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Indegene Limited IPO

Indegene Limited IPO Basis of allotment

THIS IS APUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOTAPROSPECTUSANNOUNCEMENTANO DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE. PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE. PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA. THE EQUITY SHARES OF OUR COMPANY WILL GET LISTED ON THE MAIN BOARD PLATFORM OF BSE LIMITED ("BSE') AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED NSE. AND TOGETHER WITH BSE. THE STOCK EXCHANGES') IN COMPLIANCE WITH CHAPTER II OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS. 2018. AS AMENDED (SEBI ICDR REGULATIONS').

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INDEGENE LIMITED

Our Company was incorporated as Indegene Lifesystems Private Limited' at Ahmedabad. Gujarat, as a private limited company, under the Companies Act. 1956, pursuant to a certificate of incorporation dated October 16.1998, issued by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli at Ahmedabad. Thereafter, the registered office of our company was shifted from Gujarat to Karnataka in June 2003. and then, from Karnataka to Maharashtra in May 2014. Further, pursuant to a resolution passed by our Shareholders at the EGM held on February 29.2016 the name of our Company was changed to Indegene Private Limited' and a fresh certificate of incorporation was issued by the registrar of companies. Maharashtra at Mumbai on May 26,2016. The name of our Company was changed to better reflect the nature of business undertaken by our Company. Thereafter, the registered office of our Company was shifted from Maharashtra to Karnataka in February 2017. Subsequently, our Company was converted from a private limited company to a public limited company, pursuant to a special resolution passed by our Shareholders at the EGM held on November 7,2022 and the name of our Company was changed to Indegene Limited' and a fresh certificate of incorporation was issued to our Company by the Registrar of Companies. Karnataka at Bengaluru ("RoC"), on November 17, 2022 For further details on the changes in the name and registered office of our Company, see ‘History and Certain Corporate Matters - Brief History of our Company'and"History and Certain Corporate Matters - Changes in the registered office' on page 170 of the Prospectus dated May 9.2024 fled with the RoC ("Prospectus'')

Registered and Corporate Office: Aspen Block G4,3rd Floor. Manyata Embassy Business Park. Outer Ring Road. Nagawara, Bengaluru - 560 045, Karnataka, India;
Tel: +91 80 4674 4567/ +91 80 4644 7777; Website: www.indegene.com; Contact person: Srishti Ramesh Kaushik, Company Secretary and Compliance Officer,
E-mail: compliance.officer@indegene.com: Corporate Identity Number: U73100KA1998PLC102040
OUR COMPANY IS A PROFESSIONALLY MANAGED COMPANY AND DOES NOT HAVE AN IDENTIFIABLE PROMOTER

