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
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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.
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The floor price for the OFS is ₹38 per share, which is an 11–12% discount to the last closing price.
Timeline and Participation
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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.
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Trading is done through a special window on BSE as well as NSE on regular market days.
Market Reaction and Subscription
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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.
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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
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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
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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