Sagility India IPO opens tomorrow: Price band, GMP, dates among 10 things to know before subscription

Sagility India Limited's initial public offering (IPO) will open for public bidding on Tuesday, November 5, and will close on Thursday, November 7. The Indian arm of Sagility has fixed the price band at ₹28 to ₹30 per share. 

The healthcare-centric service provider focuses on the US health insurance companies (Payers) for financing and reimbursing the cost of health services. The company also caters to providers like hospitals, physicians, and diagnostic and medical device companies.

Sagility India IPO — 10 things to know as an investor
 

1. Sagility India IPO Issue Size: The Bengaluru-based healthcare service provider aims to raise ₹2,106.60 crore through an offer-for-sale (OFS) of equity shares with a face value of ₹10 per share.

2. Sagility India IPO Issue Date: The initial public offering will open for public subscription on Tuesday, November 5 and will close on Thursday, November 7. 

3. Sagility India IPO Price Band: The company fixed its price band at ₹28 to ₹30 per equity share.

4. Sagility India IPO Listing Date: The initial public offering is tentatively expected to be listed on the BSE and NSE stock exchanges on Tuesday, November 12.

5. Sagility India IPO Anchor Round: The anchor round for the public issue is set to be held on Monday, November 4.

6. Sagility India IPO Basis of Allotment: The offer for public issues comprises an offer-for-sale (OFS) component for 70.22 crore equity shares. This whole equity share segment will be offered by its Netherland-based promoter, Sagility BV.

7. Sagility India IPO Reservation: According to the company's red herring prospectus, up to 75 per cent of the net offer will be allocated to Qualified Institutional Buyers (QIB) on a proportional basis. Out of which, the company may allocate up to 60 per cent of the QIB portion to the anchor investors. 

Further, 5 per cent of the Net QIB portion will be available for allocation to mutual funds. Not more than 15 per cent of the net offer will be for the Non-Institutional Investors (NII) and 10 per cent for the retail investors. 

8. Sagility India IPO Proceeds: The proceeds from the public offer will go to the promoter selling shareholding, i.e. Sagility BV, and the company will not get any money raised from the public issue.

9. Sagility India IPO GMP: As of November 4, the grey market premium (GMP) for the IPO fell to ₹0 from ₹3 a day before. With the upper price band at ₹30, the percentage gain or loss is expected to be 0 per cent, and the public issue is estimated to be listed at ₹30, according to Investorgain.com.

Grey market premium is the willingness of an investor to pay more for a public issue.

10. Sagility India IPO's Merchant Banker and Registrar: ICICI Securities, IIFL Securities, Jefferies India Private Limited and J.P. Morgan India Private Limited are the book-runners. At the same time, Link Intime India is the registrar of the public issue.