Sagility India IPO set to launch on November 5: key details and financial insights
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Sagility India Limited, a healthcare services provider, is gearing up for its initial public offering (IPO) on November 5, 2024.
The IPO, structured as a book-building issue, is expected to raise approximately Rs 2,106.6 crore, primarily through an offer-for-sale (OFS) of 70.22 crore shares.
The price band for Sagility India’s IPO has been set between Rs 28 and Rs 30 per share. Retail investors can place a minimum bid for one lot, consisting of 500 shares, amounting to a minimum investment of Rs 15,000. Small high-net-worth individuals (sHNIs) can apply for at least 7,000 shares, requiring an investment of Rs 2,10,000, while big high-net-worth individuals (bHNIs) have a minimum bid size of 33,500 shares, totaling an investment of Rs 10,05,000.
In addition, up to 19 lakh shares have been reserved for company employees, who will receive a Rs 2 discount per share off the issue price. ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India are managing the IPO, with Link Intime India serving as the registrar.
The subscription window for the Sagility India IPO will be open from November 5 to November 7. The allotment of shares is expected to be finalized on November 8, with refunds processed the same day. For successful applicants, shares will be credited to their demat accounts by November 11. The company’s shares are slated for listing on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 12.
Sagility India demonstrated strong financial growth in FY2024, with revenue increasing by 12.87% year-on-year, reaching Rs 4,781.5 crore, up from Rs 4,236.06 crore in the previous fiscal.
The company’s profit after tax (PAT) surged by nearly 59%, reporting Rs 228.27 crore in FY2024, compared to Rs 143.57 crore the prior year. In the first quarter of the current financial year (June 2024), Sagility India’s revenue was Rs 1,247.76 crore, with a net profit of Rs 22.29 crore.
Formerly known as Berkmeer India Private Limited, Sagility India provides healthcare services tailored to US health insurers and healthcare providers, such as hospitals, diagnostic facilities, and medical technology companies. The company offers a comprehensive suite of services, including claims processing, payment integrity, and clinical management.
With promising financials and a robust service offering, Sagility India’s IPO could attract strong interest from investors seeking opportunities in the healthcare sector.
