Sagility India IPO
- IPO Date05 Nov, 2024 to 07 Nov, 2024
- Listing Date12 Nov, 2024
- Face Value₹10 per share
- Issue Price₹28 to ₹30 per share
- Lot Size500 Shares
- Minimum Investment₹15,000
- Listing AtBSE, NSE
- Total Issue Size70,21,99,262 Shares
(aggregating up to ₹2106.60 Cr) - Fresh Issue-
- Offer for Sale70,21,99,262 Shares
(aggregating up to ₹2106.60 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue4,68,13,28,413
- Shareholding post issue4,68,13,28,413
IPO Dates
Closing Date
07 Nov, 2024
Initiation of Refunds
11 Nov, 2024
Listing Date
12 Nov, 2024
05 Nov, 2024
Opening Date
08 Nov, 2024
Basis of Allotment
11 Nov, 2024
Credit of Shares
Sagility India Lot Size
Investors can bid for a minimum of 500 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Min) | 14 | 7000 | ₹2,10,000 |
| Retail (Min) | 1 | 500 | ₹15,000 |
| B-HNI (Min) | 67 | 33500 | ₹10,05,000 |
| S-HNI (Max) | 66 | 33000 | ₹9,90,000 |
| Retail (Max) | 13 | 6500 | ₹1,95,000 |
Sagility India Promoter Holding
Sagility B.V. and Sagility Holdings B.V. are the company's promoters.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | - |
Sagility India COMPANY INFORMATION
Sagility India IPO opens for subscription on November 5, 2024 and closes on November 7, 2024. The allotment for the Sagility India IPO is expected to be finalized on Friday, November 8, 2024. Sagility India IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, November 12, 2024. Sagility India IPO price band is set at ₹28 to ₹30 per share. The minimum lot size for an application is 500 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (7,000 shares), amounting to ₹210,000, and for bNII, it is 67 lots (33,500 shares), amounting to ₹1,005,000. The issue includes a reservation of up to 1,900,000 shares for employees offered at a discount of Rs 2 to the issue price. ICICI Securities Limited, Iifl Securities Ltd, Jefferies India Private Limited and J.P. Morgan India Private Limited are the book running lead managers of the Sagility India IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Sagility India IPO RHP for detailed information.
Sagility India Limited, formerly known as Berkmeer India Private Limited, provides healthcare-focused solutions and services to Payers (US health insurers who fund and reimburse the cost of healthcare services) and Providers (primarily hospitals, physicians, diagnostics and medical technology companies).
The company supports the core business of both payers and providers. Services to payers span their entire operational spectrum, including centralized claims administration and clinical services functions. These include claims administration, payment integrity, clinical management and other services. For providers, the company offers revenue cycle management services to assist them in managing their billing and claiming treatment costs from payers. In addition, the Company also offers some of the services it provides to Payers to Pharmacy Benefit Managers (“PBMs”) who manage prescription drug coverage for members (i.e., insureds) under health benefit plans.
The company's customers are all based in the USA. As of March 31, 2024, the Company's five largest customer groups (i.e. the customer companies together with their subsidiaries) had an average tenure of service of 17 years. In January 2024, the company served five of the ten largest payers in the US (source: Everest Report). In addition, the company acquired 20 new customers in the financial years 2024 and 2023.
As of March 31, 2024, Sagility India had 35,044 employees, of which 60.52% were women. As of March 31, 2024, 1,687 of the employees held certifications, including 374 certified medical coders, 1,280 registered nurses in the US, Philippines and India, and 33 employees with other degrees such as dentistry, surgery and pharmacy.
Sagility India Limited IPO
IPO Overview and Key Highlights
Sagility India Limited, a provider in the healthcare and technology services space, is launching its Initial Public Offering (IPO), which includes an Offer for Sale (OFS) of up to 702,199,262 equity shares with a face value of ?10 each by Sagility B.V.. The IPO proceeds are for the selling shareholder, with no fresh issue, allowing investors to gain exposure to a growing healthcare services provider. The shares will be listed on both NSE and BSE?
Key IPO Details
- Type of Issue: 100% Book Built
- Offer for Sale (OFS): 702,199,262 Equity Shares
- Face Value: ?10 per share
- Listing Exchange: NSE and BSE
- Offer Opens: November 5, 2024
- Offer Closes: November 7, 2024?.
Company Overview
Sagility India Limited, headquartered in Bengaluru, specializes in healthcare management and technology services. Its services include care management, data analytics, revenue cycle management, and payment integrity solutions for clients in the healthcare sector. Originally known as Berkmeer India Private Limited, the company was renamed in 2022 and has grown under the guidance of its promoters, Sagility B.V. and Sagility Holdings B.V.?.
Financial Overview
Sagility India has experienced growth driven by the healthcare sector's digital transformation and demand for data-driven services. The IPO proceeds from the OFS will go to the promoter, with no direct impact on the company's capital structure.
Key Strengths of Sagility India Limited
- Experienced Promoters: Backed by Sagility B.V. and Sagility Holdings B.V., the company benefits from a strong support system and expertise in healthcare technology.
- Comprehensive Service Offerings: Sagility’s range of healthcare services across analytics, care management, and revenue cycle positions it as a valuable partner in the healthcare sector.
- Scalable Business Model: Sagility’s focus on technology allows it to scale its operations efficiently?.
IPO Pros and Cons
Pros
- Healthcare Sector Growth: Increasing focus on healthcare technology and data management is driving demand for Sagility’s services.
- Established Client Base: Sagility has a growing number of clients in the healthcare industry, ensuring stable revenue.
- Technology-Driven: The company’s reliance on tech solutions offers a competitive edge.
Cons
- No Fresh Issue: Since this IPO is purely an OFS, the proceeds do not directly benefit Sagility India’s expansion.
- First Public Issue: As Sagility’s first IPO, there is some uncertainty regarding its stock performance post-listing.
- Dependence on Healthcare Sector: The company’s revenues are heavily tied to healthcare, making it vulnerable to sector-specific changes?.
H2: Risk Factors
Potential investors should consider several risks:
- Sectoral Dependency: The company’s success is highly dependent on the healthcare sector’s performance and regulatory changes.
- Market Competition: Sagility faces competition from established healthcare service providers, which could impact growth.
- Economic and Policy Risks: Any changes in healthcare regulations or data privacy laws may impact Sagility’s business model?.
Conclusion
The Sagility India Limited IPO offers investors exposure to a promising healthcare technology provider with a growing client base and strong technological capabilities. However, with this being an Offer for Sale, potential investors should assess the risks related to healthcare dependency, regulatory challenges, and market competition before investing.
FAQs About Sagility India Ipo
Sagility India IPO will open on 05 Nov, 2024 and close on 07 Nov, 2024. Investors must apply within this period to participate.
The Sagility India IPO price band is set between ₹28.00 and ₹30.00 per share. The minimum lot size is 500, requiring an investment of at least ₹15000.00.
The Sagility India IPO shares are expected to be listed on 12 Nov, 2024, subject to regulatory approvals and final allotment.
You can track your Sagility India IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Sagility India IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.