Sagility India to float IPO
image for illustrative purpose
New Delhi: Sagility India Ltd, a technology-enabled services provider in the healthcare services space, has filed preliminary papers with markets regulator Sebi to float an initial public offering.
The Bengaluru-based company’s proposed IPO is entirely an offer for sale (OFS) of 98.44 crore shares by promoter Sagility B.V, according to the Draft Red Herring Prospectus (DRHP). The offer includes a reservation for subscription by eligible employees. Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire fund will go to the selling shareholders.
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges. Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.
