Sagility India Limited, formerly known as Berkmeer India Private Limited, provides healthcare-focused solutions and services to Payers (US health insurers who fund and reimburse the cost of healthcare services) and Providers (primarily hospitals, physicians, diagnostics and medical technology companies).
The company supports the core business of both payers and providers. Services to payers span their entire operational spectrum, including centralized claims administration and clinical services functions. These include claims administration, payment integrity, clinical management, and other services. For providers, the company offers revenue cycle management services to assist them in managing their billing and claiming treatment costs from payers.
In addition, the Company also offers some of the services it provides to Payers to Pharmacy Benefit Managers (“PBMs”) who manage prescription drug coverage for members (i.e., insureds) under health benefit plans.
The company’s customers are all based in the USA. As of March 31, 2024, the Company’s five largest customer groups (i.e. the customer companies together with their subsidiaries) had an average tenure of service of 17 years. In January 2024, the company served five of the ten largest payers in the US (source: Everest Report). In addition, the company acquired 20 new customers in the financial years 2024 and 2023.
As of March 31, 2024, Sagility India had 35,044 employees, of which 60.52% were women. As of March 31, 2024, 1,687 of the employees held certifications, including 374 certified medical coders, 1,280 registered nurses in the US, Philippines and India, and 33 employees with other degrees such as dentistry, surgery and pharmacy.
Sagility India IPO – Details
| IPO Opening Date | 05 November 2024 |
| IPO Closing Date | 07 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 70,21,99,262 Shares Worth ₹2,106.60 Crore Offer For Sale: 70,21,99,262 Shares Worth ₹2,106.60 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹28 – ₹30 per share |
| Market Lot | 500 Shares |
| Min Order | 500 Shares (1 Lot) |
| Employee Discount | ₹2 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Sagility India IPO – Date Schedule
| IPO Open Date | 05 November 2024 |
| IPO Close Date | 07 November 2024 |
| Basis of Allotment | 08 November 2024 |
| Initiation of Refund | 11 November 2024 |
| Credit of Shares to Demat Account | 11 November 2024 |
| IPO Listing Date | 12 November 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 07, 2024 |
Sagility India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹15,000 |
| Retail (Max) | 13 | 6,500 | ₹1,95,000 |
| S-HNI (Min) | 14 | 7,000 | ₹2,10,000 |
| S-HNI (Max) | 66 | 33,000 | ₹9,90,000 |
| B-HNI (Min) | 67 | 33,500 | ₹10,05,000 |
Competitive Strengths
- Leadership position in the large and resilient U.S. Payer and Provider solutions market.
- Domain expertise in healthcare operations, with end-to-end service offerings to Payers and Providers.
- Suite of scalable, technology-enabled services and solutions, supported by proprietary tools and platforms.
- Deep, long-term, expanding client relationships across healthcare Payers and Providers.
- Multi-shore, scalable, and flexible delivery model with certified data protection and service standards.
- Experienced management and board, motivated employee base, marquee sponsor support, and a sustainability-focused culture.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 944.39 | 733.82 | -4.67 | 4,239.23 |
| 31 March 2023 | 4,236.06 | 3,191.19 | 143.57 | 2,347.94 |
| 31 March 2024 | 4,781.50 | 3,665.46 | 228.26 | 1,933.52 |
| 30 June 2024 | 1,247.75 | 1,029.38 | 22.29 | 943.91 |
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 0.15 |
| RoNW | 0.29 |
| P/BV | 2 |
| PAT Margin (%) | 1.82 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 0.49 | 0.49 |
| P/E (x) | 61.52 | 61.52 |
Object Of The Issue
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges, and
- Carry out the Offer for Sale of up to 702,199,262 Equity Shares of the face value of Rs. 10 each by the Promoter Selling Shareholder.
Sagility India IPO Peer Comparison
- Sagility’s healthcare-only focus across the payer and provider markets, there are no listed service providers in India or abroad that cater to US healthcare enterprises and are its immediate comparable size and business model.
Sagility India IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 85.00% |
Sagility India IPO Prospectus
Company Contact Information
| Sagility India Limited No. 23 & 24, AMR Tech Park, Building 2A, First Floor, Hongasandara Village, Off Hosur Road, Bommanahalli, Bengaluru – 560 068 Phone: +91- 80-7125 150 Email: investorservice@sagilityhealth.com Website: http://www.sagilityhealth.com/ |
Sagility India IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: sagility.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Sagility India IPO Lead Manager(s)
| 1. IIFL Securities Ltd 2. ICICI Securities Limited 3. Jefferies India Private Limited 4. J.P. Morgan India Private Limited |
Sagility India IPO FAQs
| What is Sagility India IPO? Sagility India IPO is a main-board IPO. The issue is priced at ₹28 to ₹30 per equity share. The IPO is to be listed on BSE & NSE. |
| When Sagility India IPO will open? The IPO is to open on 05 November 2024 for QIB, NII, and Retail Investors. |
| What is Sagility India IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Sagility India IPO? You can apply Sagility India IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Sagility India IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Sagility India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Sagility India IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Sagility India IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Sagility India IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Sagility India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Sagility India IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Sagility India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Sagility India IPO Size? Sagility India IPO size is ₹2,106.60 Crore. |
| What is the Sagility India IPO Price Band? Sagility India IPO Price Band is ₹28 to ₹30. |
| What is Sagility India IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 500 Shares with ₹15,000 amount while the maximum bid is 6500 Shares with ₹195,000. |
| What is the Sagility India IPO Allotment Date? Sagility India IPO allotment date is 08 November 2024. |
| What is the Sagility India IPO Listing Date? Sagility India IPO listing date is 12 November 2024. The IPO is to be listed on BSE and NSE. |
