Sagility India IPO Sees 2.01x Subscription on Day 3 Amid Strong Demand

Sagility India's initial public offering (IPO) has garnered moderate investor interest, with subscription rates showing steady growth over the three-day period. Starting modestly on day one, the IPO witnessed progressive demand, resulting in a 2.01 times oversubscription by the close of day three. This measured response indicates balanced market interest in Sagility India's shares ahead of its listing.

Sagility India IPO, which opened on 5th November 2024, has seen gradual growth in investor participation across categories. The retail segment has shown strong demand, reflecting confidence among individual investors in the company's prospects. The QIB category showed solid interest with 2.22 times subscription, while the Non-Institutional Investors (NII) category showed relatively subdued participation at 0.74 times.

This response to Sagility India's IPO comes amid its established position in the healthcare solutions sector, particularly its strong presence in the US market.

Subscription Status of Sagility India IPO for Days 1, 2, and 3:

Here are the subscription details for Sagility India IPO as of Day 3 (7th November 2024 at 1:43:09 PM):

Total Applications: 413,507

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portion of anchor investors is not included in the total shares offered.

Also read Should You Consider Investing in Sagility India IPO?

Key Highlights:

• The IPO is currently subscribed 2.01 times, with varied demand across investor categories
• Retail investors have shown strong enthusiasm, with a subscription ratio of 3.21 times
• QIB portion is subscribed 2.22 times showing institutional confidence
• Employee portion received good response at 3.17 times
• The NII category shows moderate interest at 0.74 times
• Total applications reached 4,13,507 on the final day.
• The overall subscription trend demonstrated balanced interest across categories with strong retail and employee participation

Sagility India IPO - Day 2 Subscription at 0.52 Times

Key Highlights:

• Overall subscription increased to 0.52 times, showing growing investor interest.
• Employee portion continued strong momentum reaching 2.47 times subscription.
• Retail portion witnessed significant uptick with 2.26 times subscription.
• Non-Institutional Investors (NII) showed improved interest with 0.24 times subscription.
• Small Non-Institutional Investors (sNII) maintained better response compared to bNII.
• QIB portion saw minimal participation at 0.07 times.
• Total applications increased to 2,45,892 by end of day two.
• The subscription trend showed building momentum across retail and employee categories.

Sagility India IPO - Day 1 Subscription at 0.23 Times

Key Highlights:

• Overall subscription reached 0.23 times on opening day, showing modest initial response.
• Employees showed strong initial interest with 1.43 times subscription.
• Retail investors demonstrated encouraging first-day participation with 1.14 times subscription.
• Non-Institutional Investors (NII) showed limited initial interest with 0.08 times subscription.
• Small Non-Institutional Investors (sNII) portion received relatively better response compared to bNII.
• Qualified Institutional Buyers (QIB) yet to begin participation.
• Total applications reached 1,11,513 on the first day.
• The subscription trend indicated strong retail and employee interest but cautious institutional participation.
   

Also check Sagility India IPO Anchor Allocation

About Sagility India Limited

Sagility India Limited, formerly known as Berkmeer India Private Limited, specialises in providing healthcare-focused solutions and services to Payers (US health insurers who fund and reimburse healthcare service costs) and Providers (primarily hospitals, physicians, diagnostics and medical technology companies). For FY 2024, Sagility India demonstrated strong financial performance with a revenue of ₹4,781.5 crore, marking a 13% year-over-year growth, and a Profit After Tax (PAT) of ₹228.27 crore, representing a 59% increase. The company's net worth stood at ₹6,443.13 crore as of 31st March 2024. Key performance indicators highlight the company's financial health, with a Return on Net Worth (RoNW) of 0.29, a PAT Margin of 11.83%, and a Debt/Equity ratio of 0.15.
The company serves all its customers in the USA, with its five largest customer groups maintaining an average tenure of 17 years. As of 31st March 2024, Sagility India had 35,044 employees, with 60.52% being women. The company has a strong professional workforce including 374 certified medical coders, 1,280 registered nurses across the US, Philippines and India, and 33 employees with specialized degrees in dentistry, surgery and pharmacy.

Highlights of the Sagility India IPO

• IPO Date: 5th November 2024 to 7th November 2024
• Listing Date: 12th November 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹28 to ₹30 per share
• Lot Size: 500 Shares
• Total Issue Size: 702,199,262 shares (aggregating up to ₹2,106.60 Cr)
• Offer for Sale: 702,199,262 shares (aggregating up to ₹2,106.60 Cr)
• Employee Discount: ₹2 per share
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Managers: ICICI Securities Limited, IIFL Securities Ltd, Jefferies India Private Limited and J.P. Morgan India Private Limited
• Registrar: Link Intime India Private Ltd