Indegene seeks shareholder approval for IPO proceeds reallocation

Indegene Limited has issued a postal ballot notice to reallocate a portion of its IPO proceeds due to foreign exchange fluctuations and changing business priorities.

The company proposes adjusting an additional Rs. 36.65 million towards repayment of an existing term loan due to forex rate fluctuations. Additionally, Rs. 349.86 million initially earmarked for computer equipment will be reclassified to fund services including cloud infrastructure and cybersecurity from providers like Amazon Web Services, CrowdStrike, Zscaler, and Microsoft.