Sagility India IPO Day 1: GMP, Subscription Status, Review, Other Details. Apply or not?

Sagility India IPO: The initial public offering (IPO) of Sagility India Limited took place today in the Indian primary market. Bidding for the Sagility India IPO will remain open until November 7, 2024. This means Sagility India IPO subscription will be open from Tuesday to Thursday this week. Healthcare solutions provider Sagility India’s IPO price range has been fixed at ₹28 to ₹30 per piece. The company aims to raise ₹2,106.60 crore from this initial offer, which is entirely an offer for sale (OFS). Meanwhile, the company’s shares are available in the gray market ahead of the subscription opening date for Sagility India’s IPO. According to stock market observers, shares of Sagility India are trading at a premium ₹3 on the gray market today.

Sagility India IPO Details

1) Sagility India IPO GMP: According to stock observers, the company’s shares are trading at a premium ₹3 on the gray market today.

2) Sagility India IPO Price: The healthcare solutions provider has a fixed price range for its public offering ₹28 to ₹100.

3) Sagility India IPO Date: Bidding for the public issue will be open from November 5 to 7, 2024.

4) Size of Sagility India IPO: The company aims to raise ₹2106.60 crore from this initial offer which is entirely OFS. This means that the net proceeds from the public issue will go into the pockets of the promoters who sell their stake in the company.

5) Size of Sagility India IPO: A bidder can bid in lots, and one book issue lot compares 500 shares of a company.

6) Sagility India IPO date: The most likely distribution date is Friday, November 8, 2024.

7) IPO Registrar Sagility India: Link Intime India Private Limited has been appointed as the official book release registrar.

8) Date of Sagility India IPO: The book issue is proposed for listing on BSE and NSE. The most likely date for the placement of shares is November 12, 2024.

9) Lead Managers of Sagility India IPO: ICICI Securities, IIFL Securities, Jefferies India and JP Morgan India have been appointed as lead managers for the public issue.

Sagility India IPO: To File or Not to File?

10) Overview of Sagility India IPO: Tagging the book-building issue, Prathamesh Masdekar, research analyst at StoxBox, said: “As of January 2024, the company served 5 of the top 10 sign-up payers in the US. Financially, the company’s income from operations rose 9.6% to Rs 1,223 crore for the quarter ended June 30, 2024, from Rs 1,116 crore in the quarter ended June 30, 2023, and 12.69% to Rs 4,753 Rs in FY23. The FY24 EBITDA margin was 23.5% and the June 30, 2024 P/E is based on FY24 earnings. Therefore, we recommend a “SUBSCRIBE” rating for the release.

Master Capital also assigned a buy tag to the public issue, noting: “US healthcare spending is expected to grow at a CAGR of approximately 3.2% from 2014 to 2023 and is valued at approximately $201.1 billion ( ₹16.8 trillion) in 2023. These expenditures are expected to grow at an average annual growth rate of approximately 5.2% to approximately $258.9 billion ( ₹21.6 trillion) in 2028, driven by an aging population, increasing prevalence of chronic diseases, and various government initiatives to improve healthcare services, among other factors. Complex services, strict compliance requirements, complex performance metrics, and multifaceted payment workflows characterize the US healthcare industry. These challenges require the involvement of specialized service providers with the expertise to effectively navigate and manage these complexities. Sagility India Limited is one of the leading technology-based healthcare professionals with full coverage of all healthcare payer and provider markets. The company’s deep, long-term customer relationships among payers and healthcare providers help achieve high customer loyalty and retention. Investors interested in the company can invest in the IPO for the long term.”

In addition to these, BP Equities, Marwadi Shares and Finance and Ventura Securities have also subscribed to the public issue.

Disclaimer: The views and recommendations presented in this article are the views of individual analysts. They do not reflect the views of the Mint. We advise investors to consult with certified experts before making any investment decisions.