Sagility India shares settle at Rs 29/share on listing day after trading at 10% premium

Sagility India Share Price: Tech-enabled healthcare business process management firm Sagility India's shares declined to Rs 29-odd levels on Tuesday—their first day in the secondary market—after entering the listed space at a premium to their IPO price. The Sagility India stock debuted in the secondary market at Rs 31.06 each on stock exchanges BSE and NSE, translating to a premium of 3.5 per cent over the upper end of the issue price range of Rs 28-30. During the session, Sagility India shares climbed to as high as Rs 32.90 and Rs 32.87 apiece on BSE and NSE respectively, a premium of almost 10 per cent each, before settling at Rs 29.36 and Rs 29.1 apiece for the day.  

Sagility India Enters Listed Space | What management says 

"From a vision standpoint, we always want to be the best in class in terms of technology-enabled healthcare service providers in the segment... We serve the US market which is a very large market representing about 17 per cent of the US GDP," Sagility India Group CFO Sarvabhouman Doraiswamy Srinivasan told Zee Business. "We are in a very comfortable and huge market space," he said. 

Srinivasan also said that the change in the US administration will have a "largely neutral" impact on the company. 

"What we do is a core function and not a discretionary spend. We do the core operations of all our healthcare clients in the US," said the Sagility India CFO, adding that the company remains confident of consistently maintaining profitability to the tune of 23-25 per cent. 

Sagility India IPO Summary

Its IPO, comprising an offer for sale (OFS) worth an estimated Rs 2,107 crore, concluded with an overall subscription of 3.2 times on Thursday, November 7. The portions reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were booked 3.5 times and 1.9 times the shares reserved respectively. Shares reserved for retail investors saw a booking of 4.2 times and those for employees 3.8 times. 

Prior to the IPO, Sagility India raised Rs 945 crore from anchor investors by allocating 31.5 crore equity shares at Rs 30 per unit. 

Its anchor investors include ICICI Prudential Innovation Fund, ICICI Prudential Life Insurance Company, HDFC Mutual Fund-HDFC Childrens Gift Fund, Nomura Funds Ireland, Government Pension Fund Global and Florida Retirement System-Allspring Global Investments.

What does Sagility India do?

Sagility India provides a range of tech-enabled business solutions and services to the US healthcare industry.

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