Amidst the weakness in the stock market, another company has been listed today. Sagility India has been listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today. On the very first day, this stock was listed at a premium price compared to the issue price. The issue price of Sagility India was fixed at ₹ 30 per share.

On Tuesday, Sagility India's stock was listed on BSE and NSE at ₹31.06 per share as compared to the issue price. Thus, this stock could be listed at a premium of about 3.5% as compared to the issue price.
 

Sagility India has raised ₹2106.60 crores from this IPO, which is completely an Offer-for-Sale i.e. OFS. The company's promoters have sold 70.22 crore shares through OFS. The price band for this IPO was fixed at ₹28 - ₹32 per share. The minimum lot size was 500 shares. 19,00,000 shares were reserved for employees at a discount of ₹2 per share. Even before the IPO opened for subscription, the company had raised about ₹945.40 crores from anchor investors. In FY24, Sagility's net profit grew 59% to Rs 228 crore despite a decline in operating margins, supported by lower financial costs and a rise in other earnings. The company's revenue grew 12.7% to Rs 4,753.6 crore, while EBITDA grew 5.9% to Rs 1,088 crore, although margins declined 150 basis points to 22.9%. ICICI Securities Limited, IIFL Securities Limited, Jefferies India Private Limited and JP Morgan India Private Limited are the book running lead managers, while Link Intime India is the registrar to the issue. What does the company do? Sagility India, formerly known as Berkmeer India, provides healthcare focused solutions and services. It consists of two parties. The first are payers who reimburse and fund healthcare services and the second are providers, which are usually hospitals, physicians, diagnostics and medical technology companies. These companies support the core business of payers and providers. This includes claims administration, payment integrity, clinical management and other services.