Sagility India Limited IPO Opens On November 05. Check IPO Details Issue Date Price

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Sagility India Limited IPO Opens On November 05. Check IPO Details Issue Date Price

November 05, 2024
Sagility India Limited IPO Opens On November 05. Check IPO Details Issue Date Price

Sagility India Limited is coming out with a fresh public issue to raise Rs. 2106.22 crores from the market.

Below are the details of the Sagility India Limited IPO:

  • Issue opens – November 5 (Tuesday)
  • Issue closes – November 7 (Thursday)
  • Issue size – Rs. 2106.22 crores
  • Price band – Rs. 28 to 30 per equity share
  • Bid lot – 500 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Sagility India Limited provide technology-enabled business solutions and services to clients in the U.S. healthcare industry. They are a pure-play healthcare focused services provider, and their clients include Payers (U.S. health insurance companies, which finance and reimburse the cost of health services) and Providers (primarily hospitals, physicians, and diagnostic and medical devices companies).
  • Their services to Payers cater to various aspects of their operations including (i) core benefits administration functions such as claims management, enrolment, benefits plan building, premium billing, credentialing, and provider data management and (ii) clinical functions such as utilization management, care management, and population health management.
  • Their services to Providers include revenue cycle management functions such as financial clearance, medical coding, billing, and accounts receivable follow-up services. Additionally, they also provide some of the services that they provide to Payers to pharmacy benefit managers (“PBMs”) that manage prescription drugs for Members (i.e., insured persons) under health insurance plans. They deliver these services leveraging their tools and platforms, as needed, through their capable talent pool from their five global service delivery locations in India, the Philippines, the U.S., Jamaica and Colombia.
  • They have been recognized for the quality and scale of their services by industry specialists. They were ranked as a Leader by Avasant in their Clinical Services Business Process Transformation RadarView report 2023 and as a Leader in Everest’s Healthcare Payer Operations PEAK Matrix Assessment 2023 (Source: Everest Report). All of their clients are located in the U.S. As of June 30, 2024, their five largest client groups (i.e., client entities together with their affiliates) had an average tenure of 17 years with the Business. As of January 2024, they served five of the top 10 Payers by enrolment in the U.S. (Source: Everest Report). Further, during the Financial Years 2024 and 2023 and the quarter ended June 30, 2024, they have added 22 new clients.

Issue Size: Rs. 2106.22 Cr

Employee Reservation: Up to 1900000 Equity shares

Employee Discount: Rs. 2 per Equity Share

Issue break-up:

QIB – 75 % of the net offer – Rs. 1575.67 Cr.
NIB – 15 % of the net offer – Rs. 315.13 Cr.
RET – 10 % of the net offer – Rs. 210.09 Cr.

Listing: BSE & NSE

Registrar: Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, November 7th, 2024.

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