Sagility India Shares close below issue price

13 Nov 2024 , 09:23 AM

Sagility India Ltd.’s shares were listed on the BSE on Tuesday and close for Rs 29.5 each, which was 1.6% less than the issue price of Rs 30 each.

On the last day of bidding, which was dominated by retail buyers, Sagility India’s IPO was subscribed for 3.2 times.

Demand was 3.52 times for the QIB category, 4.16 times for the retail category, 1.93 times for the NII category, and 3.75 times for the employee-only component.

An offer for sale is what the entire IPO is. A price range of Rs 28-30 per share was established. A minimum of 500 shares was required for each application lot. Prior to its IPO, the business raised Rs 945.4 crore from anchor investors. At Rs 30 each, it distributed 31.51 crore shares to 52 anchor investors.

Sagility India Ltd. offers payers and healthcare providers commercial services and solutions. According to managing director and group chief executive officer Ramesh Gopalan, the majority of payers are insurance firms.

The US healthcare sector is particularly appealing because it is a huge industry with a GDP of over $4.7 trillion, which is more than India’s. In the vast market, Sagility remains a modest company. As a result, it currently has no plans to grow outside of the US.

For feedback and suggestions, write to us at [e-mail]