Sagility India IPO: Latest GMP, Allotment, Listing, Subscription Status; Last Date On Nov 7, Should You Bid?

Sagility India IPO: The Rs 2,106.60 crore IPO has subscribed 52% of its offered size on the second day of the bidding, driven by employee reservations and retail investors. However, the demand from high net worth and qualified institutional buyers was slow. The proposed equity shares of the IPO will be listed on BSE and NSE. Bidding for Sagility IPO will close on Thursday, November 7, 2024.

Sagility India IPO Subscription Status:

By the end of November 6, 2024, which is the second day of the bidding, Sagility IPO received bids of 20,09,58,500 equity shares, which is 52% of the offered size of 38,70,64,594 equity shares.

On Day 2, the portion reserved for employees and retail individual investors (RIIs) oversubscribed by 2.44x and 2.24x respectively. However, the portion kept for non-institutional investors (NIIs) and Qualified Institutional Buyers (QIBs) subscribed by 24% and 7% of the total reserved size for the category.

Sagility IPO Details:

The IPO opened on November 5 and will close on November 7 for the bidding. The Rs 2,106.60 crore IPO is entirely offer for sale (OFS) where selling shareholders will offload up to 702,199,262 equity shares. The selling shareholder is Sagility B.V.

The price band for the IPO is fixed at the lower end of Rs 28 per share and the upper end of Rs 30 per share. The face value is at Rs 10 per share. The bid lot size is 500 Equity Shares and in multiples thereof.
Of the total size, 75% of the issue will be allocated to Qualified Institutional Buyers ("QIBs"), while 15% of the size is going to be reserved for non-institutional investors (NII). Lastly, 10% of the offer size is kept for Retail Individual Bidders.

Sagility India GMP Today:

As per Investor Grain website, Sagility India IPO's last GMP is ₹0.50, last updated Nov 6th 2024 10:31 PM. With a price band of 30.00, Sagility India IPO's estimated listing price is ₹30.5 (cap price + today's GMP). The expected percentage gain/loss per share is 1.67%.

Sagility India IPO Listing:

After the IPO, the next step will be the allotment of equity shares which is expected to take place on November 8, 2024. Further, the initiation of refunds and credit of shares in demat accounts will take place on November 11.

The listing date as of now is seen as November 12, 2024.

Should You Subscribe to the IPO on the last day?

SBI Securities in its latest report said, "The company is valued at FY24 P/E multiple of 56.3x based on the upper price band on the post-issue capital. Sagility possesses robust domain experience in the US healthcare industry which has helped to maintain long-term relations for healthcare payers and providers."

Further, SBI Securities note said, the company operates a unique business model and does not have any like-to-like comparable listed peers globally as well as domestically. However, looking at the steep valuation at which businessis offered to investors and its dependency on Top 10 clients (~91.2% of 1QFY25 revenue), it is advisable to AVOID the issue.

Sagility India Ltd (Sagility) is a provider of technology enabled business solutions and services to clients in the US healthcare industry. The company is a pure-play healthcare focused service provider and its clients includes "Payers" (US health insurance companies) and "Providers" (hospitals, physicians, diagnostic and medical devices companies).