Sagility India Shares Records 3.5% Premium on IPO The shares were listed at INR 31.06, which is a premium of over 3.5 per cent over the issue price of INR 30, with a subscription of over 3 times.
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Sagility India, the technology-enabled service provider for the healthcare sector made its market debut today on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE)
The shares were listed at INR 31.06, which is a premium of over 3.5 per cent over the issue price of INR 30, with a subscription of over 3 times.
The proceeds from the full offer-for-sale (OFS) IPO valued at INR 2,106 crore from the 70.22 crore shares by the promoter, will be diverted to the selling shareholder, excluding the expenses.
Sagility's employees will be given a reservation of 19 lakh shares at a discount of INR 2 on the final price. 75 per cent of the shares will be reserved for qualified institutional buyers (QIBs) with 15 per cent for non-institutional investors, and 10% for retail investors.
According to Sagility India's books, the company reported a 47.5 per cent decline in profit to INR 22.3 crore for the quarter ending June 2024, mostly due to lower operating margins and higher taxes. Overall revenue rose by 9.6 per cent to INR1,223.3 crore, however, EBITDA decreased by 26.4 per cent to INR 193.9 crore.
ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India acted as the lead managers for the IPO.