Our Company has filed the Prospectus dated May 9, 2024 with the RoC (the "Prospectus") and the Equity Shares (as defined below) are proposed to be listed on the Main Board platform of stock Exchanges and the trading is expected to commence on May 13,2024.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 40,766,550 EQUITY SHARES OF FACE VALUE OF RS.2 EACH ("EQUITY SHARES") OF INDEGENE LIMITED (OUR "COMPANY" OR THE "COMPANY") FOR CASH AT A PRICE OF RS. 452 PER EQUITY SHARES (INCLUDING A PREMIUM OF RS.450 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING RS.18,417.59 MILLION (THE "OFFER") COMPRISING A FRESH ISSUE OF 16,833,818 EQUITY SHARES AGGREGATING TO RS. 7,600 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 23,932,732 EQUITY SHARES AGGREGATING TO RS.10,817.59 MILLION (THE "OFFER FOR SALE"), CONSISTING OF 1,118,596 EQUITY SHARES AGGREGATING TO RS.505.61 MILLION BY MANISH GUPTA, 3,233,818 EQUITY SHARES AGGREGATING TO RS.1,461.69 MILLIONRS. BY DR. RAJESH BHASKARAN NAIR, 1,151,454 EQUITY SHARES AGGREGATING TO Rs.520.46 MILLION BY ANITA NAIR (COLLECTIVELY WITH MANISH GUPTA AND DR. RAJESH BHASKAR AN NAIR, THE "INDIVIDUAL SELLING SHAREHOLDERS"), 3,600,000RS. EQUITY SHARES AGGREGATING TO RS.1,627.20 MILLION BY VIDA TRUSTEES PRIVATE LIMITED, 2,657,687 EQUITY SHAES AGGREGATING TO RS. 4,878.28 MILLION BY RS.1,201.27 MILLION BY BPC GENESIS FUND I SPV, LTD, 1,378,527 EQUITY SHARES AGGREGATING TO RS.623.09 MILLION BY BPC GENESIS FUND l-A SPV, LTD. AND 10,792,650 EQUITY SHARES AGGREGATING TO RS. 125.00 CA DAWN INVESTMENTS (COLLECTIVELY WITH VIDA TRUSTEES PRIVATE LIMITED, BPC GENESIS FUND I SPV, LTD AND BPC GENESIS FUND l-A SPV, LTD., THE "INVESTOR SELLING SHAREHOLDERS" AND COLLECTIVILY WITH THE INDIVIDUAL SELLING SHAREHOLDERS, THE "SELLING SHAREHOLDERS" AND SUCH EQUITY SHARES, THE "OFFERED SHARES"). THE OFFER INCLUDES A RESERVATION OF 296,208 EQUITY SHARES, AGGREGATING TO RS. 125.00 MILLION (CONSTITUTING 0.12% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL), FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES ("EMPLOYEE RESERVATION PORTION"). OUR COMPANY, IN CONSULTATION WITH THE BRLMS OFFERED A DISCOUNT OF RS.30 PER EQUITY SHARE) TO ELIGIBLE EMPLOYEES WHO BID IN THE EMPLOYEE RESERVATION PORTION ("EMPLOYEE DISCOUNT"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER CONSTITUTE 17.04% AND 16.91% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

ANCHOR INVESTOR OFFER PRICE: Rs.452 PER EQUITY SHARE OF FACE VALUE OF 12 EACH
OFFER PRICE: Rs.452A PER EQUITY SHARE OF FACE VALUE OF U EACH
THE OFFER PRICE IS 226 TIMES THE FACE VALUE OF THE EQUITY SHARES.

AA DISCOUNT OF (30 PER EQUITY SHARE WAS OFFERED TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE RESERVATION PORTION.

RISKS TO INVESTORS

1. Industry concentration risk: All of our revenues are earned from clients in the life sciences industry, a significant portion (93.29% of revenue from operations for the nine months ended December 31, 2023) of which is attributable to clients in the biopharmaceutical industry. Consequently, demand for our solutions, depend on, among other things: (I) the pace of growth of the life sciences industry; and (ii) trends in the life sciences industry, including outsourcing trends, healthcare reform and the pace of digitization.

2. Client concentration risk: We have in the past derived, and we believe that we will continue to derive, a significant portion of our revenue from certain large clients. The following table sets forth our revenues from operations from our top five customers and top ten customers in absolute terms and as a percentage of total revenue from operations.

(Rs. In million, except percentages)

For the nine months ended December 31,

2023

2022

Revenue from operations from top five customers

9,154.30

47.76%

8,255.32

49.32%

Revenue from operations from top ten customers

12,784.85

66.71%

11,277.75

67.37%

Excludes revenue from discontinued operations. , (Rs.in million, except percentages)

For the Financial Year

2023

2022

2021

Revenue from operations from top five customers

11,344.67

49.19%

9,175.76

55.12%

5,446.52

56.37%

Revenue from operations from top ten customers

15,450.68

67.00%

11,927.15

71.65%

6,949.95

71.93%

Excludes revenue from discontinued operations.

3. Prospective investors may be less familiar with our business compared to those of other service providers, such as IT/BPO service providers or product or platform organizations, who may serve a diversified client base across various industries.

4. Higher dependence on subsidiaries: The majority of our revenues are derived from our Subsidiaries. Set forth below are our revenues from our Subsidiaries also expressed as a percentage of our Company's total revenue from operations.

For the nine months ended December 31,

For the Financial Year

2023

2022

2023

2022

2021

Indegene Limited

6.46%

7.87%

7.21%

7.95%

20.61%

Indegene, Inc.

79.56%

86.19%

85.07%

87.36%

75.35%

Other subsidiaries

13.98%

5.95%

7.72%

4.69%

4.04%

Total

100.00%

100.00%

100.00%

100.00%

100.00%

Excludes revenue from discontinued operations.

