Sagility India IPO sees 52% subscription by Day 2, retail investors drive demand

On November 4, Sagility India mobilised over Rs 945 crore from anchor investors.

The initial public offering (IPO) of Sagility India, a healthcare technology-enabled services provider, attracted 52 percent subscription on the second day of bidding, November 6. The offering received bids for more than 20 crore shares against 38.7 crore shares available, according to data from the NSE.

In investor categories, retail individual investors (RIIs) were the most active, with their portion subscribed 2.24 times. Non-institutional investors (NIIs) subscribed 24 percent of their allocation, while qualified institutional buyers (QIBs) bid for 1.44 crore shares of the 21 crore shares available. The employee reserved category saw 2.44 times subscription.

Sagility India's IPO, valued at Rs 2,106.60 crore, is entirely an offer for sale of 70.22 crore shares. The bidding period opened on November 5 and will close on November 7, with the IPO listing expected on BSE and NSE on November 12. The price band is set at Rs 28-Rs 30 per share, and the minimum investment for retail investors is Rs 15,000 for 500 shares.

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On November 4, Sagility India mobilised over Rs 945 crore from anchor investors.

The issue's primary goals include achieving listing benefits and facilitating the promoter's sale of up to 70.22 crore equity shares.

ICICI Securities, IIFL Securities, Jefferies India, and J.P. Morgan India are the lead managers, while Link Intime India handles registry services.

Sagility India, formerly known as Berkmeer India Private Limited, specialises in healthcare solutions for US insurers and healthcare providers.

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