Sagility IPO
IPO Listing Details
- Listing Date
12 Nov 2024
- Listing Price
₹31.06
- Listing Change
3.53%
- Last Traded Price
₹53.86
IPO Details
- Open Date
05 Nov 2024
- Close Date
07 Nov 2024
- IPO
Price Range
₹ 28 to ₹ 30
- IPO
Size
₹ 2106.60 Cr
- Listing Exchange
BSE, NSE
- Listing Date
12 Nov 2024
IPO Timeline
Sagility IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 5-Nov-24 | 0.00 | 0.08 | 1.14 | 0.23 |
| 6-Nov-24 | 0.07 | 0.24 | 2.26 | 0.52 |
| 7-Nov-24 | 3.52 | 1.93 | 4.16 | 3.20 |
Last Updated: 07 November 2024 6:45 PM by 5Paisa
Sagility India IPO is set to open on 05 November 2024 and will close on 07 November 2024. The company specialises in healthcare-focused solutions and services, catering to both Payers and Providers in the US healthcare industry.
The IPO includes an offer for sale of 70.22 Cr shares aggregating up to ₹2,106.60 Cr. The price band is ₹28 to ₹30 per share and the lot size is 500 shares.
The allotment is scheduled to be finalised on 08 November 2024. It will go public on NSE & BSE, with a tentative listing date of 12 November 2024.
ICICI Securities Ltd, IIFL Securities Ltd, Jefferies India Pvt Ltd and J.P. Morgan India Pvt Ltd are the book-running lead managers, while Link Intime India Pvt Ltd is the registrar.
Sagility IPO Size
| Types | Size |
|---|---|
| Total IPO Size | 2,106.60 |
| Offer For Sale | 2,106.60 |
| Fresh Issue | - |
Sagility IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | 15,000 |
| Retail (Max) | 13 | 6500 | 1,95,000 |
| S-HNI (Min) | 14 | 7000 | 2,10,000 |
| S-HNI (Max) | 66 | 33000 | 9,90,000 |
| B-HNI (Min) | 67 | 33500 | 10,05,000 |
Sagility IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 3.52 | 21,00,89,779 | 73,86,82,000 | 2,216.046 |
| NII (HNI) | 1.93 | 10,50,44,889 | 20,27,02,500 | 608.108 |
| Retail | 4.16 | 7,00,29,926 | 29,14,61,000 | 874.383 |
| Employees | 3.75 | 19,00,000 | 71,30,000 | 21.390 |
| Total** | 3.20 | 38,70,64,594 | 1,23,99,75,500 | 3,719.927 |
Note:
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Sagility IPO Anchor Allocation
| Anchor Bid Date | 4 November, 2024 |
| Shares Offered | 315,134,668 |
| Anchor portion Size (In ₹ Cr.) | 945.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | 8 December, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 6 February, 2025 |
The proceeds from the IPO will not be used for the company’s operational or growth initiatives. Instead, the IPO is being launched to facilitate an exit for the existing shareholders, allowing them to divest their holdings.
Sagility India Limited, previously known as Berkmeer India Private Limited, specialises in healthcare-focused solutions and services, catering to both Payers and Providers in the US healthcare industry. Payers include US health insurers responsible for funding and reimbursing health care costs, while Providers comprise hospitals, physicians, diagnostics, and medical technology companies.
The company offers comprehensive support for the core operations of Payers and Providers. Its services for Payers encompass a wide operational range, including centralised claims administration and clinical service functions, with offerings such as claims processing, payment integrity, and clinical management. For Providers, Sagility provides revenue cycle management solutions to streamline billing processes and facilitate the claiming of treatment costs from Payers. Additionally, Sagility extends specific Payer services to Pharmacy Benefit Managers (PBMs), who oversee prescription drug benefits for insured individuals under health plans.
All of Sagility’s clients are based in the United States. As of March 31, 2024, its top five customer groups had an average tenure of 17 years, reflecting long standing client relationships. In January 2024, Sagility served five of the ten largest Payers in the US, according to the Everest Report. Moreover, the company welcomed 20 new clients in the financial years 2024 and 2023.
