Bookbuilding IPO | ₹2,106 Cr | Listed at BSE, NSE | Tue, Nov 5, 2024 - Thu, Nov 7, 2024
Sagility India IPO is a book build issue of ₹2,106.40 crores. The issue is entirely an offer for sale of 70.22 crore shares of ₹2,106.40 crore.
Sagility India IPO bidding started from Nov 5, 2024 and ended on Nov 7, 2024. The allotment for Sagility India IPO was finalized on Nov 8, 2024. The shares got listed on BSE, NSE on Nov 12, 2024.
Sagility India IPO price band is set at ₹30 per share. The lot size for an application is 500. The minimum amount of investment required by an retail is ₹15,000 (500 shares) (based on upper price). The lot size investment for sNII is 14 lots (7,000 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (33,500 shares), amounting to ₹10,05,000.
The issue includes a reservation of up to 19,00,000 shares for employees offered at a discount of ₹2.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Sagility India IPO RHP for detailed Information.
IPO Open
Tue, Nov 5, 2024
IPO Close
Thu, Nov 7, 2024
Issue Price
₹30 per share
Market Cap (Pre-IPO)
₹14,043.99 Cr
| IPO Date | 5 to 7 Nov, 2024 |
| Listed on | Tue, Nov 12, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹28 to ₹30 |
| Issue Price | ₹30 per share |
| Lot Size | 500 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹2.00 |
| Total Issue Size | 70,21,99,262 shares (agg. up to ₹2,106 Cr) |
| Offer for Sale | 70,21,99,262 shares of ₹10 (agg. up to ₹2,106 Cr) |
| Share Holding Pre Issue | 4,68,13,28,413 shares |
| Share Holding Post Issue | 4,68,13,28,413 shares |
| BSE Script Code / NSE Symbol | 544282 / SAGILITY |
| ISIN | INE0W2G01015 |
Sagility India IPO offers total 70,21,99,262 shares. Out of which 52,52,24,447 (74.80%) allocated to QIB, 21,00,89,779 (29.92%) allocated to QIB (Ex- Anchor), 10,50,44,889 (14.96%) allocated to NII 7,00,29,926 (9.97%) allocated to RII and 31,51,34,668 (44.88%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 52,52,24,447 (74.80%) | NA |
| − Anchor Investor Shares Offered | 31,51,34,668 (44.88%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 21,00,89,779 (29.92%) | NA |
| NII (HNI) Shares Offered | 10,50,44,889 (14.96%) | NA |
| − bNII > ₹10L | 7,00,29,926 (9.97%) | 10,004 |
| − sNII < ₹10L | 3,50,14,963 (4.99%) | 5,002 |
| Retail Shares Offered | 7,00,29,926 (9.97%) | 1,40,059 |
| Employee Shares Offered | 19,00,000 (0.27%) | NA |
| Total Shares Offered | 70,21,99,262 (100.00%) |
Investors can bid for a minimum of 500 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹15,000 |
| Retail (Max) | 13 | 6,500 | ₹1,95,000 |
| S-HNI (Min) | 14 | 7,000 | ₹2,10,000 |
| S-HNI (Max) | 66 | 33,000 | ₹9,90,000 |
| B-HNI (Min) | 67 | 33,500 | ₹10,05,000 |
Sagility India IPO raises ₹945.40 crore from anchor investors. Sagility India IPO Anchor bid date is November 4, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Nov 4, 2024 |
| Shares Offered | 31,51,34,668 |
| Anchor Portion (₹ Cr.) | 945.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 8, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 6, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Sagility India Limited, formerly known as Berkmeer India Private Limited, provides healthcare-focused solutions and services to Payers (US health insurers who fund and reimburse the cost of healthcare services) and Providers (primarily hospitals, physicians, diagnostics and medical technology companies).
The company supports the core business of both payers and providers. Services to payers span their entire operational spectrum, including centralized claims administration and clinical services functions. These include claims administration, payment integrity, clinical management and other services. For providers, the company offers revenue cycle management services to assist them in managing their billing and claiming treatment costs from payers. In addition, the Company also offers some of the services it provides to Payers to Pharmacy Benefit Managers (“PBMs”) who manage prescription drug coverage for members (i.e., insureds) under health benefit plans.
