Sagility IPO: Sagility India's public issue was oversubscribed 3.2 times on the final day. Retail investors lead the bidding round on the final bidding day of the public issue as the segment gets overbooked 4.07 times on Thursday, November 7.
Further, the Non-Institutional Investors (NIIs) oversubscribed to the public offer 1.92 times. NIIs placed their bids for 20.15 crore shares, compared to the 10.50 crore shares on offer. And Qualified Institutional Buyers (QIBs) followed the retail investor's lead as the segment was oversubscribed 3.52 times on the final day of bidding. QIBs have bid for 73.86 crore shares, while the offer was for 21 crore shares.
Notably, the Sagility India IPO bidding started from November 5-7, the allotment was finalised on November 8, and the IPO will likely list on BSE, NSE on November 12, 2024.
The initial public offer of Sagility IPO has been subscribed 3.20 times on the last day of subscription today, as per BSE data.
The initial share sale received bid for 1,23,99,75,500 shares against 38,70,64,594 shares on offer, according to BSE.
The portion for retail investors received 4.16 times subscription while the quota for non-institutional investors got subscribed 1.93 times. The QIBs part is booked 3.52 times. The employee portion has been subscribed 3.75 times.
The IPO from the Bengaluru-based company consists solely of an offer for sale of 70.22 crore shares valued at ₹2,106.60 crore at the highest end of the price range. Promoter Sagility BV is divesting its shareholding through this OFS.
Sagility IPO has reserved not less than 75 per cent of the shares in the public issue for QIBs, not more than 15 per cent for NIIs, and not more than 10 per cent of the offer is reserved for retail investors. Employee portion has been reserved up to 1,900,000 equity shares.
Sagility India, which was previously called Berkmeer India, delivers solutions and services centered on healthcare for both Payers (US health insurers responsible for funding and reimbursing healthcare costs) and Providers (mainly hospitals, physicians, diagnostic services, and medical technology firms).
The complete amount raised from the public offering will be directed to the selling shareholders.
The book running lead managers for the Sagility India IPO include ICICI Securities, Iifl Securities, Jefferies India, and JP Morgan India, whereas Link Intime serves as the registrar for the offering.
Sagility India IPO GMP on November 7 was +0.50. This indicates Sagility India share price was trading at a premium of ₹0.50 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sagility India share price is indicated at ₹30.5 apiece, which is 1.67 per cent higher than the IPO price of ₹30.
According to the grey market activities over the past 10 sessions, the present GMP ( ₹0.50) indicates a downward trend. The minimum GMP recorded is ₹0, while the maximum GMP reached is ₹3, as per the insights from investorgain experts.
‘Grey market premium’ indicates investors' readiness to pay more than the issue price.
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