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Sagility India Initial Public Offering Allotment: Unlisted shares of Sagility India Ltd proceed to commerce solely Rs 0.30 greater within the gray market, signalling a subdued itemizing.
Sagility India Initial Public Offering Allotment.
The allotment of the Sagility India Initial Public Offering has been finalised, and the itemizing is about to happen on Tuesday, November 12. However, the gray market exercise continues to point out a subdued itemizing risk with the present GMP remaining at simply 1 per cent. Check the Sagility India Initial Public Offering allotment on-line:
The Initial Public Offering, which was opened for public subscription between November 5 and November 7, recieved a 3.2 instances subscription garnering bids for 1,23,99,75,500 shares as in opposition to the 38,70,64,594 shares on provide.
The shares of Sagility India are scheduled to be listed on each BSE and NSE on November 12.
The allotment standing may be checked on-line on the web sites of BSE and NSE, in addition to on the registrar Link Intime India’s portal.
Sagility India Initial Public Offering: How to Check Allotment Status?
Once the Initial Public Offering allotment is finalised, the standing may be checked by following these steps:
1) Go to the official BSE web site by way of the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, choose ‘Equity’.
3) Under ‘Issue Name’, choose ‘Sagility India Ltd’ within the dropbox.
4) Enter your software quantity, or the Permanent Account Number (PAN).
5) Then, click on on the ‘I am not a robot’ to confirm your self and hit ‘Search’ possibility.
Your share software standing will seem in your display.
You may also go to direct Link Intime India Pvt Ltd’s portal — and check the Sagility India IPO allotment status.
Sagility India IPO: GMP Today
According to market observers, unlisted shares of Sagility India Ltd continue to trade only Rs 0.30 higher in the grey market than its issue price. The Rs 0.30 grey market premium or 1 per cent GMP means the grey market is expecting a muted listing. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sagility India IPO: More Details
The Sagility India IPO was opened between November 5 and November 7. During the period, the initial public offering got bids for 123,99,75,500 shares against 38,70,64,594 shares on offer, which is a 3.2 times subscription.
The portion for Retail Individual Investors (RIIs) mopped up 4.16 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 3.52 times.
The Bengaluru-based Sagility India’s proposed IPO is entirely an offer for sale (OFS) of 70.22 crore shares, by promoter Sagility B V, worth Rs 2,106.60 crore at the upper end of the price band.
The offer includes a subscription reservation for eligible employees.
Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire fund will go to the selling shareholders.
The objective of the initial share-sale is to gain the advantages of listing the equity shares on stock exchanges, the company stated.
Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.
The company said that 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Investors can bid for a minimum of 500 equity shares and in multiples of 500 thereafter.
The company provides technology-driven services to both payers (US health insurance companies, which finance and reimburse the cost of health services), and providers (primarily hospitals, physicians, and diagnostic and medical devices companies).
In March 2024, Sagility acquired BirchAI, a healthcare technology firm specialising in cloud-based generative AI technology. This acquisition is expected to enhance member and provider engagement and reduce clients’ operational costs through AI-powered customer support solutions using speech-to-text and large language models (LLMs) integrated with Sagility’s engagement solutions.
As of March 31, 2024, Sagility had 35,044 employees, 60.52 per cent of them women, up from 30,830 a year ago.
Sagility India’s revenue from operations during fiscal year 2024 increased 12.7 per cent to Rs 4,753.56 crore against Rs 4,218.41 crore a year ago. Profit after tax soared 50 per cent to Rs 228.27 crore from Rs 143.57 crore in the preceding year.
For the three months ended June 30, 2024, revenue from operations stood at Rs 1,223.33 crore and profit after tax at Rs 22.29 crore.
ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India are the book-running lead managers to the issue. The company’s equity shares are proposed to be listed on the BSE and NSE.
News business » ipo Sagility India IPO Allotment Finalised: GMP Signals Subdued Listing, Check Allotment Status Online
