IPO Details

Bidding Dates

05 Nov '24 - 07 Nov '24

Minimum Investment

₹15,000 / 1 Lot (500 Shares)

Price Range

₹28 - ₹30

Maximum Investment

₹1,95,000 / 13 Lot (6,500 Shares)

Retail Discount

To be announced

Issue Size

₹2,106.60 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Nov 5, 2024

Closing Date

Nov 7, 2024

Basis of Allotment

Nov 8, 2024

Initiation of Refunds

Nov 11, 2024

Listing Date

Nov 12, 2024

About Sagility India IPO

Sagility IPO is a book-built issue valued at ₹2,106.60 crores, comprising a complete offer for sale of 70.22 crore shares. The IPO opens for public subscription on November 5, 2024, and closes on November 7, 2024. The allotment is anticipated to be finalized on November 8, 2024, with the listing scheduled on BSE and NSE for November 12, 2024. The price band for the IPO is set between ₹28 and ₹30 per share.

Retail investors can invest with a minimum lot size of 500 shares, requiring an investment of ₹15,000. The minimum investment for small non-institutional investors (sNII) is 14 lots (7,000 shares) at ₹2,10,000, while large non-institutional investors (bNII) have a minimum investment of 67 lots (33,500 shares) at ₹10,05,000. A reservation of 19 lakh shares is available for employees at a ₹2 discount per share.

Industry Outlook:

  1. In 2023, the U.S. healthcare operations spending reached approximately $201.1 billion (₹16.8 trillion), projected to grow at a 5.2% CAGR, hitting $258.9 billion (₹21.6 trillion) by 2028.
  2. Healthcare expenditure, constituting 17.1% of U.S. GDP in 2023, is expected to rise to 6.1 trillion (₹509.8 trillion) by 2028 at a 5.5% CAGR.

Sagility India IPO Objectives

The company will not receive any proceeds from the sale. All proceeds, after deducting offer-related expenses and taxes, will go to the Promoter Selling Shareholder.

About Sagility India Limited

Sagility India Limited, previously known as Berkmeer India Private Limited, specialises in healthcare solutions for U.S.-based health insurers (payers) and healthcare providers (hospitals, physicians, diagnostics, and medical technology companies).

Sagility supports payers with a wide range of operational services, including centralised claims administration, payment integrity, and clinical management. For providers, the company offers revenue cycle management to streamline billing and claim processes with payers. Additionally, Sagility extends services to Pharmacy Benefit Managers (PBMs), managing prescription drug coverage for insured members under health benefit plans.

All clients are U.S.-based, with the top five customer groups maintaining an average 17-year partnership as of March 2024. Sagility serves five of the ten largest U.S. payers and added 20 new clients in 2023 and 2024. The company employs 35,044 staff, 60.52% of whom are women, including 1,687 certified employees across roles like medical coding, nursing, and healthcare specialties.

Peer Details

Sagility India Limited operates in a unique business segment with no directly comparable listed companies in India.

How to Check the Allotment Status of the Sagility India IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Sagility India IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Sagility India IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Sagility India IPO

  • Registered office: No. 23 & 24, AMR Tech Park, Building 2A, First Floor, Hongasandara Village, Off Hosur Road, Bommanahalli, Bengaluru 560 068, Karnataka, India
  • Phone: +91- 80-7125 1500
  • E-mail: investorservice@sagilityhealth.com

IPO Financials

Particulars As at and for the quarter ended June 30, 2024 As at and for the quarter ended June 30, 2023 As at and for the Year ended March 31, 2024 As at and for the Year ended March 31, 2023
Revenue from operations (in ₹ million ) 12,233.28 11,160.93 47,535.57 42,184.08
Profit After Tax (PAT) (in ₹ million) 222.94 424.99 2,282.66 1,435.72
Total Borrowings (in ₹ million) 9,439.12 23,147.47 19,335.18 23,479.42
Net Worth (in ₹ million) 76,081.57 62,029.87 64,431.28 62,066.70
Return on Net Worth (%) 0.29% 0.69% 3.54% 2.31%
Earning Per Share (EPS)-in absolute ₹ 0.05 0.10 0.53 0.33

Know before investing

Strengths

6

  1. Leader in U.S. healthcare market with 1.23% market share (2023).

  2. Provides end-to-end, tech-enabled services to Payers and Providers.

  3. High client retention, with 110.82% revenue retention rate (2024).

  4. 35,858 employees across 31 locations with 60.68% women workforce.

  5. Strong tech portfolio, utilizing AI, ML, and RPA tools.

  6. Supports five of the top 10 U.S. healthcare Payers (2024).

Risks

6

  1. Intense competition may affect Sagility's business and profitability.

  2. Sole U.S. healthcare focus exposes Sagility to industry risks.

  3. Equity shares issued at ₹28.30 below potential offer price.

  4. High reliance on goodwill, 54.67% of total assets (2024).

  5. Sagility's credit rating downgrade may impact future capital access.

  6. Attrition rate at 27.34% raises recruitment and retention costs.

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Sagility India IPO FAQs

What is the Sagility India IPO?

Sagility India’s IPO is a book-built IPO. It will be open from November 5, 2024, to November 7, 2024.

When will Sagility India IPO be allotted?

The Basis of Allotment will happen on Friday, November 8, 2024.

When will Sagility India IPO open for subscription?

The IPO subscription window will open on November 5, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 500 shares.

When will Sagility India Limited list on exchanges?

The listing date for Sagility India is Tuesday, November 12, 2024.

What would be the listing gains on the Sagility India IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Sagility India IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Sagility India IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Sagility India Limited using one PAN?

You can submit only one application using your PAN card.

How to read Sagility India Limited's financial statements?

To read Sagility India’s financial statements, download the IPO’s  RHP document.