5. Competition risk: The life sciences operations industry is highly competitive. Our future growth and success will depend on our ability to successfully compete with other companies that provide similar solutions in the same markets, some of which may have financial, marketing, technical and other advantages.

6. Objects related risks: We propose to utilize approximately 54.99% of the Net Proceeds by way of investments in our Subsidiaries by way of debt, subject to applicable laws, towards identified objects of the Offer. As our Subsidiaries are subject to, and have to ensure compliance with, the laws of the countries in which they are incorporated, the utilization of such funds by our Subsidiaries would be subject to the requirements of the laws of the countries in which our Subsidiaries are incorporated and accordingly we may have limited control over the manner in which such funds are utilized by our Subsidiaries.

7. Employee dependency related risk: Our business depends upon our ability to attract, develop, motivate, retain and effectively utilize skilled professionals.

(Rs. in million, except percentages)

For the nine months ended December 31,

For the Financial Year

2023

2022

2023

2022

2021

Employee benefits expense

12,232.42

10,472.84

14,647.57

10,143.43

5,355.96

Employee benefits expense as a percentage of total expenses

74.38%

72.98%

73.20%

71.58%

69.72%

Employee benefits as a percentage of total income

62.10%

60.93%

61.96%

60.00%

53.73%

8. Pricing risk: If we under price our work orders, overrun our cost estimates, or fail to receive approval for or experience delays in documentation of change orders, our business, financial condition, results of operations, or cash flows may be adversely affected.

9. In the audit report issued by our Company's statutory auditors for the Financial Year 2022, our statutory auditors have included an emphasis of matter to draw attention to the fact that in accordance with the Scheme of Arrangement approved by the NCLT, our Company has given effect to the Scheme from a retrospective appointment date which overrides the relevant requirement of accounting principles generally accepted in India. In addition, the audit report issued for our audited special purpose consolidated interim financial statements as of and for the

nine months ended December 31,2022 and December 31,2023 includes an emphasis of matter paragraph stating that such special purpose consolidated interim financial statements have been prepared for the purpose of preparation of the Restated Consolidated Financial Information in connection with this Offer and, as a result, may not be suitable for any other purpose.

10. New business procurement risk: Our business is dependent on our ability to generate engagements for providing solutions to our clients and the prices that we are able to charge for provision of such solutions. We typically enter into master service agreements ("MSAs") with our clients ranging from one to three years, which broadly set out terms of our engagements, and we execute separate work orders for individual engagements setting out commercial terms. Our inability to generate new engagements on a timely basis and subsequently execute work orders for such engagements could impact our business.

11. Price/ Earning (P/E) ratio based on diluted EPS for Financial Year 2023 for the issuer at the Cap price of the Price band is 37.76 times. There are no listed companies in India and globally that engage in a business that is similar to that of our Company. Accordingly, we have not provided an industry comparison in relation to our Company.

12. International operations related risk: Our international operations expose us to complex management, legal, tax and economic risks, and exchange rate fluctuations, which could adversely affect our business, financial condition and results of operations.

13. Weighted Average Return on Net Worth for Financial Year ended 2023,2022 and 2021 is 27.37%.

14. Weighted average cost of acquisition for the Equity Shares transacted by Selling Shareholders and Shareholders with special right to nominate one or more directors on the Board of the Company and in the 1 year, 18 months and 3 years preceding the date of the Prospectus is as follows:

Period

Weighted Average Cost of Acquisition (in Rs.)

Cap Price is ‘X' times the Weighted Average Cost of Acquisition

Range of acquisition price: Lowest Price - Highest Price (in l)

Last one year

N.A.

N.A.

N.A.

Last 18 months

N.A.

N.A.

N.A.

Last three years

N.A.

N.A.

N.A.

^ As certified by Manian & Rao, Chartered Accountants pursuant to certificate dated May 9, 2024.

15. The average cost of acquisition per Equity Share by the Selling Shareholders as on the date of the Prospectus is as follows:

Name

Number of Equity Shares

Average cost of acquisition per Equity Share<1) (in

Individual Selling Shareholders
Manish Gupta

22,575,672

0.05

Dr. Rajesh Bhaskaran Nair

20,301,204

0.11

Anita Nair

1,376,298

Negligible121

Investor Selling Shareholders
Vida Trustees Private Limited (Trustee of Fig Tree Trust) in its capacity as partner of Group Life Spring

9,188,802

93.71131

BPC Genesis Fund 1 SPV, Ltd.

