Sagility India IPO to Open for Subscription Next Week

Sagility India’s initial public offering (IPO) will open for subscription from November 5 to November 7, with shares priced between Rs. 28 to Rs. 30 each. The company aims to raise Rs. 2,106.60 crore at the top price band of Rs.30. The share’s price band is set at 2.80 times (floor price) and 3 times (cap price) its RS. 10 face value.

Offer for Sale (OFS) Structure

This IPO is structured as an Offer for Sale (OFS) with 70.22 crore shares being offered by Sagility B.V., the company’s promoter, which means no new shares will be issued, and the proceeds will go to the selling promoter.

Key Dates for Investors

• Anchor Allotment: Opens on November 4, one day before the main subscription.
• Basis of Allotment: Expected on November 8, with shares likely to be credited on the same day.
• Listing Date: Shares are anticipated to list on both BSE and NSE on November 12.

Investment Requirements

Investors can bid for a minimum lot of 500 shares and in multiples thereafter. A Rs. 2 per share discount is offered for employees participating in the reserved employee portion, with 19 lakh shares allocated for eligible employees.

Investor Allocation

The allocation for the IPO is divided as follows:

• 75% reserved for Qualified Institutional Buyers (QIBs)
• 15% reserved for Non-Institutional Investors (NIIs)
• 10% for Retail Investors

Sagility India’s Business

Sagility India provides technology-driven business solutions primarily to clients in the U.S. healthcare sector, focusing on services for health insurance companies (Payers) and healthcare providers, including hospitals and diagnostic companies.

Grey Market and Lead Managers

Currently, the company is not seeing grey market activity for the IPO. The lead managers for this issue are ICICI Securities, IIFL Securities, Jefferies India, and J.P. Morgan India, with Link Intime India as the registrar.

This IPO offers investors a chance to participate in a healthcare-focused technology solutions company with significant U.S. market exposure.

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Summary

Sagility India's initial public offering (IPO) will open for subscription from November 5 to November 7, with shares priced between Rs.28 and Rs. 30 each. The company aims to raise around Rs.2,106.60 crore. This IPO is an Offer for Sale, meaning the promoter, Sagility B.V., is selling 70.22 crore shares without issuing new ones.

Investors can bid for at least 500 shares, and eligible employees will get a Rs. 2 discount per share. The allocation is primarily for institutional investors, with 75% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. The shares are expected to be listed on the BSE and NSE on November 12. Sagility India provides technology services to the U.S. healthcare industry, focusing on insurance companies and healthcare providers.