Sagility India Files DRHP With SEBI for IPO
Sagility India Limited, a prominent player in the technology-enabled healthcare solutions sector, has taken a significant step towards its public debut by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). This move aims to raise funds through an Initial Public Offering (IPO), marking a pivotal moment in the company’s growth trajectory.
IPO Details
The upcoming IPO is structured as an entirely offer-for-sale, with up to 984.46 million equity shares being sold by Sagility B.V., the Promoter Selling Shareholder. Each share carries a face value of ₹10. The offering includes a reservation for eligible employees, ensuring that those who contribute to the company’s success have the opportunity to invest in its future. The shares will be offered through a book-building process, a method that allows for price discovery based on demand.
Allocation Breakdown
The allocation of shares in the IPO is designed to cater to various investor categories:
- 75% for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 10% for Retail Individual Investors (RIIs)
This structured allocation aims to attract a diverse range of investors, enhancing the overall appeal of the offering.
Company Background
Founded in 2021 and headquartered in Bengaluru, Sagility India Limited specializes in providing technology-driven services to both healthcare payers and providers. The company’s innovative solutions are designed to streamline clinical management processes, thereby improving efficiency and outcomes in the healthcare sector. Sagility operates from five global service delivery centers located in India, the Philippines, the U.S., Jamaica, and Colombia, showcasing its commitment to a global presence and operational excellence.
Financial Performance
Sagility has demonstrated robust financial growth, reporting a 12.69% increase in revenue from operations for the fiscal year 2024, reaching ₹4,753.56 crore. Additionally, the company’s profit after tax (PAT) saw a remarkable growth of 58.99%, amounting to ₹228.27 crore. These impressive financial metrics reflect the company’s strong market position and its potential for future growth, making it an attractive option for investors.
Book-Running Lead Managers
The IPO process will be managed by a team of reputable book-running lead managers, including:
- ICICI Securities Limited
- IIFL Securities Limited
- Jefferies India Private Limited
- J.P. Morgan India Private Limited
Link Intime India Private Limited will serve as the registrar of the issue, ensuring a smooth and efficient process for potential investors.
Conclusion
Sagility India Limited’s filing of the DRHP with SEBI marks a significant milestone in its journey towards becoming a publicly traded company. With a strong financial performance, a clear allocation strategy, and a commitment to innovation in healthcare solutions, Sagility is poised to attract a wide range of investors. As the IPO process unfolds, all eyes will be on this emerging player in the healthcare technology sector, eager to see how it navigates the public markets and continues to drive growth in the years to come.