Sagility India IPO Day 3: Retail Portion Subscribed 3.73 times

Sagility India’s Initial Public Offer (IPO) saw its issue being subscribed 2.82 times on the final day of the subscription at the time of writing. The issue witnessed significant interest from the retail portion. Demand from institutional and non-institutional investors picked up on the final day with both portions sailing through with ease.

Sagility India’s IPO is an offer-for-sale (OFS) for 70.22 crore shares amounting to ₹2,106.60 crore. The issue opened for subscription on November 5, 2024, and the subscription period will conclude on November 7, 2024. Following the closure of the subscription period, shares are expected to be allotted to investors on November 8, 2024. The tentative listing date for Sagility India’s IPO is November 12, 2024.

The OFS will see Sagility BV, the promoter of the company, offload its stake in it. Although the company will not receive any funds from the share sale, it expects to benefit from getting its shares listed on the stock exchanges.

Sagility India IPO: Day 3 Subscription

Sagility India’s IPO saw a tepid start, with the issue being subscribed only 22% on the first day. However, the issue garnered interest on the second day, with the subscription rate climbing up to 52%.

The company’s issue saw significant interest from retail investors as the retail portion of the issue was subscribed 3.73 times on the third day. The company has offered 7 crore shares for the retail segment and received bids for 26.11 crore shares at the time of writing.

As of 3:30 p.m., on November 7, 2024, the portion set aside for qualified institutional buyers (QIB) was subscribed 3.12 times. Of the 21 crore shares offered to the segment, the company received bids for 65.47 crore shares. A majority of the bids, at 55.43 crore shares, were made by foreign institutional investors (FIIs).

For non-institutional investors (NIIs), the company has set aside 10.54 crore shares. On the final day, the portion was subscribed 1.61 times, with the company receiving bids for 16.86 crore shares. The company has reserved 19 lakh shares for employees of Sagility India, and the portion was subscribed 3.47 times.

As of writing, Sagility India’s IPO has been subscribed 2.82 times.

Sagility IPO Price Band and Lot Size

Sagility India has set a price band of ₹28-₹30 per share for the issue. The minimum lot size for an application is 500 shares. To apply for Sagility India’s IPO, an investor will have to make a minimum investment of ₹15,000. The minimum lot sizes for small non-institutional investors and big non-institutional investors are set at 14 lots and 67 lots, respectively.

About Sagility India

Previously known as Berkmeer India, Sagility India is a technology-oriented solution and services provider to the healthcare industry. The company offers services to payers and providers in the United States and several other countries. The company offers solutions to optimise patient-member management, payment integrity, claims administration, and other services.

Sagility India reported a 10.66% year-on-year (YoY) rise in total income to ₹1,247.75 crore in Q1FY25. The company’s net profit for the quarter was down 47.5% YoY to ₹22.29 crore. In FY24, the company's net profit jumped 59% to ₹228.26 crore while the total income grew by 12.87% YoY to ₹4,781 crore.