Sagility India IPO: The equity shares of healthcare services provider Sagility India Ltd are set to make their stock market debut today. The initial public offering (IPO) of Sagility India Ltd received decent subscription during its bidding period. Sagility India IPO listing date is today, November 12.
The public offer was open for subscription from November 5 to 7 and the IPO allotment date was November 9. Sagility India IPO listing date has been fixed today, November 12, Tuesday.
“Trading Members of the Exchange are hereby informed that effective from Tuesday, November 12, 2024, the equity shares of Sagility India Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” said a notice on BSE.
Sagility India shares will be a part of a Special Pre-open Session (SPOS) on Tuesday, November 12, the notice added, and the shares will be available for trading from 10:00 AM.
Sagility India shares will be listed on both the stock exchanges, BSE and NSE.
Ahead of the Sagility India share listing today, investors look for the Sagility India IPO grey market premium (GMP) to gauge the listing price. The trends in the grey market and stock market analysts signal a muted listing for Sagility India shares.
Sagility India shares are showing muted trends in the unlisted market. According to stock market experts, Sagility India IPO GMP today is ₹0 per share. This shows that Sagility India shares are trading at par with their issue price in the grey market, which is without any premium or discount to the IPO price.
Considering the Sagility India IPO GMP today, the equity shares of Sagility India are expected to make a flat debut, with an estimated listing price of ₹30 per share, which is equal to its IPO price of ₹30 per share.
Analysts also expect Sagility India share listing today to be flat.
“Sagility India Ltd. is all set to make its debut in the bourses today. The issue garnered decent demand during its subscription period, being oversubscribed by over three times. We expect the issue to open at par with its upper price band. The muted debut could be driven by lower investor confidence due to the dampening in the IPO market after a long time (a few previous IPO listed for discount),” said Prathamesh Masdekar, Research Analyst, StoxBox.
Financially, the company’s revenue from operations grew by 9.6% to ₹1,223 crore for the quarter ended June 30, 2024, from ₹1,116 crore for the quarter that ended June 30, 2023, and by 12.69% to ₹4,753 crore in FY24 from ₹4,218.4 crores in FY23.
“We thus remain positive on the growth prospects of the company. Hence, we suggest investors allotted with the issue remain invested from a medium-term perspective. We will continue to track the operations and financials of the company and review our rating accordingly,” Masdekar said.
The bidding for Sagility India IPO commenced on Tuesday, November 5, and concluded on Thursday, November 7. The IPO allotment was finalized on Friday, November 8, and Sagility India IPO listing date is today, November 12. Sagility India shares will be listed on BSE and NSE.
Sagility India IPO price band was ₹28 to ₹30 per share, and at the upper-end of the price band, the company raised ₹2,106.60 crore from the book-built issue which was entirely an offer-for-sale (OFS) of 70.22 crore equity share.
As per NSE data, Sagility India IPO was subscribed 3.20 times in total. The public issue was subscribed 4.16 times in the Retail category, 3.52 times in the Qualified Institutional Buyers (QIBs) category, and 1.93 times in the Non Institutional Investors (NII) category.
ICICI Securities, IIFL Securities, Jefferies India and JP Morgan India are the book running lead managers of the Sagility India IPO, while Link Intime India Private Ltd is the IPO registrar.
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