The Sagility India IPO, a healthcare technology-enabled services provider, has garnered 40% subscription by its second day of bidding, November 6. The offering received close to 14 crore bids against the 38.7 crore shares available, as per NSE data.
Retail individual investors (RIIs) led the demand, with their portion nearly twice subscribed. Non-institutional investors (NIIs) subscribed 13% of their allocation, while qualified institutional buyers (QIBs) bid for 49,000 shares of the 21 crore available. The employee category saw over 2 times subscription, reflecting high internal interest.
The IPO is priced at Rs 2,106.60 crore and involves an offer for sale of 70.22 crore shares fully. The bidding period opened on November 5 and will run till November 7, with the company’s shares expected to make their debut on both the BSE and NSE on November 12. The price band has been pegged at Rs 28-30 per share, with a minimum investment of Rs 15,000 required from retail investors, who have to purchase a lot size of 500 shares.
It had also got a good beginning for the IPO by mobilizing Rs 945 crore from anchor investors on November 4. The fresh issue objectives will be to achieve listing benefits and to provide a platform to the promoter to offload up to 70.22 crore shares.
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Source: Moneycontrol
News Desk
