Sagility India IPO Lists Today: Muted Debut Expected Sagility India, previously known as Berkmeer India, is set to debut on the stock market today, November 12. This Bengaluru-based healthcare solutions provider offered shares in the range of Rs 28-30 each, with a minimum application of 500 shares. The company raised approximately Rs 2,106.6 crore through an offer-for-sale of up to 70.22 crore shares by its promoters.

Investor expectations for a substantial listing gain appear tempered, as Sagility’s shares have seen a drop in Grey Market Premium (GMP), now indicating a modest potential listing gain of around 2%. During its subscription period from November 5 to November 7, the IPO received a lukewarm response, achieving an overall subscription of 3.2 times, largely due to interest from qualified institutional buyers (QIBs), who oversubscribed by 3.52 times. Non-institutional investors (NIIs) subscribed at 1.93 times, while retail investors and employees subscribed at 4.16 and 3.75 times, respectively.

Despite the subdued market sentiment, brokerage firms remain optimistic about Sagility India’s long-term potential. The IPO was managed by ICICI Securities, Jefferies India, IIFL Securities, and JP Morgan India, with Link Intime India serving as the registrar. The shares are expected to be listed on both the BSE and NSE.

Sagility India IPO Lists Today: Muted Debut Expected  Sagility India Ltd, a healthcare services provider, is making its debut on the stock exchanges BSE and NSE today, November 12. The company’s IPO was open for subscription from November 5 to November 7, with shares priced between Rs 28 and Rs 30 each, raising approximately Rs 2,106.6 crore through a complete offer-for-sale of 70.22 crore shares by promoters.

Sagility India’s shares are expected to trade at Rs 30 per share, matching the IPO’s upper price limit, signaling a flat start based on the current Grey Market Premium (GMP), which sits at Rs 0, indicating no premium or discount. Analysts believe the subdued debut may reflect a cautious market climate, as recent IPOs have also shown weak initial performance.

Despite the muted market entry, Sagility’s financials show promise, with revenue growing 9.6% to Rs 1,223 crore for the quarter ending June 30, 2024, and increasing by 12.69% year-over-year to Rs 4,753 crore for FY24. Prathamesh Masdekar, a research analyst at StoxBox, recommends that investors remain invested for medium-term gains, citing the company’s growth potential.

The IPO had a decent reception, with an overall subscription of 3.2 times, including 4.16 times in the retail category, 3.52 times among Qualified Institutional Buyers (QIBs), and 1.93 times by Non-Institutional Investors (NIIs). ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India were the lead managers for the IPO, while Link Intime India served as the registrar.