Strong Debut! Indegene shares debut with nearly 46% premium over issue price

Indegene Share Price NSE, BSE: Shares of healthcare tech firm Indegene Ltd made a strong debut on Monday and got listed with a premium of nearly 46 per cent against the issue price of Rs 452. The stock listed at Rs 659.70 on the BSE, a premium of 44.91 per cent over the issue price of Rs 452. At the NSE, it started the trade at Rs 655, registering a gain of 44.91 per cent.

Last seen, the stock was trading at Rs 575.55, down by 12.76 per cent from the issues price on the BSE. 

The Initial Public Offer (IPO) of Indegene got subscribed 69.71 times on the closing day of bidding on Wednesday last week.

The Rs 1,841.75 crore IPO had 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 band for the offer was Rs 430-452 a share.

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

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.