Shares of healthcare services provider Sagility India jumped 5.8% to as much as Rs 32.87 after making a lacklustre listing. The stocks made a lacklustre debut on the stock market today, listing at a modest 3.53% premium at Rs 31.06 on the National Stock Exchange (NSE) while remaining flat at Rs 30 on the Bombay Stock Exchange (BSE).
Listing Details
In an official notice, BSE announced, “Trading Members of the Exchange are hereby informed that effective from Tuesday, November 12, 2024, the equity shares of Sagility India Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.”
IPO Performance
The Sagility India IPO, which opened for subscription between November 5 and November 7, received a moderate response from investors. As per data from the NSE, the public issue was subscribed 3.20 times overall.
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Breaking down by investor categories, the IPO received 4.16 times subscription in the Retail category, 3.52 times in the Qualified Institutional Buyers (QIBs) category, and 1.93 times in the Non-Institutional Investors (NII) category.
Offer Details
The IPO was offered at a price band of Rs 28 to Rs 30 per share. At the upper end of this price range, the company raised Rs 2,106.60 crore through the book-built issue, which consisted entirely of an Offer for Sale (OFS) of 70.22 crore equity shares.
Lead Managers
ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India acted as the book-running lead managers for the issue, while Link Intime India Private Ltd served as the IPO registrar.
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Financial Performance of Sagility India
Sagility India reported a sharp 47.5% year-on-year decline in net profit to Rs 22.3 crore for the quarter ending June 2024, primarily driven by lower operating margins and a higher tax burden.
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