By March 31, 2024, Sagility India employed 35,044 individuals, with women comprising 60.52% of its workforce. Among these employees, 1,687 held specialised certifications, including 374 certified medical coders, 1,280 registered nurses across the US, Philippines, and India, and 33 professionals with qualifications in dentistry, surgery, and pharmacy.
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 4,781.5 | 4,236.06 | 944.39 |
| EBITDA | 1,116.04 | 1,044.86 | 210.57 |
| PAT | 228.27 | 143.57 | -4.67 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 10,664.2 | 10,590.48 | 10,096.28 |
| Share Capital | 4,285.28 | 1,918.67 | 1,918.67 |
| Total Borrowings | 1,933.52 | 2,347.94 | 4,239.23 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22* |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 973.26 | 856.78 | -31.89 |
| Net Cash Generated From / (used in) investing activities | -469.06 | -129.06 | -7,714 |
| Net Cash Generated From / (used in) financing activities | -751.34 | -544.62 | 8,116.35 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -247.14 | 183.10 | 370.46 |
* For FY22 data is from date range 28 July 2021-31 March 2022 in the above tables and graph.
Strengths
1. With over 17 years of average client tenure, Sagility demonstrates strong, enduring relationships with major US-based payers, highlighting trust and reliability in healthcare services.
2. Sagility’s comprehensive service offerings cover critical functions for both payers and providers, including claims management, payment integrity, and revenue cycle management, enhancing operational efficiency.
3. Serving five of the top ten US health insurers, Sagility has a solid position within the healthcare industry, leveraging its experience with leading players in the sector.
4. A highly skilled workforce with certifications in medical coding, nursing, and other healthcare fields enables Sagility to deliver specialised, quality-driven solutions to its clients.
5. With women representing 60.52% of the workforce, Sagility promotes gender diversity, supporting a balanced and inclusive work environment across its operations.
Risks
1. Sagility’s reliance on US-based clients exposes it to geographic concentration risk, making it susceptible to regulatory changes and economic shifts within the United States.
2. The evolving regulatory landscape in the US healthcare sector poses operational risks, as changes may affect service delivery requirements and compliance costs for Sagility.
3. The healthcare outsourcing industry is highly competitive, with constant technological advancements creating pressure on Sagility to invest in innovation to remain competitive.
4. Sagility’s dependence on certified professionals introduces talent retention and recruitment risks, as maintaining such a skilled workforce is crucial for delivering high-quality services.
5. Handling extensive healthcare data, Sagility faces significant risks related to data security and privacy, necessitating robust measures to protect sensitive client information.
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FAQs
Sagility India IPO opens from 05th November to 07th November 2024.
The size of the Sagility India IPO is ₹2,106.60 Cr.
The price band of Sagility India IPO is fixed between ₹28 to ₹30 per share.
To apply for Sagility India IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Sagility India IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Sagility India IPO is 500 shares and the investment required is ₹14,000.
The share allotment date of Sagility India IPO is 08th November 2024.
The Sagility India IPO will be listed on 12th November 2024.
ICICI Securities Ltd, IIFL Securities Ltd, Jefferies India Pvt Ltd and J.P. Morgan India Pvt Ltd are the book-running lead managers.
The proceeds from the IPO will not be used for the company’s operational or growth initiatives. Instead, the IPO is being launched to facilitate an exit for the existing shareholders, allowing them to divest their holdings.
Contact Information
Sagility
Sagility India Limited
No. 23 & 24, AMR Tech Park,
Building 2A, First Floor, Hongasandara Village,
Off Hosur Road, Bommanahalli, Bengaluru - 560 068
Phone: +91- 80-7125 150
Email: investorservice@sagilityhealth.com
Website: http://www.sagilityhealth.com/
Sagility IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: sagility.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Sagility IPO Lead Manager
ICICI Securities Limited
IIFL Securities Ltd
Jefferies India Private Limited
J.P. Morgan India Private Limited
