Sagility India IPO Opens on November 05: Everything You Need to Know

Sagility India Limited is set to launch its initial public offering (IPO) for public bidding starting Tuesday, November 5, 2024 and it will close on Thursday, November 7, 2024. The company has established a price range of ₹28 to ₹30 per share.

Key Details of the IPO

• Issue Size – Sagility India IPO aims to raise ₹2,106.60 crore through an offer-for-sale (OFS) of equity shares, each with a face value of ₹10.
• IPO Dates – The IPO will be open for subscription from November 5 to November 7.
• Price Band – Shares are priced between ₹28 and ₹30 each.
• Expected Listing Date – The shares are expected to be listed on the BSE and NSE stock exchanges on November 12.
• Anchor Investor Round – The anchor round for the IPO will take place on November 4.

Allocation and Investor Information

• Basis of Allotment – The offer consists of 70.22 crore equity shares, all of which will be sold by Sagility BV, the Netherlands-based promoter.
• Reservation for Investors – According to the red herring prospectus, 75% of the net offer is reserved for Qualified Institutional Buyers (QIB), with up to 60% of this portion for anchor investors. Additionally, 5% of the QIB portion is allocated for mutual funds, 15% for Non-Institutional Investors (NII), and 10% for retail investors.
• Use of Proceeds – The funds raised from the IPO will be directed to the selling shareholder, Sagility BV, and the company itself will not receive any proceeds from the issue.

Market Insights

• Grey Market Premium (GMP) – Before the IPO opens, the company’s shares are showing a premium of ₹3 in the unlisted market. Sagility IPO GMP today is set at ₹3.
• Merchant Bankers and Registrar – The IPO is being managed by ICICI Securities, IIFL Securities, Jefferies India Private Limited, and J.P. Morgan India Private Limited. Link Intime India serves as the registrar for this public issue.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.