The company's customers are all based in the USA. As of March 31, 2024, the Company's five largest customer groups (i.e. the customer companies together with their subsidiaries) had an average tenure of service of 17 years. In January 2024, the company served five of the ten largest payers in the US (source: Everest Report). In addition, the company acquired 20 new customers in the financial years 2024 and 2023.
As of March 31, 2024, Sagility India had 35,044 employees, of which 60.52% were women. As of March 31, 2024, 1,687 of the employees held certifications, including 374 certified medical coders, 1,280 registered nurses in the US, Philippines and India, and 33 employees with other degrees such as dentistry, surgery and pharmacy.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 10,388.01 | 10,664.20 | 10,590.48 | 10,096.28 |
| Total Income | 1,247.76 | 4,781.50 | 4,236.06 | 944.39 |
| Profit After Tax | 22.29 | 228.27 | 143.57 | -4.67 |
| NET Worth | 7,608.16 | 6,443.13 | 6,206.67 | 4,026.62 |
| Reserves and Surplus | 2,704.28 | 1,855.44 | 4,013.38 | 2,073.80 |
| Total Borrowing | 943.91 | 1,933.52 | 2,347.94 | 4,239.23 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | The Company will not receive any proceeds from the Offer. For details of Offered Shares from the Promoter Selling Shareholder. |
| KPI | Jun 30, 2024 |
|---|---|
| Debt/Equity | 0.15 |
| RoNW | 0.29 |
| PAT Margin | 11.83% |
| Price to Book Value | 2.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.49 | 0.49 |
| P/E (x) | 61.52 | 61.52 |
| Promoter Holding | 97.39% | 82.39% |
| Market Cap | ₹14,043.99 Cr. |
The Sagility India IPO is subscribed 3.2 times on November 7, 2024 6:19:09 PM (Day 3). The public issue subscribed 4.16 times in the retail category, 3.52 times in the QIB category, and 1.93 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.52 | 21,00,89,779 | 73,86,82,000 |
| NII | 1.93 | 10,50,44,889 | 20,27,02,500 |
| bNII (bids above ₹10L) | 1.69 | 7,00,29,926 | 11,84,50,500 |
| sNII (bids below ₹10L) | 2.41 | 3,50,14,963 | 8,42,52,000 |
| Retail | 4.16 | 7,00,29,926 | 29,14,61,000 |
| Employee | 3.75 | 19,00,000 | 71,30,000 |
| Total | 3.2 | 38,70,64,594 | 1,23,99,75,500 |
Total Application : 5,73,307
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers' fees and commission (including underwriting commission) | 45.49 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 4.82 |
| 3 | Fees payable to the Registrar to the Offer | 1.44 |
| 4 | Others - Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 9.15 |
| 5 | Others - Printing and distribution of issue stationery | 1.08 |
| 6 | Others - Advertising and marketing expenses | 3.58 |
| 7 | Others - Fees payable to legal counsels | 10.46 |
| 8 | Others - Fees payable to other advisors to the Offer | 14.24 |
| 9 | Others - Miscellaneous | 37.67 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹30.00 | ₹30.00 |
| Open | ₹31.06 | ₹31.06 |
| Low | ₹28.95 | ₹28.95 |
| High | ₹32.90 | ₹32.87 |
| Last Trade | ₹29.36 | ₹29.32 |
Sagility India IPO is a main-board IPO of 70,21,99,262 equity shares of the face value of ₹10 aggregating up to ₹2,106 Crores. The issue is priced at ₹30 per share. The minimum order quantity is 500.
The IPO opens on Tue, Nov 5, 2024, and closes on Thu, Nov 7, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Sagility India IPO using UPI as a payment gateway. Zerodha customers can apply in Sagility India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sagility India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sagility India IPO opens on Tue, Nov 5, 2024 and closes on Thu, Nov 7, 2024.
Sagility India IPO lot size is 500, and the minimum amount required for application is ₹15,000.
You can apply in Sagility India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sagility India IPO will be done on Friday, November 8, 2024, and the allotted shares will be credited to your demat account by Mon, Nov 11, 2024. Check the Sagility India IPO allotment status.
The Sagility India IPO listing date is on Tue, Nov 12, 2024.
