Synopsis:
- Sagility India IPO: Main-board offering of 702,199,262 equity shares, face value ₹10 each, aggregating ₹2,106.60 crore.
- Price Band: ₹28 to ₹30 per share.
- Open/Close Dates: Opens on November 5, 2024, and closes on November 7, 2024.
- Registrar: Link Intime India Private Ltd.
- Lot Size: Minimum of 500 shares, requiring an investment of ₹15,000.
- Application Methods: Available online via UPI or ASBA.
- Allotment Date: Finalization on November 8, 2024; shares credited by November 11, 2024.
- Listing Date: Tentative listing on November 12, 2024.
Sagility India Limited is all set to launch its initial public offering (IPO) on November 5, 2024, with a total IPO size of ₹2,106.60 crore through a book-built issue. This IPO is entirely an offer for sale, consisting of 70.22 crore shares, and is scheduled to close on November 7, 2024. The share price for this offering is set within a price band of ₹28 to ₹30 per share, and shares are expected to be listed on both BSE and NSE with a tentative listing date of November 12, 2024.
IPO Details
- IPO Date: November 5, 2024, to November 7, 2024
- Face Value: ₹10 per share
- Price Band: ₹28 to ₹30 per share
- Lot Size: 500 shares
- Total Issue Size: 702,199,262 shares (₹2,106.60 Cr)
- Offer for Sale: 702,199,262 shares (₹2,106.60 Cr)
- Employee Discount: ₹2 per share
- Issue Type: Book Built Issue IPO
- Listing At: BSE, NSE
- Pre-Issue Shareholding: 4,681,328,413 shares
- Post-Issue Shareholding: 4,681,328,413 shares (no dilution)
An additional 1.9 million or 1,900,000 shares are reserved for employees, offered at a discount of ₹2 per share. The IPO will allocate up to 75% of the net offer to Qualified Institutional Buyers (QIBs), 10% to retail investors, and 15% to Non-Institutional Investors (NIIs).
IPO Timeline (Tentative Schedule)
| Event | Date | Day |
|---|---|---|
| IPO Open Date | November 5, 2024 | Tuesday |
| IPO Close Date | November 7, 2024 | Thursday |
| Basis of Allotment | November 8, 2024 | Friday |
| Initiation of Refunds | November 8, 2024 | Friday |
| Credit of Shares to Demat Accounts | November 11, 2024 | Monday |
| Listing Date | November 12, 2024 | Tuesday |
| Cut-off Time for UPI Mandate Confirmation | November 7, 2024 | Thursday (5 PM) |
IPO Lot Size and Investment Limits
The minimum bid for retail investors is 500 shares, and investments can be made in multiples of 500 shares. Below are the minimum and maximum investment amounts for retail investors and high-net-worth individuals (HNIs).
| Investor Type | Application Lots | Shares | Investment Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹15,000 |
| Retail (Max) | 13 | 6,500 | ₹195,000 |
| S-HNI (Min) | 14 | 7,000 | ₹210,000 |
| S-HNI (Max) | 66 | 33,000 | ₹990,000 |
| B-HNI (Min) | 67 | 33,500 | ₹1,005,000 |
Financial Information (Restated Consolidated)
Sagility India has reported a 13% increase in revenue and a 59% rise in profit after tax (PAT) from FY2023 to FY2024. Below is the summary of key financial metrics for recent periods.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹10,388.01 Cr | ₹10,664.2 Cr | ₹10,590.48 Cr | ₹10,096.28 Cr |
| Revenue | ₹1,247.76 Cr | ₹4,781.5 Cr | ₹4,236.06 Cr | ₹944.39 Cr |
| Profit After Tax | ₹22.29 Cr | ₹228.27 Cr | ₹143.57 Cr | -₹4.67 Cr |
| Net Worth | ₹7,608.16 Cr | ₹6,443.13 Cr | ₹6,206.67 Cr | ₹4,026.62 Cr |
| Reserves & Surplus | ₹2,704.28 Cr | ₹1,855.44 Cr | ₹4,013.38 Cr | ₹2,073.8 Cr |
| Total Borrowing | ₹943.91 Cr | ₹1,933.52 Cr | ₹2,347.94 Cr | ₹4,239.23 Cr |
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About Sagility India Limited
Formerly known as Berkmeer India Private Limited, Sagility India Limited specializes in healthcare business process outsourcing, primarily for U.S.-based clients. The company offers services in claims administration, payment integrity, clinical management, and revenue cycle management for health insurers and healthcare providers.
Employee Strength: As of March 2024, Sagility employs 35,044 employees, with 60.52% female representation. This includes 374 certified medical coders and 1,280 registered nurses working across the U.S., Philippines, and India.
