Sagility India IPO Subscription Details on Day 2

6 Nov 2024 , 12:14 PM

Sagility India, a healthcare technology services provider, launched its IPO with 22% bids received on the first day.

At the time of writing on the second of subscription, November 6, 2024 at 12:08 pm, Retail investors showed strong interest, fully subscribing their portion with a 1.69 times bid. The employee reserved segment also performed well, achieving 2.03 times subscription. Non-institutional investor (NII) demand was modest, with only 0.12 times subscription, while qualified institutional buyers (QIBs) are yet to participate.

Opening on November 5, the IPO is set to close on November 7, with a price range of ₹28-30 per share.

On the opening day, Sagility India raised over ₹945 crore from anchor investors. The IPO comprises an Offer for Sale (OFS) of 70.22 crore shares by promoter Sagility BV, valuing at ₹2,106.60 crore at the upper end of the price range.

Since this IPO is an OFS, proceeds will go solely to the selling shareholders, not to Sagility India. The listing aims to enhance the company’s visibility and market benefits through a stock exchange presence.

Sagility India serves both U.S. healthcare payers (health insurers) and providers (hospitals, doctors, and medical device companies), offering technology-enabled solutions tailored to their needs.