The initial public offering (IPO) of Sagility India, a healthcare technology-enabled services provider, was subscribed over three times by the third day of bidding, November 7. The offering received bids for over 123 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 4.2 times. Non-institutional investors (NIIs) subscribed nearly two times their allocation, while qualified institutional buyers (QIBs) portion were subscribed 3.5 times. The employee reserved category saw 3.8 times subscriptions.
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 today, 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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