CA Dawn Investments, a subsidiary of US-based Carlyle, is poised to sell 10.2 per cent stake in Indegene Ltd on Wednesday, a digital-first life sciences company, through block deals valued at approximately Rs 1,420 crore ($166 million). This transaction, as per sources, involves the sale of up to 2,44,75,403 shares at a floor price of Rs 580 each, marking a 6.41 per cent discount to the Tuesday’s closing price of Rs 619.70 on BSE. Kotak and IIFL are the brokers managing this deal.
Indegene shares are up 10.66 per cent in the past one month, but down 3.56 per cent in the past six months. The stock got listed on the stock exchanges last year in May, at a premium of 46 per cent over the issue price of Rs 452 apiece.
Indegene Ltd recently reported a net profit of Rs 1,176 crore for the March quarter, an increase from Rs 948 crore in the same quarter the previous year. The company also recorded revenue from operations of Rs 7,556 crore, up from Rs 6,730 crore year-on-year, with an Ebitda margin of 20.2 per cent compared to 21.9 per cent previously.
Manish Gupta, Chairman and CEO of Indegene, stated, “We sustained our profitable growth momentum in Q4FY25, clocking revenue growth of 4.9 per cent QoQ, buoyed by recent deal wins from the last two quarters.” Indegene aims to continue this growth trajectory into FY26, strengthened by recent successes.
Founded in 1998, Indegene offers solutions for biopharmaceutical, biotech, and medical devices companies, facilitating product development, market launch, and sales lifecycle management. The company has made significant strides in expanding its client base and enhancing its technological capabilities, marked by the launch of its Cortex GenAI platform tailored for the life sciences industry.
The company’s shares closed at Rs 617.20 on the BSE, reflecting a rise of Rs 12.25 or 2.02 per cent. Indegene remains focused on growth from both existing and new clients, aiming for strong execution and margin improvement in FY26.
“We remain focused on expanding our client base even as we continue to drive growth from existing and newly added clients,” Gupta emphasised. The company has also declared a maiden dividend at 100% for FY25, underscoring its commitment to shareholder value.
The market will watch closely as the block deal unfolds, potentially affecting share price dynamics.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.