17,717,910

201.48

BPC Genesis Fund l-ASPV, Ltd.

9,190,178

201.48

CA Dawn Investments

45,531,837

201.48

1) As certified by Manian & Rao. Chartered Accountants, by way of certificate dated May 9, 2024.

2) Less than 0.01.

3) During the year ended March 31 2021, the Group has demerged its Commercial Software Business ('Demerged Business') pursuant to a scheme of arrangement ("Scheme") for transfer of the Demerged Business to OT Services Private Limited ("Resulting Company"). The Resulting Company issued either its equity or redeemable preference shares in consideration to each shareholder of the Group on a proportionate basis. The Scheme has been approved by the National Company Law Tribunal (‘NCLT) with the appointed date of October 1,2020. The consideration paid by Vida Trustees for acquisition ofOCCPS in the company has been proportionately adjusted to give impact of the demerged for the purpose of calculating weighted average cost of acquisition.

16. WACA, Floor Price and Cap Price

Past Transactions Weighted average cost of acquisition (in Floor Price (inRs.) Cap Price (inRs.)
WACA of Primary Transactions Nil N.A. N.A.
WACA of Secondary Transactions 437.03 0.98 times 1.03 times

As certified by Manian & Rao, Chartered Accountants pursuant to certificate dated May 9, 2024

17. The 4 BRLMs associated with the Offer have handled 26 public issues in the past three years out of which 5 issues closed below the issue price on listing date.

Name of the BRLMs Total Issues Issues closed below IPO Price on listing date
Kotak Mahindra Capital Company Limited* 11 1
Citi Global Markets India Private Limited* 2 -
J.P. Morgan India Private Limited* 1 -
Nomura Financial Advisory and Securities (India) Private Limited* 2 1
Common Issues handled by the BRLMs 10 3
Total 26 5

'Issues handled where there were no common BRLMs

BID/OFFER PROGRAMME:
ANCHOR INVESTOR BIDDING DATE OPENED AND CLOSED ON: FRIDAY, MAY 3, 2024
BID/OFFER OPENED ON : MONDAY, MAY 6, 2024
BID/OFFER CLOSED ON : WEDNESDAY, MAY 8, 2024

This Offer was made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBIICDR Regulations. This Offer was made through the Book Building Process and is in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers CQIBs', and such portion, the "QIB Portion') provided that our Company in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion* *), of which at least one- third was available for allocation to domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares was added to the Net QIB Portion. Further, 5% of the Net QIB Portion was available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Net Offer was available for allocation to Non-institutional Bidders of which (a) one-third of such portion was reserved for applicants with application size of more than *200,000 and up to *1.000.000; and (b) two-third of such portion was reserved for applicants with application size of more than

*1,000,000, provided that the unsubscribe portion in either of such sub-categories could have been allocated to applicants in the other subcategory of Non-institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received above the Offer Price, and not less than 35% of the Net Offer was available for allocation to Retail Individual Bidders ( RIBs') in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion would be added to the remaining QIB Portion for proportionate allocation to QIBs. Further. Equity Shares were allocated on a proportionate basis to Eligible Employees who applied under the Employee Reservation Portion, subject to valid Bids having been received from them at or above the Offer Price. All Bidders (except Anchor Investors) were required to mandatory utilize the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA accounts (including UPI ID for UPI Bidders using UPI Mechanism) (as defined hereinafter) in which the Bid Amount was blocked by the SCSBs or the Sponsor Banks, as applicable, to participate in the Offer. Anchor Investors were not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process. For details, see "Offer Procedure* on page 362 of the Prospectus.

The bidding for Anchor Investor opened and closed on Friday May 3, 2024. The company received 36 applications from 28 anchor investors for 1,23,86,814 Equity Shares. The Anchor investor price was finalized at *452 per Equity Share. Atotal of 1,21.41,102 shares were allocated under the Anchor Investor Portion aggregating to Rs. 5,48.77,78,104.00/-

The Offer (post Anchor) received 29,31,413 applications for 2,02,80,65.226 Equity Shares (prior to rejections) resulting in 70.85 times subscription. The details of the applications received in the Offer (post Anchor) from various categories are as under: (before rejections):

Sr. No.

