Sagility India IPO Overview
The Sagility India IPO is a book-built issue valued at ₹2,106.60 crores, consisting entirely of an offer for sale of 70.22 crore shares. This IPO opens for subscription on November 5, 2024, and will close on November 7, 2024.
Investors can expect the allotment results to be finalized by November 8, 2024, with the stock listing on both BSE and NSE scheduled for November 12, 2024. The price band for the Sagility India IPO is set between ₹28 to ₹30 per share.
Retail investors must apply for a minimum of 500 shares, requiring a minimum investment of ₹15,000. For small and medium investors (sNII), the minimum lot size is 14 lots (7,000 shares) for a total investment of ₹210,000, while large investors (bNII) need to apply for 67 lots (33,500 shares), amounting to ₹1,005,000.
Additionally, the issue includes a reservation of up to 1,900,000 shares for employees, offered at a discounted rate of ₹2 per share compared to the issue price.
The book running lead managers for the Sagility India IPO are ICICI Securities Limited, Iifl Securities Ltd, Jefferies India Private Limited, and J.P. Morgan India Private Limited, while Link Intime India Private Ltd serves as the registrar for the issue. For detailed information, please refer to the Sagility India IPO RHP.
Sagility India IPO Important dates
Sagility India IPO opens on November 5, 2024, and closes on November 7, 2024.
| IPO Open Date | Tuesday, November 5, 2024 |
| IPO Close Date | Thursday, November 7, 2024 |
| Basis of Allotment | Friday, November 8, 2024 |
| Initiation of Refunds | Friday, November 8, 2024 |
| Credit of Shares to Demat | Monday, November 11, 2024 |
| Listing Date | Tuesday, November 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 7, 2024 |
Sagility India IPO Financial Performance
Sagility India Limited’s revenue increased by 13% and profit after tax (PAT) rose by 59% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 10,388.01 | 10,664.2 | 10,590.48 | 10,096.28 |
| Revenue | 1,247.76 | 4,781.5 | 4,236.06 | 944.39 |
| Profit After Tax | 22.29 | 228.27 | 143.57 | -4.67 |
| Net Worth | 7,608.16 | 6,443.13 | 6,206.67 | 4,026.62 |
| Reserves and Surplus | 2,704.28 | 1,855.44 | 4,013.38 | 2,073.8 |
| Total Borrowing | 943.91 | 1,933.52 | 2,347.94 | 4,239.23 |
Sagility India IPO Key Performance Indicator
The market capitalization of Sagility India IPO is Rs 14043.99 Cr.
KPI as of June 30, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 0.15 |
| RoNW | 0.29 |
| P/BV | 2 |
| PAT Margin (%) | 11.83 |
|
Post IPO | ||
|---|---|---|---|
| EPS (Rs) | 0.49 | 0.49 | |
| P/E (x) | 61.52 | 61.52 |
Sagility India IPO Objectives
The objectives of the Offer are to:
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges, and
- Carry out the Offer for Sale of up to 702,199,262 Equity Shares of the face value of Rs. 10 each by the Promoter Selling Shareholder.
Sagility India IPO 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 |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹15,000 |
| Retail (Max) | 13 | 6500 | ₹195,000 |
| S-HNI (Min) | 14 | 7,000 | ₹210,000 |
| S-HNI (Max) | 66 | 33,000 | ₹990,000 |
| B-HNI (Min) | 67 | 33,500 | ₹1,005,000 |
Sagility India IPO Details
| IPO Date | November 5, 2024 to November 7, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹28 to ₹30 per share |
| Lot Size | 500 Shares |
| Total Issue Size | 702,199,262 shares (aggregating up to ₹2,106.60 Cr) |
| Offer for Sale | 702,199,262 shares of ₹10 (aggregating up to ₹2,106.60 Cr) |
| Employee Discount | Rs 2 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 4,681,328,413 |
| Share holding post issue | 4,681,328,413 |
Sagility India IPO Company Overview and Services
Sagility India Limited, previously known as Berkmeer India Private Limited, specializes in providing healthcare-focused solutions and services tailored for Payers and Providers in the United States. Payers include health insurers who finance and reimburse healthcare services, while Providers mainly consist of hospitals, physicians, and medical technology companies.
The company plays a vital role in supporting the core operations of both payers and providers. For payers, Sagility offers a comprehensive suite of services, including centralized claims administration, payment integrity, and clinical management. These services span the entire operational spectrum, ensuring efficient handling of claims and clinical functions.
On the other hand, Sagility provides revenue cycle management services to help providers effectively manage their billing processes and claim treatment costs from payers. Additionally, the company extends some of its payer services to Pharmacy Benefit Managers (PBMs), who oversee prescription drug coverage for insured members under health benefit plans.
All of Sagility’s customers are based in the USA, and as of March 31, 2024, the company enjoyed a long-standing relationship with its five largest customer groups, boasting an average service tenure of 17 years. Notably, in January 2024, Sagility was serving five of the ten largest payers in the U.S., according to the Everest Report. Furthermore, the company successfully acquired 20 new customers in the fiscal years 2023 and 2024.
As of March 31, 2024, Sagility India employed 35,044 individuals, with women making up 60.52% of the workforce. Among its employees, 1,687 held professional certifications, including 374 certified medical coders and 1,280 registered nurses across the U.S., Philippines, and India. Additionally, 33 employees possessed degrees in various fields, including dentistry, surgery, and pharmacy.
Sagility India IPO SWOT Analysis
Strengths
- Established Client Base: Sagility serves five of the ten largest payers in the U.S., showcasing its strong market position and credibility within the healthcare industry.
