Mon Nov 04 12:53:49 UTC 2024: ## Sagility India IPO Opens for Bidding, Aims to Raise ₹2,106.60 Crore

**Bengaluru, India, November 3, 2023:** Sagility India Limited, a healthcare-centric service provider specializing in financial services for the US health insurance market, is set to launch its initial public offering (IPO) on Tuesday, November 5th. The IPO will close on Thursday, November 7th.

The company has fixed its price band at ₹28 to ₹30 per share, aiming to raise a total of ₹2,106.60 crore through an offer-for-sale (OFS). The funds will be used by Sagility BV, the company’s Netherlands-based promoter, and not by Sagility India itself.

Sagility focuses on providing services to US health insurance companies (Payers) and healthcare providers, including hospitals, physicians, and medical device companies. The company’s services include financing and reimbursement for healthcare services.

The IPO is expected to list on the BSE and NSE stock exchanges on Tuesday, November 12th. The anchor round for the public issue will take place on Monday, November 4th.

The OFS component comprises 70.22 crore equity shares, with 75% of the net offer allocated to Qualified Institutional Buyers (QIBs) on a proportional basis. Up to 60% of the QIB portion may be allocated to anchor investors, while 5% will be available for allocation to mutual funds. Non-Institutional Investors (NII) will receive 15% of the net offer, and retail investors will receive 10%.

Currently, the grey market premium (GMP) for the IPO is ₹3 as of November 3rd. This indicates that investors are willing to pay an extra ₹3 per share beyond the upper price band of ₹30.

ICICI Securities, IIFL Securities, Jefferies India Private Limited, and J.P. Morgan India Private Limited are the book-runners for the IPO, while Link Intime India is the registrar.

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