by existing investors CA Dawn Investments, a Carlyle group entity, Vida Trustees in its capacity as a partner of Group Life Spring, Brighton Park Capital's entities BPC Genesis Fund I SPV Ltd, and BPC Genesis Fund I-A SPV Ltd, and individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair.

At present, Nadathur Fareast Pte Ltd is the biggest shareholder in Indegene with a 23.64 per cent stake. CA Dawn Investments has a 20.42 per cent stake, and Brighton Park Capital owns a 12 per cent stake in the company.

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

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.

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.