- Diverse Service Offerings: The company provides a comprehensive range of services to both payers and providers, including claims administration, clinical management, and revenue cycle management, catering to a broad spectrum of healthcare needs.
- Long-standing Relationships: With an average service tenure of 17 years for its top customers, Sagility has demonstrated its ability to maintain strong and lasting client relationships.
- Significant Workforce: The company boasts a large and diverse workforce, including a substantial percentage of certified professionals, which enhances its operational capabilities and service quality.
- Acquisition of New Clients: The addition of 20 new customers in the last two fiscal years indicates a positive growth trajectory and expanding market reach.
Weaknesses
- Dependence on the U.S. Market: Sagility’s customer base is exclusively located in the U.S., making it vulnerable to market fluctuations and regulatory changes within the U.S. healthcare system.
- Limited Brand Recognition: As a lesser-known entity compared to larger players in the market, Sagility may face challenges in brand recognition and competition.
- High Operational Costs: The extensive services provided may lead to high operational costs, impacting profit margins if not managed efficiently.
Opportunities
- Market Growth: The demand for healthcare solutions is increasing, especially in the context of a growing focus on digital health and improved healthcare delivery models.
- Expansion Potential: There is an opportunity to diversify its client base beyond the U.S. market or into related healthcare sectors, enhancing revenue streams.
- Technological Advancements: Investing in technology and innovation can improve operational efficiency and service offerings, helping Sagility to stay competitive.
- Increased Healthcare Spending: The ongoing increase in healthcare spending in the U.S. could lead to greater demand for Sagility’s services.
Threats
- Intense Competition: The healthcare solutions market is highly competitive, with numerous established players that may challenge Sagility’s market share and pricing strategies.
- Regulatory Challenges: Changes in healthcare regulations or policies in the U.S. could impact operations, compliance costs, and service delivery.
- Economic Uncertainty: Economic downturns or uncertainties in the U.S. could lead to reduced spending by payers and providers, affecting Sagility’s revenues.
- Talent Retention: Maintaining a skilled workforce is crucial for service delivery; any challenges in talent retention could impact operational effectiveness and client satisfaction.
Sagility India IPO GMP Details
Sagility India IPO last GMP is ₹3, last updated Nov 4th 2024. With the price band of 30.00, Sagility India IPO’s estimated listing price is ₹33 (cap price + today’s GMP).The expected percentage gain/loss per share is 10.00%
The lowest GMP is ₹0, while the highest GMP is ₹3. Stay with us to know the daily price trend of Sagility India IPO GMP with expected listing price.
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 07-11-2024 Close | 30.00 | ₹0.50  |
200/2800 | ₹30.5 (1.67%) | 7-Nov-2024 |
| 06-11-2024 | 30.00 | ₹0.50  |
200/2800 | ₹30.5 (1.67%) | 6-Nov-2024 |
| 05-11-2024 Open | 30.00 | ₹0 |
— | ₹30 (0%) | 5-Nov-2024 |
| 04-11-2024 | 30.00 | ₹0  |
— | ₹30 (0%) | 4-Nov-2024 |
| 03-11-2024 | 30.00 | ₹3 |
1100/15400 | ₹33 (10%) | 3-Nov-2024 |
| 02-11-2024 | 30.00 | ₹3 |
1100/15400 | ₹33 (10%) | 2-Nov-2024 |
What is IPO GMP?
The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.
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Sagility India IPO subscription status
Sagility India IPO subscribed 0.52 times. The public issue subscribed 2.26 times in the retail category, 0.07 times in QIB, and 0.24 times in the NII category by November 6, 2024 (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares Bid for | Total Amount (Rs Cr.)* |
|---|---|---|---|---|
| Qualified Institutions | 0.07 | 210,089,779 | 1,44,19,000 | 43.26 |
| Non-Institutional Buyers | 0.24 | 105,044,889 | 2,54,24,500 | 76.27 |
| bNII (bids above ₹10L) | 0.16 | 70,029,926 | 1,14,27,000 | 34.28 |
| sNII (bids below ₹10L) | 0.40 | 35,014,963 | 1,39,97,500 | 41.99 |
| Retail Investors | 2.26 | 70,029,926 | 15,85,58,000 | 475.67 |
| Employees | 2.47 | 1,900,000 | 46,94,000 | 14.08 |
| Others | [.] | 0 | 0 | 0 |
| Total | 0.52 | 387,064,594 | 20,30,95,500 | 609.29 |
Total Application : 259,893 (1.86 times)
Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.
Sagility India IPO (Day-wise) Subscription Details (times)
| Date | QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|---|
| Day 1 November 5, 2024 |
0.00 | 0.08 | 1.14 | 1.43 | 0.23 |
| Day 2 November 6, 2024 |
0.07 | 0.24 | 2.26 | 2.47 | 0.52 |
Sagility India IPO Allotment status
The allotment status of Sagility India IPO is expected to be available on November 8, 2024.
Sagility India IPO allotment status is not available at this time. Sagility India IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Sagility India Limited IPO allotment status.
To check Sagility India IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
On securing the allotment, you will receive the credit of equivalent shares in your Demat account.
If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to sagility.ipo@linkintime.co.in.
Sagility India IPO Registrar
Phone: +91-22-4918 6270
Email: sagility.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Sagility India IPO Contact Details
Sagility India Limited
No. 23 & 24, AMR Tech Park,
Building 2A, First Floor, Hongasandara Village,
Off Hosur Road, Bommanahalli, Bengaluru – 560 068
Phone: +91- 80-7125 150
Email: investorservice@sagilityhealth.com
Website: http://www.sagilityhealth.com/
Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.
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