Sagility India IPO day 2: GMP, subscription status, review, other details. Apply or not?

Sagility India IPO: The initial public offering (IPO) of Sagility India Limited hit the Indian primary market on 5th November 2024. Bidding for the Sagility India IPO will remain open until 7th November 2024. This means Sagility India IPO subscription will remain open from Tuesday to Thursday this week. The healthcare solution provider company has fixed Sagility India IPO price band at ₹28 to ₹30 apiece. The company aims to raise ₹2,106.60 crore from this initial offer, which is entirely an offer for sale (OFS). Meanwhile, company shares are available in the grey market ahead of the Sagility India IPO subscription opening date. According to stock market observers, Sagility India shares are trading at a premium of ₹3 in the grey market today. 

Sagility India IPO subscription status

By 2:18 PM on day 2 of bidding, the public issue was booked 0.40 times, the retail portion of the book build issue was subscribed 1.94 times, and the NII portion was subscribed 0.15 times.

Sagility India IPO details

1] Sagility India IPO GMP: According to stock market observers, the company's shares are trading at a premium of ₹3 in the grey market today.

2] Sagility India IPO price: The healthcare solution provider company has fixed price band of the public issue at ₹28 to ₹30.

3] Sagility India IPO date: Bidding for the public issue will remain open from 5th to 7th November 2024.

4] Sagility India IPO size: The company aims to raise ₹2,106.60 crore from this initial offer, which is entirely an OFS. This means the net proceeds of the public issue will go into the pockets of the promoters selling their stake in the company.

5] Sagility India IPO lot size: A bidder can apply in lots, and one lot of the book build issue compares 500 company shares.

6] Sagility India IPO allotment date: The most likely date for share allotment is Friday, November 8th, 2024.

7] Sagility India IPO registrar: Link Intime India Private Limited has been appointed official registrar of the book build issue.

8] Sagility India IPO listing date: The book build issue is proposed for listing on the BSE and the NSE. The most likely date for share listing is 12th November 2024.

9] Sagility India IPO lead managers: ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India have been appointed Lead Managers of the public issue.

Sagility India IPO: Apply or not?

10] Sagility India IPO review: Assigning a 'subscribe' tag to the book build issue, Prathamesh Masdekar, Research Analyst at StoxBox, said, "The issue is valued at a P/E of 56.6x on the upper price band based on FY24 earnings, which is deemed fair. Therefore, we recommend a “SUBSCRIBE” rating for the issue."

Master Capital has also assigned a 'buy' tag to the public issue, saying, "The healthcare operations spend in the US has grown at a CAGR of approximately 3.2% from 2014 to 2023 and was valued at approximately US$201.1 billion ( ₹16.8 trillion) in 2023. This spend is expected to grow at a CAGR of approximately 5.2% to reach approximately US$258.9 billion ( ₹21.6 trillion) in 2028, driven by the rise in the ageing population, increasing prevalence of chronic diseases, and various governmental initiatives aimed at enhancing healthcare services, among other factors. Complex services, stringent compliance requirements, intricate performance measures, and multifaceted payment workflows characterize the U.S. healthcare industry. These challenges necessitate the involvement of specialized service providers with the expertise to navigate and manage these complexities effectively. Sagility India Limited is one of the leading tech-enabled healthcare specialists with comprehensive coverage across healthcare payer and provider markets. The company's deep, long-term, expanding client relationships across healthcare payers and providers assist in high client stickiness and retention. Investors interested in the company can invest in the IPO for the long term."

In addition to these, BP Equities, Marwadi Shares and Finance, and Ventura Securities have also assigned the public issue a 'subscribe' tag.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.