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The net proceeds from the IPO, which will not include the funds raised from the OFS portion, will be used to fund the capex requirements of the company and its material subsidy—Indegene, Inc.
The company will also divert a portion of the net proceeds to repay the debt obligations of subsidiary ILSL Holdings and pay for the acquisition of additional shares in DT Associates by the same subsidiary.
Indegene is a “digital-first” commercialisation company focused exclusively on the global life sciences industry. It offers solutions for biopharmaceutical, emerging biotech, and medical device companies to develop and launch products and drive sales through their life cycles.
As on June 30, 2022, the company had 52 active clients and has been delivering solutions to them from operation hubs located across North America, Europe, and Asia, according to its DRHP.
By June this year, Indegene had 5,245 full-time employees across nine countries, of whom 4,712 were delivery employees—those who do not belong to corporate or support functions.
Indegene reported Rs 520.98 crore as revenue from operations for the three months ended June 30, 2022. For fiscal 2022, the company reported revenue of Rs 1,664.61 crore, compared with Rs 966.27 crore in 2021 and Rs 642.93 crore in 2020.
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