Sagility India Sets IPO Price Band At Rs 28–30 Apiece—Check Key Dates, Size And More

The initial public offering of Sagility India Ltd., a healthcare company, will open for bidding next week at a price band of Rs 28-30 per share.

The IPO of Sagility India comprises of entirely an offer-for-sale of 70.22 crore equity shares by promoter Sagility BV, with no fresh issue component. The company aims to raise Rs 2,107 crore from the offer.

This will be the second book building offer set to happen next week, after Swiggy. The issue opens for subscription on Nov. 5 and will close on Nov. 7. The anchor book issue will be open for subscription on Nov. 4.

The company has decreased its IPO size from the initially proposed 98.44 crore equity shares stated in the preliminary filing.

Investors can bid for a minimum of 500 equity shares, with additional bids in multiples of 500 shares. Retail investors will have a minimum investment of Rs 15,000 (for 500 shares) and a maximum of Rs 1.95 lakh (for 6,500 shares), as their total investment cannot exceed Rs 2 lakh.

The company has allocated 75% of the net offer to qualified institutional buyers, 15% to non-institutional investors, and the remaining 10% to retail investors. Employees have a portion of 19 lakh shares reserved for them.

The IPO is an offer for sale, and the company will not receive any proceeds from it.

ICICI Securities, IIFL Securities, Jefferies India and JP Morgan are the book running lead managers of the Sagility India IPO, while Link Intime India is the registrar for the issue.

Sagility is a technology-enabled, pure-play provider of healthcare solutions and services, supporting US-based payers, providers, and their partners.

Payers refer to US health insurance companies that cover and reimburse healthcare expenses, while providers include hospitals, physicians, and manufacturers of diagnostic and medical devices.