Category

No of Applications received

No. of Equity Shares applied

No. of Equity Shares available for allocation (as per Prospectus)

No. of times Subscribed

Amount (*)

A

Retail Individual Bidders

26,01,306

12,24,21,750

1,41,64.620

8.64

55,33,96,92,837,00

B

Non-lnstitutional Bidders - More than *0.20 million Up to *1.00 million

1,89,336

9,31,66,590

20,23,518

46.04

42,11,03,74,185,00

C

Non-lnstitutional Bidders - Above *1.00 million

1,07,643

25,42,61,502

40,47,034

62.83

1,14,92,53,42,290,00

D

Eligible Employees

32,933

20,95,632

2,96,208

7.07

88,36,55,883,00

E

Qualified Institutional Bidders (excluding Anchors Investors)

195

1,55,61,19,752

80,94,068

192.25

7,03,36,61,27,904,00

TOTAL

29,31,413

2,02,80,65,226

2,86,25,448

70.85

9,16,62,51,93,099,00

Final Demand

A summary of the final demand as at different Bid prices is as under:

Sr. No.

Bid Price

No. of Equity Shares

% to Total

Cumulative Total

Cumulative % to Total

1

430

5,10,807

0.02

5,10,807

0.02

2

431

20,130

0.00

5,30,937

0.03

3

432

34,617

0.00

5,65,554

0.03

4

433

13,431

0.00

5,78,985

0.03

5

434

7,458

0.00

5,86,443

0.03

6

435

61,050

0.00

6,47,493

0.03

7

436

5,445

0.00

6,52,938

0.03

8

437

6,699

0.00

6,59,637

0.03

9

438

7,194

0.00

6,66,831

0.03

10

439

5,742

0.00

6,72,573

0.03

11

440

1,66,188

0.01

8,38,761

0.04

12

441

34,848

0.00

8,73,609

0.04

13

442

24,552

0.00

8,98,161

0.04

14

443

3,960

0.00

9,02,121

0.04

15

444

19,833

0.00

9,21,954

0.04

16

445

67,155

0.00

9,89,109

0.05

17

446

11,451

0.00

10,00,560

0.05

18

447

9,504

0.00

10,10,064

0.05

19

448

38,247

0.00

10,48,311

0.05

20

449

14,520

0.00

10,62,831

0.05

21

450

2,59,083

0.01

13,21,914

0.06

22

451

2,20,902

0.01

15,42,816

0.07

23

452

1,93,18,79,070

93.77

1,93,34,21,886

93.85

24

9.999

12,67,70,523

6.15

2,06,01,92,409

100.00

TOTAL

2,06,01,92,409

100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on May 9, 2024.

A. Allotment to Retail Individual Investors (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs.452 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 8.25 times. The total number of Equity Shares Allotted in Retail Portion is 1,41,64,620 Equity Shares to 4,29,230 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are as under:

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
1 33 22,00,565 88.71 7,26,18,645 62.14 33 95:549 1,25,66,070
2 66 1,23,473 4.98 81,49,218 6.97 33 95:549 7,05,078
3 99 47,178 1.90 46,70,622 4.00 33 95:549 2,69,412
4 132 17,306 0.70 22,84,392 1.95 33 95:549 98,835
5 165 16,561 0.67 27,32,565 2.34 33 95.549 94,578
6 198 9,055 0.37 17,92,890 1.53 33 95:549 51,711
7 231 9,295 0.37 21,47,145 1.84 33 95:549 53,064
8 264 3,906 0.16 10,31,184 0.88 33 95:549 22,308
9 297 2,284 0.09 6,78,348 0.58 33 95:549 13,035
10 330 9,084 0.37 29,97,720 2.57 33 95:549 51,876
11 363 1,471 0.06 5,33,973 0.46 33 95:549 8,382
12 396 2,200 0.09 8,71,200 0.75 33 95:549 12,573
13 429 38,119 1.54 1,63,53,051 13.99 33 95:549 2,17,668
48.440 Allottees from Serial no 2 to 13 Additional 1(one) share 1 30:48440 30
TOTAL 24,80,497 100.00 11,68,60,953 100.00 1,41,64,620

B. Allotment to Non-institutional Bidders (more than Rs, 0.20 million and up to Rs,1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders (more than Rs.0.20 million Up to *1.00 million), who have bid at the Offer Price of Rs, 452 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 44.98 times. The total number of Equity Shares allotted in this category is 20.23.518 Equity Shares to 4.379 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

Sr. No.

