Asirvad Micro Finance IPO received Sebi nod

May 1, 2024 admin Leave a reply Post Comment

Asirvad Micro Finance IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Asirvad Micro Finance IPO Promoters
The company is a professionally managed company and does not have an identifiable promoter.

Asirvad Micro Finance IPO Company Details to watch

Indegene is a “digital-first” commercialization company focused exclusively on the global life sciences industry. Its solutions enable biopharmaceutical, emerging biotech and medical devices companies develop products, launch them in the market, and drive sales through their life cycle in a more effective, efficient and modern manner. It achieves this by combining over two decades of healthcare domain expertise and fit-for-purpose technology. Its portfolio of solutions cover all aspects of commercial, medical, regulatory and R&D operations of life sciences companies.
It has established client relationships with 19 of the 20 largest biopharmaceutical companies in the world by revenue for the Financial Year 2021, having earned more than 70.00% of its total revenue from continuing operations for each of the Financial Years 2022, 2021 and 2020 from these 19 customers. As of June 30, 2022, it had a total of 52 active clients (i.e., clients from whom it earned US$0.25 million or more in revenues during the 12 months preceding the relevant date). It had 21 clients from whom it earned between US$1 million and US$10 million in revenues, three clients from whom it earned between US$10 million and US$25 million in revenues, and four clients from whom it earned more than US$25 million in revenues, during the 12 months ended June 30, 2022.

Given the breadth of its solutions, it believes that it is well positioned to benefit from the expected growth in life sciences operations expenditure, which was estimated at Rs.11.3 trillion (US$146 billion) in 2021 and is expected to grow at a CAGR of 6.3% to reach Rs.14.4 trillion (US$187 billion) in 2025. Sales and marketing was the largest segment of life sciences operations expenditure, contributing Rs.4.1 trillion (US$53 billion) or 36% of overall life sciences operations expenditure, but with a low outsourcing penetration rate of 7-12%. However, outsourcing expenditure in this segment is projected to grow at a CAGR of 11.3% between 2021 and 2025, representing room for growth. It has already penetrated this segment through its Enterprise Commercial Solutions and derived Rs.10,161.57 million or 61.04% of the revenue from operations for the Financial Year 2022 from this segment.
As of June 30, 2022, it had 52 active clients. It delivers solutions to them from its operation hubs located across North America, Europe and Asia. it has internally developed artificial intelligence (“AI”) and machine learning (“ML”) based proprietary platforms, which allows it to offer its solutions across the globe at scale. Its delivery model allows it to operate where its clients are located. As of June 30, 2022, it had 5,245 full-time employees across nine countries, of which 4,712 employees were delivery employees (i.e., employees who do not belong to corporate and support functions). As of June 30, 2022, 21.88% of its delivery employees had healthcare-related educational backgrounds.

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Objects of the IPO
This is fresh issue of capital & offer for sale.
The Company proposes to utilise the Net Proceeds towards funding of the following objects:
1. Repayment/prepayment of indebtedness of one of its Subsidiaries, ILSL Holdings, Inc.;
2. Funding the capital expenditure requirements of its Company and our Material Subsidiary, Indegene, Inc.;
3. Payment of consideration towards acquisition of additional shares in DT Associates Limited by ILSL
Holdings, Inc., a Subsidiary; and
4. General corporate purposes and inorganic growth

Asirvad Micro Finance IPO GMP Details to watch Guidance & Subscription

INDEGENE IPO GMP Details to watch Guidance & Subscription

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