Digital Pharma Services - Listed on 13 May 2024
Indegene (Digital Pharma Services) closed its IPO window in 2024 and listed on NSE and BSE on 13 May 2024 at an upper band issue price of Rs 452, opening at Rs 622 for a listing gain of +37.6% and closing day one at Rs 570 (+26.1% on closing basis). The IPO was subscribed 86.40x overall - QIB 125.51x, HNI/NII 50.36x, Retail 24.50x. The total issue size was Rs 1,841.76 Cr (Fresh Issue Rs 1150.81 Cr, OFS Rs 690.95 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Digital Pharma Services
Indegene operates in the Digital Pharma Services space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Indegene issue was offered at an upper price of Rs 452 and raised approximately Rs 1,841.76 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 460 | +59.73% |
| Day 2 | Rs 500 | +112.83% |
| Day 3 | Rs 485 | +112.83% |
| Day 4 | Rs 520 | +111.73% |
| Day 5 | Rs 505 | +115.04% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Indegene IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Indegene IPO listed at +37.6% versus the upper issue price of Rs 452 on 13 May 2024.
Indegene IPO was subscribed 86.40x overall. QIB portion was subscribed 125.51x, HNI / NII 50.36x and Retail 24.50x.
IPO GMP started at Rs 460 on Day 1 and moved to Rs 505 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.