Sagility India's IPO: A New Chapter in Healthcare Tech

Sagility India Ltd's IPO, launched in the healthcare sector, witnessed a 22% subscription on its first day. The issue consists entirely of an offer for sale by promoter Sagility BV. Recently, Sagility acquired BirchAI to bolster its AI capabilities in healthcare solutions.

Sagility India Ltd, a prominent technology-enabled services provider in the healthcare sector, launched its initial public offering (IPO), witnessing a 22% subscription rate on the first day of bidding on Tuesday.

The firm, based in Bengaluru, reported bids for over 8.66 million shares against the 38.71 million shares on offer, as per NSE data. Retail investors showed significant interest, subscribing to 1.09 times their quota, while the non-institutional investors accessed 7% of their segment's shares.

With a price band set at Rs 28-30 per share, the IPO remains open for public subscription until November 7. Entirely a sale offer by the principal promoter Sagility BV, the proceeds amounting to Rs 2,106.60 crore will go to the selling stakeholders. The company's equity shares seek listing on both the BSE and NSE exchanges. This move follows Sagility's strategic acquisition of BirchAI in March 2024, enhancing its service with leading-edge AI technology.

(With inputs from agencies.)