Sagility India IPO closes today: GMP shows marginal uptick; should you bid?

Through the IPO, which is entirely an offer for sale (OFS), the promoter, Sagility BV, is offloading 702,199,262 shares with a face value of Rs 10 each

The initial public offering (IPO) of healthcare solutions provider Sagility India, which opened for subscription on November 5, 2024, will conclude today. Rs 2,106.60 crore IPO is entirely an offer-for-sale (OFS), with the promoter, Sagility BV, offloading 702,199,262 shares with a face value of Rs 10 each. So far, the issue has garnered a muted response, with a total subscription rate of 0.60 times, according to the latest data from NSE.

 

The retail individual investors (RIIs) segment has led demand, with a subscription rate of 2.56 times, while non-institutional investors (NIIs) and qualified institutional buyers (QIBs) have shown lower interest, subscribing at 0.33 times and 0.07 times, respectively. Meanwhile, the employee quota was oversubscribed at 2.69 times.

 

 

The Sagility India IPO is priced between Rs 28-30 per share, with a lot size of 500 shares. At this price band, retail investors need a minimum of Rs 15,000 to bid for a single lot.

 

In the grey market, Sagility India’s unlisted shares were trading at a premium of Rs 0.50 over the IPO's upper price band, reflecting a grey market premium (GMP) of approximately 1.67 per cent as of Thursday, according to sources monitoring grey market trends.

 

With the subscription window closing today, the basis of allotment is expected to be finalised by Friday, November 8, 2024. Upon successful allotment, shares are likely to be credited to investors' demat accounts by Monday, November 11, 2024. 

Sagility India shares are set to make their market debut on Tuesday, November 12, 2024, by listing on both BSE and NSE.

 

Link Intime India is the registrar for the Sagility India IPO. ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India are the book-running lead managers for the public issue. 

 

Should you subscribe to the Sagility India IPO?

Brokerage firms, including Master Capital Services and Bajaj Broking, have shared their views on the Sagility India IPO and recommend subscribing to the public issue for a long-term perspective. READ MORE

 

About Sagility India

Sagility India, previously known as Berkmeer India, specialises in technology-enabled solutions for the US healthcare industry. With a focus on revenue cycle management, Sagility streamlines financial clearance, medical coding, billing, and accounts receivable follow-up for healthcare providers. Notably, Sagility has built long-standing relationships with top US clients, with an average service tenure of 17 years among its five largest customer groups. The company also partners with five of the ten largest US payers, solidifying its position as a trusted industry expert.