Upcoming IPO: Sagility India's initial public offer (IPO) is slated to open next week in the price band of ₹28 to ₹30 per share. The IPO will open for subscription on November 5 and close on November 7.
The company is looking to raise ₹2,106.60 at the upper price band of the issue. The floor and cap prices for Sagility India IPO are 2.80 times and 3 times the face value of ₹10 per share.
Sagility India IPO is entirely an offer for sale (OFS) of 70.22 crore shares, wherein promoter Sagility B.V. is selling the stake.
The anchor allotment for Sagility India IPO will open on Monday, November 4. Meanwhile, the basis of allotment is likely to be finalised on Friday, November 8 with credit of shares expected to happen on the same day. The shares will likely list on BSE and NSE on Tuesday, November 12.
Investors can bid for a minimum lot of 500 equity shares and in multiples thereafter. The company is offering a discount of ₹2 per share to eligible employees bidding in the employee reservation portion.
In the IPO, not less than 75 per cent of the net offer is reserved for qualified institutional buyers (QIBs), not more than 15 per cent of the offer is allocated to non-institutional investors (NIIs) and not more than 10 per cent is reserved for retail investors. Up to 19,00,000 shares are reserved for the employees of the company.
In the grey market, the company is not witnessing any activity as of yet.
The company provides technology-enabled business solutions and services to clients in the U.S. healthcare industry. It is a pure-play healthcare-focused services provider, and its clients include Payers (U.S. health insurance companies, which finance and reimburse the cost of health services) and Providers (primarily hospitals, physicians, and diagnostic and medical devices companies).
ICICI Securities, IIFL Securities, Jefferies India Private Limited and J.P. Morgan India Private Limited are the book-running lead managers while Link Intime India is the registrar to the issue.
