Sagility B.V. Exercises Oversubscription Option in Sagility India OFS, Unlocking Up to 15% Stake Sale

Updated: May 27, 2025 17:37

Image Source: The Economic Times

Sagility B.V., the sponsor of Sagility India, has opted for the oversubscription facility in its current Offer for Sale (OFS), opening the door to sell up to 15.02% of its holding in the firm. The action is part of a larger strategy to adhere to SEBI's minimum public shareholding requirements and coincides with strong investor appetite and recent strong financial results by Sagility India.

OFS Structure and Oversubscription Option

The OFS consists of a base offer of 34.61 crore shares (7.39% of equity) and an oversubscription option of another 35.69 crore shares (7.62%), taking the overall potential divestment to 70.3 crore shares or 15.02% of Sagility India's equity.
The floor price for the OFS is ₹38 per share, which is an 11–12% discount to the last closing price.

Timeline and Participation

The OFS opened for non-retail investors on May 27, 2025, and for retail investors on May 28, 2025. Non-retail investors are also allowed to carry forward unallotted bids to the next day.
Trading is done through a special window on BSE as well as NSE on regular market days.

Market Reaction and Subscription

The disclosure prompted a sudden drop in the share price of Sagility India to the 5% lower circuit of ₹40.72 on May 27, 2025.
On the first day itself, OFS witnessed strong demand, with the subscriptions for 223.72% of the base non-retail offer size till 4:00 p.m. (T-1 Day) reflecting high institutional interest.

Regulatory and Strategic Rationale

The sale of stake is mainly with a view to complying with SEBI's minimum shareholding requirement of 25% by listed companies. As of March 2025, Sagility B.V. owned 82.39% of the equity of Sagility India, well over the permissible promoter shareholding.

Financial Performance and Outlook

Sagility India recorded a 127% year-on-year increase in net profit at ₹182.57 crore and a 22% jump in revenue at ₹1,568.5 crore for the March 2025 quarter, drawing investor attention
The company’s stock has gained over 65% since its November 2024 debut, although it is currently down 28% from its December 2024 high due to the OFS-related pressure.

Analysts remain positive on Sagility India’s long-term prospects, citing its niche in healthcare outsourcing and resilient demand in the US healthcare market.

Sources: Business Standard, CNBC TV18, Angel One, Upstox, Economic Times, Business Today

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