Sagility India Ltd to Launch ₹2,107 Crore IPO on November 5 with Price Band Set at ₹28-30 Per Share

Sagility India Ltd, a technology-enabled healthcare services provider, is set to launch its initial public offering (IPO) from November 5 to November 7, 2024. The price band for the IPO is fixed at ₹28-30 per share, with a total issue size of ₹2,107 crore. Structured entirely as an offer for sale (OFS) of 70.22 crore shares by the promoter, Sagility B.V., the IPO will not generate capital for Sagility India directly, as the proceeds will go to the selling shareholder. Listing the equity shares on the stock exchanges aims to increase visibility, strengthen the brand image, offer liquidity to shareholders, and establish a public market for the shares.

Here are the key IPO details:

• Allocation: 75% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors.
• Lot Size: Minimum bid for 500 shares, with bids in multiples of 500 shares thereafter.
• Employee Reservation: A portion of the shares is reserved for eligible employees.

Sagility provides technology-driven services for both U.S. health insurance payers and healthcare providers, including hospitals, physicians, and diagnostic companies. In March 2024, Sagility acquired BirchAI, a healthcare technology firm specializing in generative AI. This acquisition is intended to enhance customer engagement and operational efficiency through AI-driven customer support solutions that utilize speech-to-text and large language models integrated into Sagility’s services.

The company reported a revenue increase of 12.7% in fiscal year 2024, reaching ₹4,753.56 crore, up from ₹4,218.41 crore in the previous year. Profit after tax surged by 50% to ₹228.27 crore from ₹143.57 crore. For the quarter ending June 30, 2024, revenue stood at ₹1,223.33 crore, with a profit after tax of ₹22.29 crore.

The IPO’s lead managers are ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India. Sagility’s equity shares will be listed on the BSE and NSE.

Disclaimer: This information is for general purposes only and does not constitute financial advice or a recommendation to invest. Prospective investors should review the official prospectus and consult with a financial advisor to understand the risks involved before investing in Sagility India Ltd’s IPO. Past performance is not indicative of future results.