Indegene Limited has informed the Exchange regarding Notice of Postal Ballot
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Indegene Limited has issued a postal ballot notice seeking shareholder approval to vary the use of IPO proceeds raised in May 2024. The original IPO (fresh issue of Rs. 7,600 million; net proceeds Rs. 7,243.71 million) has had 87.03% (Rs. 6,304.22 million) utilized to date, with Rs. 939.49 million still pending. Two reallocations are proposed: (1) an additional Rs. 36.65 million already spent on ILSL Holdings Inc's term loan repayment due to forex fluctuations, to be adjusted from the capital expenditure head; and (2) Rs. 349.86 million reclassified from purchase of computer equipment to cloud infrastructure, cybersecurity, and support services from AWS, CrowdStrike, Zscaler, and Microsoft (SkySecure), to be used by FY 2026-27. The resolution requires a special resolution. E-voting runs from July 14, 2025 to August 12, 2025, with results to be announced by August 14, 2025.
This is a procedural reallocation within the original IPO's stated objects and does not change the overall use of funds or business direction. Shareholders should review the rationale (forex-driven loan repayment and a shift from hardware to cloud/cybersecurity spending) and cast votes through NSDL's e-voting platform. The variation is unlikely to materially affect the stock price but indicates management's evolving infrastructure priorities.