Sagility IPO Debuts On NSE With 3.53% Premium Over Issue Price Of ₹30 A Piece

Sagility India's shares made a quiet market debut, listing at Rs 31.06 on the NSE and BSE, 3.53 per cent higher than the issue price of Rs 30. On Tuesday, November 12,

The Rs 2,106.60 crore initial public offering (IPO) of Sagility India was available for subscription between November 5 and November 7. The price of each share in the public offering was between Rs 28 and Rs 30.

Lisitng gain

The robust listing also benefitted investors who were allotted IPO shares. Nine shares were the minimum bid amount for retail investors in the IPO. The IPO investors who bought at least one lot in the Sagility Ltd. issue would have made Rs 530 at the NSE listing price.

At the listing price of Rs 31.06, the single lot was valued at 15,530 (Rs 31.06 x 500), while at the issue price, it was valued at Rs 15,000 (500 x Rs 30).

Subscription for IPO

On the last day of bidding, the retail portion—which is a highly favoured segment—received a subscription rate of 4.15 times.

The section pertaining to Qualified Institutional Buyers (QIBs) received 3.52 subscriptions.

Additionally, on the final day of the initial public offering (IPO), the company's share portion for employees and non-institutional investors (NIIs) was subscribed for 3.75 times and 1.93 times, respectively.

Price band and minimum bid

The public offer, which had a price range of Rs 28 to Rs 30 per equity share, began on Tuesday, November 5 and concluded on November 7.

The initial share sale of the Bengaluru-based company, which excludes a fresh issue component, is offering 70.22 crore shares at a total value of Rs 2,106.60 crore.

Applications for equity shares worth at least Rs 14,000 can be submitted by investors. Retail investors will receive 10 per cent of the issue, non-institutional investors will receive 15 per cent, and qualified institutional buyers will receive 75 per cent.

Published on: Tuesday, November 12, 2024, 12:40 PM IST