Sagility India IPO: What GMP Indicates Ahead Of Launch

The subscription window for Sagility India Ltd.'s initial public offering (IPO) is set to open on November 5. Ahead of the launch, the IPO has been garnering significant interest in the unlisted market. According to InvestorGain, the grey market premium (GMP) on Sagility India IPO stood at Rs 3 as of 9:27 a.m. on November 4.

The GMP trend indicates that Sagility India Ltd. shares will likely debut at Rs 33, which marks a listing at a 10% premium over the IPO's upper price band of Rs 30.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The subscription window for Sagility India IPO will remain open between November 5 and November 7. The finalisation of share allotment will follow on November 8. 

Shares of Sagility India IPO will be listed on the BSE and NSE, tentatively on November 12.

Sagility India IPO is an entirely offer-for-sale component of 70.22 crore shares worth Rs 2,106.6 crore. The company has set the IPO price band in the range of Rs 28 to Rs 30 apiece. Retail investors can bid in the Sagility India IPO with a minimum lot size of 500 shares totalling an investment of  Rs 15,000. 

Sagility India has appointed IIFL Securities Ltd, ICICI Securities Ltd, JP Morgan India Ltd and Jefferies India Ltd as the book-running lead managers for this mainboard issue. 

Link Intime India is the registrar for Sagility India IPO.

Use of Proceeds

Since it is an entirely OFS issue, proceeds from the IPO will directly go to the selling shareholders.

About Sagility India Ltd.

Sagility India Ltd is a provider of healthcare-focused solutions and services for US health insurers, who fund and reimburse the cost of healthcare services, and providers of medical services such as hospitals, physicians, diagnostics and medical technology companies. The company’s customers are primarily based in the USA.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.