Sagility India plans Rs 2,107 cr IPO with price band of Rs 28-30/share

Sagility India Ltd, a technology-enabled services provider in the healthcare space, on Wednesday said it has fixed a price band of Rs 28-30 per share for its Rs 2,107 crore initial public offering (IPO). The initial share-sale will open for public subscription on November 5 and conclude on November 7, the company announced. The Bengaluru-based company's proposed IPO is entirely an offer for sale (OFS) of 70.22 crore shares, by promoter Sagility B V, worth Rs 2,106.60 crore at the upper end of the price band. The offer includes a reservation for subscription by eligible employees. Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire fund will go to the selling shareholders. The objective of the initial share-sale is to gain the advantages of listing the equity shares on stock exchanges, the company stated. Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity

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