Sagility India IPO - Day 1 Subscription at 0.19 Times

Sagility India's initial public offering (IPO) has received moderate investor interest on its opening day. The IPO witnessed cautious demand, resulting in a 0.19 times subscription by 3:03:11 PM on day one. This initial response indicates measured investor sentiment towards Sagility India's shares at the start of the subscription period.

Sagility India IPO, which opened on 5th November 2024, has seen varied participation across categories. The Employee segment and Retail Investors have shown relatively better interest, while Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) have shown limited participation in the initial hours.

This measured response to Sagility India's IPO comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the healthcare technology sector. The company's position as a provider of healthcare-focused solutions to US-based payers and providers appears to have attracted initial cautious investor interest.

Subscription Status of Sagility India IPO for Day 1:

Here are the subscription details for Sagility India IPO as of Day 1 (5th November 2024, 3:03:11 PM):

Total Applications: 1,11,513

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Currently, overall subscription reached 0.19 times on Day 1.
• Employees have shown strong interest in subscriptions of 1.18 times, leading all categories.
• Retail investors demonstrated an encouraging response with 0.93 times subscription.
• Small Non-Institutional Investors (sNII) showed moderate interest with 0.11 times subscription.
• Large non-institutional investors (bNII) showed limited interest, with a subscription of 0.03 times.
• Qualified Institutional Buyers (QIB) are yet to show participation.
• Total applications reached 1,11,513, indicating steady initial investor participation.
• The subscription trend reflects mixed responses across investor categories on opening day.

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