Sagility India Ltd shares will be listed on the exchanges on November 12, Tuesday after the issue was subscribed 3.2 times in the primary market. The issue had a price band of Rs 28-30 per share.
Prathamesh Masdekar, Research Analyst at StoxBox sees a subdued stock market debut for the shares of the company, with a projected premium of around 1 percent above the upper price band.
"We believe that Sagility India Ltd presents an investment opportunity from a medium—to long-term perspective. Therefore, we suggest that investors who have received shares consider maintaining their positions with this outlook in mind," added Masdekar.
Sagility India is a technology-enabled pure-play healthcare-focused solutions and services provider to Payers (US health insurance companies that finance and reimburse the cost of health services) and Providers (primarily hospitals, physicians, and diagnostic and medical devices companies).
The company was incorporated in July 2021, and it acquired the healthcare services business of the predecessor company - Hinduja Global Solutions, in January 2022.
Sagility India IPO allotment status: How to check details online via registrar, BSE
Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers echoed similar comments saying "considering the market sentiments, we believe that the listing of the IPO might be flat. However, we believe that the expected listing is justified considering the business model, financial position with no peer-to-peer listed competitors."
The company is leader in the large and resilient U.S. Payer and Provider solutions market. At the upper price band, company is valued at P/E of 61.4x post issue.
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