Sidley Advises on the US$220 Million Initial Public Offering of Indegene

Sidley acted as international counsel to the underwriters Kotak Mahindra, Citigroup, J.P. Morgan, and Nomura Financial, in connection with the US$220 million initial public offering of Indegene.

Indegene is a “digital-first” commercialization company focused exclusively on the global life sciences industry, and provides biopharmaceutical, emerging biotech, and medical devices companies a platform to develop products, launch them in the market, and drive sales.

The shares had a spectacular debut, listing at a premium of 45% over the issue price and receiving an overwhelming 70 times subscription. This is fifth equity share listing in India in 2024 on which Sidley has advised.

Manoj Bhargava led the Sidley team, which included partner Alexius Chong, managing associates Klara Thamrin and Sarangan Rajesh Kumar, and associate Caulyn Bong (all Singapore); partners Robert M. Kreitman, Nicholas R. Brown, Carla G. Teodoro, and Daniel A. O’Shea, and managing associate Alvin Wang (all New York); and partner Andrew Shoyer (Washington, D.C.).

Sidley is one of the most experienced international law firms executing capital markets transactions in India and other Asian markets. The firm is ranked a “Top Foreign Law Firm” for work in India by the India Business Law Journal and was named “Securities Firm of the Year” at Law.com International’s Asia Legal Awards 2024.