The initial public offer i.e. IPO of Indengine Limited has opened for public subscription from today, Monday (6 May 2024). Retail investors will be able to bid for this IPO from May 6 to May 8. On May 13, the company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Indengine Limited wants to raise ₹1,841.76 crore through this IPO. For this, the company will issue 16,814,159 fresh shares worth ₹760 crore. Whereas, the existing investors of the company will sell 23,932,732 shares worth ₹1,081.76 crore through Offer for Sale (OFS). The company provides digital services to the life sciences industry. Retail investors can bid for maximum 429 shares. Indengine Limited has fixed the price band of this issue at ₹ 430-₹ 452. Retail investors can bid for a minimum of one lot i.e. 33 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 452, then you will have to invest a minimum of ₹ 14,916. Whereas, retail investors can apply for maximum 13 lots i.e. 429 shares. For this, investors will have to invest ₹ 193,908 as per the upper price band. Indengine Limited’s premium in the gray market is 58.19%. Before the IPO opens, the company’s shares have reached a premium of 58.19% i.e. ₹ 263 per share in the gray market. In such a situation, according to the upper price band of ₹ 452, it can be listed at ₹ 715. However, this is only an estimate, the listing price of a share is quite different from the gray market price.
