MUMBAI, 30 OCTOBER, 2024 (GPN): Sagility India’s initial public offering is slated to open next week in the price band of Rs. 28 to Rs. 30 per share. The IPO will open for subscription on November 5 and close on November 7.

The company intends to raise Rs. 2,106.60 at the upper price band of the issue. The floor and cap prices for Sagility India IPO are 2.80 times and 3 times the face value of Rs. 10 per share.Sagility India IPO is entirely an offer for sale (OFS) of 70.22 crore shares, wherein promoter Sagility B.V. is selling the stake.

The anchor allotment for Sagility India IPO will open on Monday, November 4. Meanwhile, the basis of allotment is likely to be finalised on Friday, November 8 with credit of shares expected to happen on the same day. The shares will likely list on BSE and NSE on Tuesday, November 12.

Investors can bid for a minimum lot of 500 equity shares and in multiples thereafter. The company is offering a discount of Rs. 2 per share to eligible employees bidding in the employee reservation portion.

Not less than 75 per cent of the net offer is reserved for qualified institutional buyers (QIBs), not more than 15 per cent of the offer is allocated to non-institutional investors (NIIs) and not more than 10 per cent is reserved for retail investors. Up to 19,00,000 shares are reserved for the employees of the company.

As of March 31, 2024, Sagility had 35,044 employees, 60.52 per cent of them women, up from 30,830 a year ago. In the Financial Year 2024, Sagility helped Payer clients process 105 million claims and manage over 75 million Member and Provider interactions. It has no listed comparable in India or abroad that cater to US Healthcare Enterprises

As of June 30, 2024, Sagility employed 35,858 people, with 60.52% being women. This was 33,575 people in June 30 2023.

Sagility India’s restated revenue from operations during the fiscal year 2024 increased 12.69% to Rs 4,753.56 crore from Rs 4,218.41 crore in the previous year, primarily due to growth in volumes from existing clients and addition of new SOWs during the Financial Year 2024. Profit after tax grew 58.99% from Rs 143.57 crore for the financial year 2023 to Rs 228.27 crore for the financial year 2024.

For the three months ended June 30, 2024, revenue from operations stood at Rs 1,223.33 crore and profit after tax stood at Rs 22.29 crore.

Sagility India provides technology-enabled business solutions and services to clients in the U.S. healthcare industry. It is a pure-play healthcare-focused services provider, and its clients include Payers (U.S. health insurance companies, which finance and reimburse the cost of health services) and Providers (primarily hospitals, physicians, and diagnostic and medical devices companies).

ICICI Securities, IIFL Securities, Jefferies India Private Limited and J.P. Morgan India Private Limited are the book-running lead managers while Link Intime India is the registrar to the issue.

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