Sagility India Ltd, a provider of technology-enabled business solutions and services, has set a price band of ₹28 to ₹30 per equity share, with a face value of ₹10 each for its ₹2,107-crore initial public offering scheduled for November 5.
Investors can bid for a minimum of 500 equity shares and in multiples of 500 shares thereafter, according to the company. The IPO is entirely an offer-for-sale of up to 702.20 million equity shares by Sagility B.V, the promoter selling and sole shareholder, with no fresh component. Following the IPO, Sagility B.V’s shareholding in the company will fall to 85 per cent.
Sagility India specialises in providing services to health insurance companies (payers) and healthcare providers, such as hospitals, physicians, and medical device companies.
For payers, the company offers support in several operational areas, including core functions such as claims management, enrolment, benefits plan development, premium billing, credentialing, and provider data management. It also addresses clinical needs, including utilisation management, care management, and population health management.
Sagility reported a restated revenue from operations of ₹4,753.56 crore for FY24, marking a 12.69 per cent increase from ₹4,218.41 crore in the previous year. This growth was primarily driven by increased volumes from existing clients and the addition of new statements of work (SOWs), it said in a release. Profit after tax saw growth, rising 58.99 per cent from ₹143.57 crore in financial year 2023 to ₹228.27 crore in the same period.