Sagility India IPO reaches 28% subscription on second day with strong retail interest
economictimes.indiatimes.com — November 6, 2024, 06:01 AM UTC
Sagility India's IPO is 28% subscribed on the second day of bidding, up from 22% on the first day. The issue, valued at ₹2,106 crore, is entirely an offer-for-sale with no new shares being issued. Retail investors have shown strong interest, with their portion subscribed at 1.38 times. However, qualified institutional buyers have not yet participated. The shares are priced between ₹28-30, with a muted grey market premium of ₹0. Sagility India reported a 47.5% drop in profit for the June 2024 quarter, despite a revenue increase. The company focuses on technology solutions for U.S. healthcare providers and payers.