Category

No. of Applications Received

%of Total

Total No. of Equity Shares Applied

% to Total

No. of Equity Shares Allotted per Bidder

Ratio

Total No. of Equity Shares Allotted

1

462

1,73,648

93.81

8,02,25,376

88.14

462

4:169

18,98,358

2

495

3,227

1.74

15,97,365

1.76

463

76:3227

35,188

3

528

713

0.39

3,76,464

0.41

463

17:713

7,871

4

561

373

0.20

2,09,253

0.23

463

9:373

4,167

5

594

352

0.19

2,09,088

0.23

463

8:352

3,704

22

1,155

77

0.04

88,935

0.10

463

2:77

926

23

1,188

52

0.03

61,776

0.07

463

1:52

463

24

1,221

25

0.01

30,525

0.03

463

1:25

463

25

1,287

32

0.02

41,184

0.05

463

1:32

463

26

1,320

134

0.07

1,76,880

0.19

463

3:134

1,389

513

1,947

7

0.00

13,629

0.01

463

0:7

0

514

2,013

18

0.01

36,234

0.04

463

0:18

0

515

2,046

10

0.01

20,460

0.02

463

0:10

0

516

2,079

14

0.01

29,106

0.03

463

0:14

0

517

2,112

9

0.00

19,008

0.02

463

0:9

0

518

All applicants from Serial no 501 to 517 for 1 (one) lot of 463 shares

463

3:221

1,389

519

270 Allottees from Serial no 2 to 518 Additional 1(one) share

1

15:27

150

TOTAL

1,85,102

100.00

9,10,16,970

100.00

20,23,518

C. Allotment to Non-institutional Bidders (more than Rs. 1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders (more than Rs. 1.00 million), who have bid at the Offer Price of 1452 per Equity Share or above, was finalized in consultation with NSE This category has boon subscribed to the extent of 62.17 times The total number of Equity Shares allotted in this category is 40.47,034 Equity Shares to 8.759 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

Sr. No.

Category

No. of Applications Received

%of Total

Total No. of Equity Shares Applied

%to Total

No. of Equity Shares Allotted per Bidder

Ratio

Total No. of Equity Shares Allotted

1

2.244

1,01,944

95.68

22,87,62,336

90.92

462

31:377

38,72,022

2

2.277

853

0.80

19,42 281

0.77

462

70:853

32,340

3

2.310

869

0.82

20,07,390

0 80

462

71:869

32,802

4

2.343

181

0.17

4,24,083

0.17

462

15:181

6,930

5

2.376

173

0.16

4,11,048

0.16

462

14:173

6,468

1022

4,818

3

0.00

14,454

0.01

462

0:3

0

1023

4.884

1

0.00

4,884

0.00

462

0:1

0

1024

4.983

4

0.00

19,932

0.01

462

0:4

0

1025

5.049

1

0.00

5,049

0.00

462

0:1

0

1026

5,082

2

0.00

10,164

000

462

0:2

0

1238

1,76.979

1

0.00

1,76,979

0.07

462

0:1

0

1239

2,21,232

1

0.00

2,21,232

0 09

462

0:1

0

1240

6.63,696

1

0.00

6,63,696

026

462

0:1

0

1241

All applicants from Serial no 1.001 to 1,240 for 1 (one) lot of 462 shares

462

33:433

15.246

1242

8.759 Allottees from Serial no 1 to 1,241 Additional 1(one) Share

1

3:70

376

TOTAL

1.06,546

100.00

25,16,14.473

100.00

40,47,034

D. Allotment to Employee Reservation (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price (net of Employee Discount i.e. Rs. 30 per Equity Share) was finalized in consultation with the NSE. This category has been subscribed to the extent of 1.04 times on an overall basis. The total number of Equity Shares Allotted in this category is 2.96,208 Equity Shares to 1.378 successful Eligible Employees. The category-wise details of the Basis of Allotment are as under:

Eligible Employees below f 0.20 million

Sr. No.

