Schedule of Sagility India
| Issue open date | 05 Nov 2024 |
| Issue close date | 07 Nov 2024 |
| UPI mandate deadline | 07 Nov 2024 (5 PM) |
| Allotment finalization | 08 Nov 2024 |
| Refund initiation | 08 Nov 2024 |
| Share credit | 11 Nov 2024 |
| Listing date | 12 Nov 2024 |
| Mandate end date | 22 Nov 2024 |
| Lock-in end date for anchor investors (50%) | 08 Dec 2024 |
| Lock-in end date for anchor investors (remaining) | 06 Feb 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Sagility India
Sagility India Limited provides technology-driven business solutions and services to the U.S. healthcare industry, focusing exclusively on healthcare clients, including Payers (health insurers) and Providers (hospitals, physicians, and medical device companies). Their services support Payers with core operations like claims management, enrollment, and clinical functions, as well as Providers with revenue cycle management tasks. They also extend prescription management services to pharmacy benefit managers. Leveraging a global talent pool from delivery centres across India, the Philippines, the U.S., Jamaica, and Colombia, they have been recognised as a leader in the industry by Avasant and Everest. Since their incorporation in 2021 and the acquisition of their predecessor’s healthcare business, they have expanded their client base, serving top U.S. health insurers, and added 22 new clients as of mid-2024.
Financials of Sagility India
IPO Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹2106 crores |
| Offer for sale | ₹2106 crores |
Strengths
- Leader in the large, resilient U.S. Payer and Provider solutions market
- Strong domain expertise in healthcare operations, providing end-to-end service offerings for Payers and Providers
- Comprehensive suite of scalable, technology-enabled services and solutions, featuring proprietary tools for automation, intelligent intake and content processing, speech processing, interaction analytics, generative AI, and RCM workflow tools
- Established, long-term relationships with healthcare Payers and Providers that continue to expand
- Flexible, multi-shore delivery model that is scalable and adheres to certified data protection and service standards
- Consistently strong financial performance with high margins
Risks
- The company operates in a highly competitive healthcare services industry, and an inability to compete effectively could negatively impact its business, financial condition, and operational results.
- Its focus on the U.S. healthcare industry makes it vulnerable to industry-specific factors, such as reduced growth, shifts in outsourcing, and other trends that could adversely affect performance.
- A significant portion of its assets consists of goodwill and other intangibles; any impairment to these assets may harm its reputation and financial standing.
- Anti-outsourcing legislation could hinder its ability to serve customers effectively and adversely impact its business, financial condition, and operational outcomes.
- A potential downgrade in the company’s credit rating may restrict its ability to secure future capital.
Subscription Figures for Sagility India
Subscription numbers as of 07:00 pm on 7 Nov 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 21,00,89,779 | 73,86,82,000 | 3.52 |
| Non Institutional Investors | 10,50,44,889 | 20,27,02,500 | 1.93 |
| Retail Individual Investors (RIIs) | 7,00,29,926 | 29,15,02,500 | 4.16 |
| Employees | 19,00,000 | 71,30,000 | 3.75 |
| Total | 38,70,64,594 | 1,24,00,17,000 | 3.20 |
Note: When evaluating IPOs, one should not just look at grey market premiums. The subscription numbers give a clearer picture of investor interest. Read this article to learn how to track the live IPO subscription data.