Shares of Indegene listed with nearly 46 percent premium
New Delhi: Shares of Indegene Ltd, a healthcare technology company, debuted on the stock market Monday at a 45.95% premium over its issue price of Rs 452. The stock opened at Rs 659.70 on the BSE.
At the NSE, it started the trade at Rs 655, registering a gain of 44.91 per cent.
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.
According to PTI, 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
Next Story