Sagility India IPO to open on Nov 5-7; Price band fixed ₹28-30 apiece

30 Oct 2024 , 09:47 AM

The initial public offer (IPO) of Sagility India, backed by EQT Private Capital will open for its subscription on November 5 to November 7. The company has fixed the price band at ₹28-30 per share. Investors can bid for minimum 500 shares in a lot and its multiples thereof.

The anchor book will open on November 4.

Company’s ₹2106.60 crore initial public offer will finalise the share allotment on November 8 and the listing will take place on November 12, 2024.

The company has allocated 75% of total issue size to qualified institutional investors, 15% for non-institutional investors and rest 10% for retail investors. The company has also reserved 19 lakh shares for its employees.

As per the company’s RHP, the issue is fully an offer-for-sale of 70.22 crore equity shares by promoter Sagility B V. It does not comprises any component of fresh issue.

Sagility India IPO will be managed by ICICI Securities, IIFL Capital Services, Jefferies India, and JP Morgan. Link Intime India is appointed as the registrar for the issue.

Sagility India Limited, previously known as Berkmeer India Private Limited, specializes in delivering healthcare-focused solutions to both payers and providers in the U.S. healthcare sector. For U.S. health insurers, or payers, who cover and reimburse healthcare costs, Sagility offers a full range of services, including centralized claims administration, payment integrity, clinical management, and other essential support functions.

For healthcare providers—such as hospitals, physicians, diagnostics, and medical technology companies—the company provides revenue cycle management services, helping them with billing processes and securing payments from insurers. Additionally, Sagility extends some of its payer-focused services to Pharmacy Benefit Managers (PBMs), which manage prescription drug benefits for insured members under healthcare plans. This diversified support positions Sagility as a key player in the healthcare ecosystem, bridging service needs between insurers, providers, and PBMs.