Sagility India IPO opens on Nov 5: Check GMP, dates, & other key details

Sagility India IPO: The initial public offering (IPO) of healthcare-focused solutions provider Sagility India is set to open for public subscription on Tuesday, November 5, 2024. At the upper end of the price band, the company aims to raise Rs 2,106.60 crore in a book-built issue. Bidding for anchor investors is expected to take place on Monday, November 4, 2024.

 

Sagility India IPO issue size

The public offering is entirely an offer for sale. Through the Sagility India IPO, the promoter, Sagility B.V., is offloading 702,199,262 shares with a face value of Rs 10 apiece.

 

Sagility India IPO will be available at a price band of Rs 28-30 per share with a lot size of 500 shares. Investors can bid for a minimum of 500 shares and in multiples thereof. A retail investor would need a minimum of Rs 15,000 to bid for one lot of 500 shares. 

Sagility India IPO grey market premium (GMP)

 

Meanwhile, unlisted shares of Sagility India were trading flat in the grey market on Wednesday, revealed sources tracking grey market activities.

 

Sagility India IPO allotment, listing date

The three-day subscription window for the Sagility India IPO will conclude on Thursday, November 7, 2024. Following the closure of the IPO subscription, the basis of allotment of Sagility India IPO shares is likely to be finalised on Friday, November 8, 2024. The company's shares are expected to be credited into demat accounts on Monday, November 11, 2024, with a listing on BSE and NSE set for Tuesday, November 12, 2024.

 

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

  Sagility India IPO objective

In the Red Herring Prospectus, the company stated that the objectives of the offer are to (i) achieve the benefits of listing the equity shares on the stock exchanges; and (ii) carry out the offer for sale of up to 702,199,262 equity shares with a face value of Rs 10 each by the promoter selling shareholder.

 

About Sagility India  

Sagility India Private Limited was incorporated in 2022, initially as Berkmeer India. The company provides healthcare solutions and services to U.S.-based payers (health insurers) and providers (hospitals, physicians, and medical technology companies). Sagility supports the core business of both payers and providers, offering services in claims administration, clinical management, and revenue cycle management. The company's services include centralised claims administration, payment integrity, and clinical services. Additionally, Sagility offers services to Pharmacy Benefit Managers (PBMs), managing prescription drug coverage for insured members.

 

Sagility India's total comprehensive income attributable to the owners of the company stood at Rs 240.46 crore in FY24, compared to Rs 376.44 crore in FY23 and Rs 35.49 crore in FY22.