Indegene Reports Growth with 63 Active Clients and Successful IPO in FY24
Indegene, a leading digital first commercialisation partner to the global life sciences industry, has reported a positive performance for the fiscal year ending March 31, 2024. The company announced that it had 63 active clients, one more than the previous fiscal year, with Chairman and CEO Manish Gupta expressing satisfaction with the results.
Gupta highlighted that Indegene works with all of the top 20 global pharmaceutical companies and that 69% of their revenues come from these key players in the industry. With the global life sciences industry exceeding $1.8 trillion, Gupta emphasized the significant opportunity for growth that lies ahead for the company.
As of March 31, 2024, Indegene had a workforce of 5,081 employees, with a voluntary attrition rate of 15.7%. The company recently completed a successful IPO, raising ₹1,842 crore, which was oversubscribed 70.3 times by investors. The funds raised will be used to repay debts of a subsidiary, fund capital expenditures, and support inorganic growth opportunities.
Established in 1998, Indegene provides a range of services to the life sciences industry, including drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. The company’s strong performance and strategic initiatives position it well for continued success in the dynamic and growing life sciences sector.