Category

No. of Applications Received

%of Total

Total No. of Equity Shares Applied

%to Total

No. of Equity Shares Allotted per Bidder

Ratio

Total No. of Equity Shares Allottod

1

33

367

30.71

12,111

5 27

33

1:1

12,111

2

66

159

13.31

10,494

457

66

1:1

10494

3

99

95

795

9,405

4 09

99

1:1

9,405

4

132

70

5.86

9,240

4 02

132

1:1

9,240

5

165

49

4.10

8,085

352

165

1:1

8,085

6

198

24

2.01

4,752

2.07

198

1:1

4,752

7

231

45

3.77

10,395

4 52

231

1:1

10,395

B

264

20

1.67

5,280

2.30

264

1:1

5280

9

297

13

1.09

3,861

1.68

297

1:1

3,861

10

330

23

1.92

7,590

330

330

1:1

7,590

11

363

13

1.09

4,719

205

363

1:1

4,719

12

396

14

1.17

5,544

2 41

396

1:1

5,544

13

429

52

4.35

22,308

971

429

1:1

22,308

14

462

68

5.69

31,416

1367

462

1:1

31,416

15

495

31

2.59

14,322

623

462

1:1

14,322

16

528

10

0.84

4,620

2.01

462

1:1

4,620

17

561

2

0.17

924

0 40

462

1:1

924

18

594

5

0.42

2,310

1.01

462

1:1

2,310

19

627

2

0.17

924

0 40

462

1:1

924

20

660

6

0.50

2,772

1.21

462

1:1

2,772

21

693

3

0.25

1,386

060

462

1:1

1,386

22

726

5

0.42

2,310

1 01

462

1:1

2,310

23

759

5

0.42

2,310

1 01

462

1:1

2,310

24

825

5

0.42

2,310

1.01

462

1:1

2,310

25

924

3

0.25

1,386

060

462

1:1

1,386

26

957

7

0.59

3,234

1.41

462

1:1

3234

27

990

3

0.25

1,386

060

462

1:1

1,386

28

1.023

1

0.08

462

020

462

1:1

462

29

1.056

4

0.33

1,848

080

462

1:1

1,848

30

1.089

39

326

18,018

784

462

1:1

18,018

31

1.122

2

0.17

924

0 40

462

1:1

924

32

1,155

50

4.18

23,100

10 05

462

1:1

23,100

TOTAL

1.195

100.00

2,29,746

100.00

2,29,746

Eligible Employees between t 0.20 million to t 0 50 million

Sr. No.

Category

No. of Applications Received

%of Total

Total No. of Equity Shares Applied

%toTotal

No. of Equity Shares Allotted per Bidder

Ratio

Total No. of Equity Shares Allotted

1

495

31

16.94

1,023

1.29

28

1:1

868

2

528

10

5.46

660

083

55

1:1

550

3

561

2

1.09

198

0 25

83

1:1

166

4

594

5

2.73

660

083

111

1:1

555

5

627

2

1.09

330

0.42

139

1:1

278

6

660

6

3.28

1,188

1 50

166

1:1

996

7

693

3

1.64

693

088

194

1:1

582

8

726

5

2.73

1,320

1.67

222

1:1

1,110

9

759

5

2.73

1,485

1 88

249

1:1

1,245

10

825

5

2.73

1,815

2 29

305

1:1

1,525

11

924

3

1.64

1,386

1.75

388

1:1

1,164

12

957

7

3.83

3,465

4 38

415

1:1

2,905

13

990

3

1.64

1,584

200

443

1:1

1,329

14

1.023

1

0.55

561

071

471

1:1

471

IS

1,056

4

2.19

2,376

300

499

1:1

1,996

16

1.089

39

21.31

24,453

30 89

526

1:1

20,514

17

1.122

2

1.09

1,320

1 67

554

1:1

1,108

18

1,155

50

27.32

34,650

43 77

582

1:1

29,100

TOTAL

183

100.00

79,167

100.00

66,462

E. Allotment to QIBs

Allotment to QIBs who have Bid at the Offer Price of Rs. 452 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the octant of 192.25 times of QIB Portion As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e.. 4.04.704 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds wore Allotted the remaining available Equity Shares i o . 76,89.364 Equity Shares on a proportionate basis The total number of Equity Shares Allotted in the QIB Portion is 80,94.068 Equity Shares which were allotted to 195 successful QIB Investors. The category-wise details of the Basis of Allotment are as under

