The initial public offering (IPO) of Sagility India Limited will open for public offers on Tuesday, November 5 and close on Thursday, November 7. The Indian arm of Sagility has set the price range at ₹28 to ₹30 per share.
The healthcare-focused service provider targets US health insurers (Payers) to finance and reimburse the costs of healthcare services. The company also focuses on suppliers such as hospitals, doctors and diagnostic and medical equipment companies.
Sagility India IPO – 10 things you need to know as an investor
1. Sagility India IPO Issue Size: The Bengaluru-based healthcare provider is aiming for an increase ₹2,106.60 crore through an offer for sale (OFS) of equity shares of face value ₹10 per share.
2. Sagility India IPO Issue Date: The IPO opens for public subscription on Tuesday, November 5 and closes on Thursday, November 7.
3. Agility India IPO Price Range: The company has set its price range at ₹28 to ₹30 per treasury share.
4. Sagility India IPO Listing Date: The IPO is expected to be listed on the BSE and NSE stock exchanges on Tuesday, November 12.
5. Sagility India IPO anchor round: The anchor round for the public issue will take place on Monday, November 4.
6. Sagility India IPO Allocation Basis: The public issue offer includes an offer-for-sale (OFS) component for shares of Rs 70.22 crore. This entire equity segment will be offered by the Netherlands-based promoter, Sagility BV.
7. Sagility India IPO caveat: According to the company’s prospectus, up to 75 percent of the net offer will be allocated to Qualified Institutional Buyers (QIB) on a proportionate basis. Of this, the company may allocate up to 60 percent of the QIB portion to the anchor investors.
In addition, 5 percent of the net QIB portion will be available for allocation to mutual funds. Not more than 15 percent of the net offering will be for the non-institutional investors (NII) and 10 percent for the retail investors.
8. Sagility India IPO Proceeds: The proceeds from the public offer will go to the promoter selling the equity stake, namely Sagility BV, and the company will not receive any money raised from the public issue.
9. Agility India IPO GMP: Today’s gray market premium (GMP) for the IPO is ₹3 from November 3. With the upper price range on ₹30, the public issue is estimated to be listed at ₹33, according to Investorgain.com.
The gray market premium is an investor’s willingness to pay more for a public offering.
10. Sagility India IPOs Merchant Banker and Registrar: ICICI Securities, IIFL Securities, Jefferies India Private Limited and JP Morgan India Private Limited are the bookrunners. At the same time, Link Intime India is the registrar of the public issue.
