Indegene has released a Monitoring Agency Report indicating the utilization of funds raised through its Initial Public Offering (IPO). The report, covering the quarter ended December 31, 2025, details the allocation of proceeds towards funding capital expenditure, inorganic growth, and other corporate purposes. The report suggests that the IPO funds are being deployed in line with the company’s stated objectives, but also notes some deviations that have been approved by shareholders via a special resolution.
Utilization of IPO Proceeds
Indegene’s Monitoring Agency Report for the quarter ended December 31, 2025, provides an update on the deployment of funds raised through its IPO. According to the report, the IPO proceeds are being utilized in accordance with the objectives outlined in the offer document, with some modifications approved by shareholders.
Key Highlights from the Report
- Funding Capital Expenditure: Funds were allocated towards capital expenditure requirements of the company and its subsidiaries. Specifically, ₹44.30 crore has been directed towards capital expenditure.
- Inorganic Growth: A portion of the proceeds has been deployed towards inorganic growth initiatives, including the acquisition of Warn and Co. Ltd. for GBP 2.7 million.
- Technology Infrastructure: ₹34.99 crore was allocated for Technology, Cybersecurity and Cloud infrastructure related costs.
- General Corporate Purposes: ₹229.31 crore has been utilized for general corporate purposes.
Deviation and Special Resolution
The report indicates that a deviation of ₹38.65 crore was carved out from the Object – ‘Funding the capital expenditure requirements of the company and one of their material subsidiaries, Indegene Inc.’. Out of which, ₹3.67 crore was adjusted towards the Object – ‘Repayment/prepayment of indebtedness of one of their material subsidiaries, ILSL Holdings, Inc.’ and balance ₹34.99 crore was allocated towards new Object – ‘Technology, Cybersecurity and Cloud infrastructure related cost’. This modification was approved by shareholders through a special resolution on August 12, 2025.
Issue Expenses
Issue related expenses pertaining to Selling Shareholders have increased by Rs. 0.50 crore till June 30, 2025, which has resulted in the excess reimbursement taken by the company to that extent from fresh issue proceeds.
Source: BSE