CATEGORY FIS/BANKS MF'S IC'S NBFC'S AIF - FPC VC'S TOTAL
ALLOTMENT 30,15.562 6,51,822 1,67,163 8,24,690 4,70,477 29,64,354 - 80,94,068

F. Allotment to Anchor Investors

The Company, in consultation with the BRIMs have allocated 1,21.41.102 Equity Shares to 28 Anchor Investors (through 36 Applications) at the Anchor Investor Offer Price of t 452 per Equity Share m accordance with the SEBI Regulations This represents 60% of the QIB Portion.

CATEGORY FIS/8ANKS MF'S IC'S NBFC'S AIF FPC OTHERS TOTAL
ALLOTMENT - 48,05,156 6,61,372 - 11,21,598 55,52,976 - 1,21,41,102

The IPO Committee of our Company on May 10. 2024 has taken on record the Bas<s of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders The Allotment Advice-cum- Intimations and/or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued on May 09, 2024 and payment to non-Syndicate brokers have been issued on May 10. 2024. In case the same is not received within ten days, investors may contact the Registrar to the Offer at die address given below The Equity Shares Allotted to the successful Allot tees have been uploaded on May 10, 2024 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on May 10, 2024. The Company has received listing and trading approval from BSE and NSE and the trading will commence on or about May 13.2024.

Note: All capitalized terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer. Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ sole Bidder. Bid cum Application Form number. Bidder DP ID. Client ID. PAN. Date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for. The name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below

wpe10E.jpg (2691 bytes)
Link Intime India Private Limited
C-101. 1st Floor. 247 Park. L B S. Marg. Vikhroli West. Mumbai - 400 083. Maharashtra. India
Tel: + 91 810 811 4949
E-mail: indegene.ipo@linkintime.co.in  
Website: www.linkintime.co.in
Investor grievance email: indegene.ipo@linkintime.co.in
Contact person: Shanti Gopalknsbnan
SEBI Registration Number: INR000004058

 

CORRIGENDUM NOTICE TO INVESTORS

This corrigendum is with reference to the Red Herring Prospectus dated April 26. 2024 (~RHP*) filed in relation to the Offer. In this regard, please note, in the chapter 'Material Contracts and Documents for Inspection' on page 394 of the RHP. the dale of the Industry Report issued by Everest which has been commissioned by the Company exclusively for the purposes of the Offer should be read as March 20. 2024 and not March 21.2024.

 

For INDEGENE LIMITED

On behalf of the Board of Directors

Sd'-

Place: Bengaluru

Srishti Ramesh Kaushik

Date: May 10, 2024

Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF INDEGENE LIMITED

INDEGENE LIMITED has filed a Prospectus dated May 9.2024 with RoC. The Prospectus is available on the website of SEBI at www.sebi.gov.in. the websites of the Stock Exchanges Le.. BSE and NSE at www.bseindia.com and www.nseindia.com. respectively, on the website of the Company at www.indegene.com and is available on the websites of the BRLMs. i.e., Kotak Mahindra Capital Company Limited. City group Global Markets India Private Limited. J.P. Morgan India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited at https://investmentbank.kotak.com. www.online.citibankco.in/rhtm/citigroupglobalscreen1.him, www.jpmipl.com and www.nomuraholdings.com/company/group/group/asia/india/index.html. respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled ‘Risk Factors" on page 25 of the Prospectus Investors should not rely on the DRHP filed with SEBI. but instead rely on the RHP for making any investment decision

The Equity Shares offered In the Offer have not been and will not be registered under the US Securities Act of 1933, as amended ('U.S. Securities Act'), or any other applicable law of the United States and. unless so registered may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U S. Securities Act and applicable state securities laws Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be 'qualified institutional buyers' (as defined in Rule 144 A under the U S. Securities Act) pursuant to Section 4(a) of the U S. Securities Act. and (ii) outside the United States in "offshore transactions' as defined in and in compliance with Regulation S under the U S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.