Sagility India Ltd.'s initial public offering of shares worth Rs 2,106 crore is scheduled to open for subscription on Tuesday, Nov. 5. The entire IPO is an offer-for-sale. The price band has been set at Rs 28-30 per share.
Issue Details
Issue opens: Nov. 5
Issue closes: Nov 7.
Issue price: Rs 28-30 per share.
Offer for sale: Rs 2,106 crore
Total issue size: Rs 2,106 crore
Use of Proceeds
The company will not receive any proceeds from the Offer for Sale. The selling proceeds will go to the selling promoter.
Business Overview
Sagility India provides technology-enabled business solutions and services to clients in the U.S. healthcare industry. The company was incorporated on July 28, 2021, however, it acquired the healthcare services business of the predecessor company on January 6, 2022, which is when it started commercial operations.
Clients of Sagility India 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).
Services to 'Payers' cater to their core benefits administration functions such as claims management, enrolment, benefits plan building, premium billing, credentialing, and provider data management and clinical functions such as utilisation management, care management, and population health management.
Services to' Providers' include revenue cycle management functions such as financial clearance, medical coding, billing, and accounts receivable follow-up services.
All of the company's clients are located in the U.S. as of June 30, 2024.
Financial Highlights
Key Risk Factors
The healthcare services industry is highly competitive and if the company is unable to compete effectively, it may adversely affect the business, financial condition and results of operation.
The business is solely focused on the U.S. healthcare industry and may be adversely affected by factors affecting the U.S. healthcare industry, including a decline in the growth of the U.S. healthcare industry, reduction in outsourcing and other trends.
Goodwill and other intangible assets are largest assets. Any impairment to the goodwill or other intangible assets may adversely affect the reputation and financial condition.
One of the Independent Directors has received summons in relation to an ongoing investigation by SEBI of Linde India Limited and the matter is currently pending.
Anti-outsourcing legislation could adversely affect the business, financial condition and results of operations and impair its ability to service customers.
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