Sagility India Makes Muted Stock Market Debut; Lists At A Premium of 3.53%

Shares of Sagility India made a muted debut on the Indian benchmark indices today. The stock was listed at ₹31.06 on NSE and BSE over the issue price of ₹30, a premium of 3.53%.

The tech-enabled healthcare business planned to raise ₹2,106.60 crore via its IPO. The shares of the company were open for subscription between November 5 to November 8. The price of the share was pegged between ₹28-30.

Overall Sagility IPO was subscribed by 3.2 times, where the company received bids for 123.99 crore shares against 38.7 crore shares. While retail investors subscribed the shares by 4.16 times, subscription by non-institutional investors (NIIs) stood at 1.93 times. The portion by qualified institutional buyers (QIB) remained fully subscribed with 3.52 times bids. The remaining employee quota was bidded by 3.75 times.

About the IPO

The IPO is completely an offer for sale (OFS) of 70.22 crore shares. In an OFS, proceeds from the initial share sale don’t go to the company. Following the issue, promoter shareholding will be reduced to 82.5%. On November 4 the company raised ₹945.40 crore from anchor investors. About 19,00,000 shares were reserved for employees at a discount of ₹2 to the issue price.

About the company

Sagility India is engaged in providing healthcare-focused solutions and services to US-based payers (health insurers) and providers. Founded in 2021, the company has collaborated with payers (hospitals and physicians), thereby processing over 150 million transactions annually.