Sagility India IPO opens for subscription on November 05. The company aims to raise Rs 2,106 crore via an offer for sale of 70.22 crore shares. The IPO bidding closes on November 07. The company has set the IPO price band between Rs 28 – 30 per equity share.
Sagility India IPO GMP
The company’s shares were commanding a premium of 10% in the grey market, indicating a gain on the day of listing. The grey market is an unofficial place to trade shares ahead of listing.
Allotment and listing
The allotment of shares is likely to be finalised on November 08 by the registrar of the company. The listing on NSE and BSE is expected to take place on November 12, as per the tentative schedule.
Minimum investment required
Retail buyers need to buy at least 500 shares which amounts to Rs 15,000. There are different lot sizes for small and big NIIs. The minimum investment required for a small NII is Rs 2,10,000 while for a big NII, it is Rs 10,05,000.
Employee reservation
The company kept aside up to 1,900,000 shares for employees, which will be offered at a discount of Rs 2 to the issue price.
About Sagility India
Sagility India, formerly known as Berkmeer India, is in the business of providing healthcare-focused solutions and services to payers (US health insurers who fund and reimburse the cost of healthcare services) and providers (primarily hospitals, physicians, diagnostics and medical technology companies). The company’s 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.
BRLMs and registrar
ICICI Securities, IIFL Securities, Jefferies India, and J.P. Morgan India are the lead book runners of the issue. Link Intime India is the registrar for the issue.
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