Sagility India Limited Files DRHP with SEBI for Upcoming IPO

Sagility India Limited filed a DRHP and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering an Offer for Sale of up to 984,460,377 of equity shares. The face value is reported as Rs. 10 for each share. This new IPO issue is being made through the book-building process with a reservation of not more than 50% of the new offer reserved for Qualified Institutional Investors, not less than 15% reserved for NII and the remaining 35% or more reserved for Retail Individuals. The exact dates for the IPO's subscription opening and closing, as well as the price band, will be announced soon. ICICI Securities Limited, IIFL Securities Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited will serve as the book-running lead managers, and Link Intime India Private Limited will act as the registrar for this issue.

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About Sagility India Limited

Sagility Limited is a pure-play, technology-enabled, healthcare-focused solutions and services provider to U.S. health insurance companies—Payers—and healthcare providers such as hospitals, physicians, and diagnostic companies—Providers. This helps offload core business operations of both the Payer and the Provider for services like claims management, payment integrity, and clinical management. They also give services in synchrony with this for revenue cycle management to Providers and services to pharmacy benefit managers. They work through five service delivery locations based in India, the Philippines, U.S., Jamaica, and Colombia, with the tools and platforms available to them. Orders were also awarded to them as industry leaders by Avasant and Everest. Founded in the year 2021, it acquired the healthcare services business of its predecessor company in 2022 and expanded further in 2024 owing to the acquisition of subsidiaries.

Sagility India Limited IPO Objectives

The company will not receive any proceeds of the Offer for Sale by the Selling Shareholders. Each of the Selling Shareholders, i.e. Sagility B.V. and Sagility Holdings B.V, will be entitled to their respective proportion of the proceeds of the Offer for Sale after deducting their portion of the Offer related expenses and the applicable taxes thereon.

Financials of the Company

As of March 31, 2024, compared to March 2023, the company's assets increased by 0.7% to Rs 10,664.20 crore. However, revenue increased by 12.69% to Rs 4,753.56 crore, and profit after tax showed remarkable growth, with an increase of 58.99% to Rs 228.27 crore for the same period. Total borrowing decreased to Rs 1,933,52 crore from Rs 2,347.94 crore as compared to FY24 from FY23. These numbers show how the company's finances have been and where exactly there is a need to make strategic changes.

Lead manager(s), Registrar of IPO & Promoter(s) of the Company

The IPO is managed by several giants including, ICICI Securities Limited, IIFL Securities Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited, which is the book-running lead manager of this public issue. Link Intime India Private Limited has been appointed as the registrar for the issue, while the company has Sagility B.V. and Sagility Holdings B.V as a promoter(s).

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