Shares of healthcare technology firm Indegene Ltd slipped over four percent in early trade on Wednesday, June 4, as the 10.56 percent equity in the firm was traded through the block deal route.
Around 2.53 crore shares, totalling 10.56 percent equity, valued at Rs 1,504 crore was exchanged. This was sold at a price of Rs 594 per share. This represents a discount of 4 percent to the firm's closing price of Rs 619.7 in the previous session
Private equity firm CA Dawn Investments, a Carlyle Group affiliate, was reportedly looking to sell its entire stake of 10.2 percent in Indegene, which was valued at approximately Rs 1,420 crore. According to the March 2025 shareholding details, CA Dawn holds a 10.2 percent stake in Indegene.
According to CNBC-TV18 reports, the transaction will involve the sale of around 2.4 crore shares, at a price of Rs 580 per share. IIFL Capital, along with Kotak Securities, are the brokerages involved in the deal, according to sources.
The firm's equity structure is dominated by public shareholders, who collectively hold over 89.8 percent of the company. Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) own 5.2 percent and 4 percent stakes, respectively.
At 9.23 am, shares of Indegene were quoting Rs 593, down by 4.3 percent on the NSE.
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On December 3, 2024, Indegene shares saw a 4.7 percent equity stake sale in block deals aggregating as much as Rs 707 crore with CA Dawn offloading a part of its shareholding. The deal involved the sale of 1.13 crore shares at an average price of Rs 623 per share.
CA Dawn, a significant investor in Indegene, had already trimmed its stake during the company’s Rs 1,840 crore initial public offering in May 2024. At the time of the IPO, CA Dawn (Carlyle-affiliated) owned a 20.42 percent stake in the company, which decreased after it sold shares worth Rs 1,082 crore in the offer for sale.
Indegne, known for providing digital-led commercialisation services to the life sciences sector, had a successful IPO earlier in 2024, which was oversubscribed significantly.
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