Indegene IPO - Evaluating Strengths and Checking Allotment Status

Key Highlights:

• Indegene Ltd has domain expertise in its field with strong digital capabilities

• It enjoys a long-standing relationship with its clients

• The company has strong financials and a global delivery model

The issue size of Indegene Ltd, known to offer high-end digital services to the life sciences industry, is pegged at Rs 1841.76 crores at a price band of Rs 430 - Rs 452. The competitive strengths of Indegene Ltd have further generated a buzz surrounding its IPO.

Competitive Strengths of Indegene Ltd

Here are the company's strengths:

• Domain expert
  Indegene Ltd has a deep understanding of the healthcare domain. Due to its domain expertise, it can efficiently modernise and digitise key functions of the life sciences industry. The firm's expertise helps it optimise sales and marketing along with the time taken to make regulatory submissions. Over the years, the company has won several awards for the rich expertise it brings to the table.

• Robust digital capabilities
  Indegene Ltd boasts of robust digital capabilities and has developed several proprietary tools and platforms automating AI-based efficiencies. These tools have accelerated transformation across the company's solutions, driving efficiency and effectiveness. The tools have helped the firm drive outcomes across content management, regulatory intelligence, customer data management, and clinical trials.

• Long-standing client relationships
  Indegene Ltd enjoys a long-standing relationship with prominent biopharma companies, including the 20 largest firms in the world by revenue for FY 23. Apart from serving high-end clients, it also caters to the needs of mid-sized pharma firms. Its retention rates stood at an impressive 122.83%, 159.89%, and 129.90% for FY 23, 22, and 21, respectively.

• Global delivery model
  The company has a global delivery model from 6 operation hubs and 17 offices across Asia, Europe, and North America. Thanks to its streamlined global processes, the company can offer end-to-end scalable solutions to multiple regions and different clients. Also, the company's local presence in several countries has helped it forge better client engagement.

• Strong financials
  Indegene Ltd boasts of strong financials. While net revenues have grown to Rs 2,306.13 crores in FY 23 from Rs 1,664.61 crores in FY 22, its return on equity has grown to 25.02% in FY 23 from 21.57% in FY 22. The firm's profit after tax has also grown to Rs 266.10 crores in FY 23 from Rs 164.76 crores in FY 22.

Along with these, the company boasts an experienced management team, the backing of marquee investors, and a track record of nurturing value via acquisitions.

Checking Allotment Status

These competitive strengths present a strong case for investors to subscribe to its IPO. If you subscribe to the company's IPO and want to know the allotment status of its shares, here's how you can do it:

• Visit this link of the registrar.
• Select Indegene IPO from the dropdown. You can find the name once the allocation process is complete.
• Choose among these available options to check the status - DP/Client ID or PAN or Application Number or Account Number.
• Provide the necessary details as per the chosenoption.
• Click on the 'Submit' button to complete the process.

If you have received the allocation, you will get the shares directly in your Demat account.

In Conclusion

Before subscribing to a company’s IPO, it’s crucial for you to be well aware of the company’s strengths and risks. Read the draft red herring prospectus for a complete overview and ensure you have holistic knowledge about your financial goals and risk appetite before subscribing.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI prescribed Combined Risk Disclosure Document prior to investing. Brokerage will not exceed SEBI prescribed limit.

Source: RHP