Chairman and CEO Manish Gupta of Indegene says that a portion of the IPO proceeds will be used to repay debt, which includes interest costs associated with a previous loan. This, according to him, will boost the company s profitability.
Snapping its two-day winning run, the 30-share BSE Sensex declined 188.50 points or 0.25 per cent to settle at 74,482.78. During the day, it had jumped 440.11 points or 0.58 per cent to 75,111.39.