Sagility India IPO ends with 3.20x subscription

The initial public offer (IPO) of Sagility India received 1,24,00,17,000 bids for shares as against 38,70,64,594 shares on offer. The issue was subscribed 3.20 times.

The Retail Individual Investors (RIIs) category was subscribed 4.16 times. The Qualified Institutional Buyers (QIBs) category was subscribed 3.52 times. The Non-Institutional Investors (NIIs) category was subscribed 1.93 times.

The issue opened for bidding on 5 November 2024 and it closed on 7 November 2024. The price band of the IPO was fixed between Rs 28 to 30 per share.

The IPO comprises only a offer for sale up to 70,21,99,262 shares by the selling shareholder, Sagility BV (Holding company).

The company will not receive any proceeds from the offer and all the proceeds will be received by the selling shareholders.

Ahead of the IPO, Sagility India on Monday, 4 November 2024, raised Rs 945.40 crore from anchor investors. The board allotted 31.51 crore shares at Rs 30 each to 52 anchor investors.

Sagility India provides technology-enabled business solutions and services to clients in the US healthcare industry. It is a pure-play healthcare focused services provider, and its clients include payers (US. health insurance companies, which finance and reimburse the cost of health services) and providers (primarily hospitals, physicians, and diagnostic and medical devices companies).

Sagility supports the core business of both payers and providers. Services to payers span their entire operational spectrum, including centralized claims administration and clinical services functions. These include claims administration, payment integrity, clinical management and other services.

The firm reported a consolidated net profit of Rs 22.29 crore and sales of Rs 1,223.33 crore for the three months ended on 30 June 2024.