Sagility India, a prominent player in the healthcare sector, is preparing for its Initial Public Offering (IPO) scheduled to open on November 5, 2024, and will close on November 7, 2024. This IPO aims to raise approximately ₹2,106.60 crore at the upper price band of ₹30 per share, which is 3 times the face value of ₹10 per share.
Offer Structure
This IPO is entirely an Offer for Sale (OFS), meaning that the company’s promoter, Sagility B.V., will sell a total of 70.22 crore equity shares. This structure allows existing shareholders to sell their shares to the public, providing them with an opportunity to cash in on their investments.
Investors interested in participating can apply through their demat accounts. The minimum bid lot for the IPO is set at 500 equity shares, and investors can bid in multiples of this lot. For eligible employees participating in the employee reservation portion, a discount of ₹2 per share will be offered.
Subscription Details
The IPO will kick off with an anchor book subscription on November 4, 2024, a day before the main subscription opens. The final basis of allotment for shares is expected to be determined on November 8, with shares likely credited to successful bidders on the same day. The listing of shares on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) is anticipated on November 12, 2024.
In terms of allocation, the IPO reserves 75% of the net offer for Qualified Institutional Buyers (QIBs), which includes large institutional investors. Meanwhile, 15% is reserved for Non-Institutional Investors (NIIs), who are typically high-net-worth individuals. The remaining 10% is allocated to retail investors, making it accessible for everyday investors looking to buy shares in the company. Additionally, around 1.9 million shares are set aside for employees of Sagility India.
Sagility India specializes in providing technology-driven business solutions and services primarily to clients in the U.S. healthcare industry. It is known as a pure-play healthcare service provider with a clientele that includes payers (health insurance companies) and providers (hospitals and medical professionals). The company’s focus on delivering high-quality healthcare solutions has positioned it as a key player in a rapidly growing market.
As Sagility India gears up for its IPO, it presents a significant opportunity for investors looking to enter the healthcare sector. With a strong track record, a growing market, and a well-structured IPO, the upcoming launch could attract considerable attention. Interested investors should consider applying through their demat accounts when the subscription opens on November 5, 2024. Stay tuned for updates on this promising IPO!
