Latest News | Sagility India IPO Subscribed 52 Pc on Day 2 of Offer
Get latest articles and stories on Latest News at LatestLY. The initial public offer of Sagility India Ltd, a technology-enabled services provider in the healthcare space, received a 52 per cent subscription on day two of bidding on Wednesday.
New Delhi, Nov 6 (PTI) The initial public offer of Sagility India Ltd, a technology-enabled services provider in the healthcare space, received a 52 per cent subscription on day two of bidding on Wednesday.
The initial share sale received bids for 20,09,58,500 shares against 38,70,64,594 shares on offer, as per NSE data.
The portion for retail individual investors (RIIs) fetched 2.24 times subscription while the quota for non-institutional investors got subscribed 24 per cent. The qualified institutional buyers (QIBs) part received a 7 per cent subscription.
Sagility India Ltd on Monday said it has mobilised over Rs 945 crore from anchor investors.
The issue, with a price band of Rs 28-30 per share, will remain open for public subscription until November 7.
The Bengaluru-based company's IPO is entirely an offer for sale (OFS) of 70.22 crore shares worth Rs 2,106.60 crore at the upper end of the price band. Promoter Sagility BV is selling its stake through the OFS.
The entire proceeds from the public issue will go to the selling shareholders.
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.
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 the NSE.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)