INDEGENE LIMITED FILES DRHP WITH SEBI TO FLOAT IPO
MUMBAI, 16 DECEMBER, 2022 (TGN): Indegene Limited, a digital-first commercialization company focused exclusively on the global life sciences industry has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company’s initial public offering comprises a fresh issue of up to Rs. 9,500 million and an offer for sale of up to 36.3 million equity shares by selling shareholders. The offer for sale comprises up to 2.7 million equity shares by individual selling shareholders (Manish Gupta, Dr. Rajesh Bhaskaran Nair, and Anita Nair), and up to 33.6 million equity shares by existing investors including Carlyle, Brighton Park Capital and the Nadathur Family Office. Indegene had raised US$200 million from The Carlyle Group and Brighton Park Capital in February 2021.
The funds raised through the IPO are proposed to be utilized for debt repayment/prepayment, capital expenditure, payment of deferred consideration for one of its past acquisitions, funding inorganic growth and general corporate purposes.
Life sciences companies are increasingly outsourcing commercialization operations because of deficit of specialized talent and in-house digital capabilities, rising sales and marketing (S&M) and research and development (R&D) expenses, need to optimize regulatory and medical affairs processes, and increasing complexity in clinical trials. The industry lags other industries in digital adoption, offering a digital-first company such as Indegene significant opportunity for growth.
Indegene was founded in 1998 by five, first-generation entrepreneurs – Manish Gupta (IIT-BHU, IIM Ahmedabad), Dr. Sanjay Parikh (IIT Mumbai, John Hopkins), Dr. Rajesh Nair (IIM Ahmedabad), Gaurav Kapoor (ENPC Paris) and Anand Kiran (Birla Institute of Technology and BK School of Business Management, Ahmedabad). The company offers solutions that enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle. The company’s extensive portfolio of solutions, expertise in the healthcare domain as well as the use of new age emerging technologies has helped efficiently modernize and digitize the key functions involved in the life sciences commercialization process.ENDS (TGN)