Sagility India IPO Anchor Allocation at 44.88%

Sagility India IPO saw a significant anchor allocation response, with 44.88% of the total IPO size subscribed by anchor investors. Out of 702,199,262 shares on offer, anchors picked up 315,134,668 shares, demonstrating strong market confidence. The anchor allocation details were reported to the stock exchanges on 4th November 2024, just ahead of the IPO opening on 5th November 2024.

The book-built issue of ₹2,106.60 crores is entirely an offer for sale of 702,199,262 shares. The price band is set at ₹28 to ₹30 per share, with a face value of ₹10 per share. This includes a share premium of ₹20 per share at the upper end of the price band. The issue includes a reservation of up to 1,900,000 shares for employees offered at a discount of ₹2 to the issue price.

The anchor allocation process, which took place on 4th November 2024, saw strong participation from institutional investors. The entire anchor allocation was made at the upper end of the price band, ₹30 per share, indicating robust demand and confidence in the company's prospects.

After the anchor allocation, the overall allocation of the Sagility IPO looks as follows:

Notably, the 315,134,668 shares allocated to anchor investors were reduced from the original Qualified Institutional Buyers (QIB) quota. The QIB quota has been adjusted to ensure that the overall allocation to QIBs, including the anchor portion, remains within regulatory limits.

The lock-in period for anchor investors is an important aspect of the allocation. For Sagility India IPO, the lock-in details are as follows: 

• Lock-in Period (50% Shares): 8th December 2024 
• Lock-in Period (Remaining Shares): 6th February 2025

This lock-in period ensures that anchor investors maintain their investments for a specified duration, stabilising the stock price after listing.

Anchor Investors in Sagility India IPO 

Anchor investors are typically large institutional investors allotted shares in an IPO before it opens to the public. The anchor allocation process is a crucial part of the IPO, as it helps in price discovery and builds confidence among retail investors. The strong response from anchor investors often sets a positive tone for the public issue and can influence the overall subscription levels.

On 4th November 2024, Sagility India IPO completed the bidding for its anchor allocation. There was a robust response as the anchor investors participated in the book-building process. A total of 315,134,668 shares were allotted to 52 anchor investors. The allocation was done at the upper IPO price band of ₹30 per share, resulting in an overall anchor allocation of ₹945.40 crore. The anchors have already absorbed 44.88% of the total issue size of ₹2,106.60 crore, indicating strong institutional demand.

Out of the total allocation of 315,134,668 Equity Shares to the Anchor Investors, 118,403,500 Equity Shares (i.e., 37.57% of the total allocation) were allocated to 8 domestic mutual funds through 26 schemes.

Also read Sagility India's IPO Market Position and Growth Prospects

Sagility India: Key IPO Details: 

• Sagility  IPO Size: ₹2,106.60 crores 
• Shares Allocated to Anchors: 315,134,668 
• Anchor Subscription Percentage: 44.88% 
• Sagility IPO Listing Date: 12th November 2024 
• IPO Opening Date: 5th November 2024

About Sagility India IPO and How to Apply for Sagility India IPO 

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 centralised 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.

As of 31st March 2024, Sagility India had 35,044 employees, of which 60.52% were women. As of 31st March 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.