The promoter of Sagility Ltd., a technology-enabled healthcare services company, has offered to sell shares worth nearly Rs 3,600 crore via open market transactions on Friday.
Sagility BV will offload 469 million equity shares under the base offer of up to Rs 2,176 crore, with an upsize option of 300 million shares worth Rs 1,392 crore, according to a termsheet accessed by NDTV Profit.
The floor price is set at Rs 46.40 per share, an 8% discount to Thursday's closing price of Rs 50.44 on the NSE.
IIFL Capital Services Ltd. is the sole broker and placement agent in the deal.
The promoter will be subject to a 180-day lock-up of remaining equity after the block deal. Sagility BV held a 67.38% stake as of September, after paring its stake from over 82% earlier this year. The company is owned by New York-based private equity firm EQT Capital.
Foreign investors have a shareholding of 5.59% in Sagility, while domestic institutions own 14.88%.
The company offers technology-enabled services to US health insurance companies (payers) and healthcare providers like hospitals and physicians.
Sagility reported a 25% year-on-year rise in consolidated revenue at Rs 1,659 crore in the September quarter. Net profit jumped 84% to Rs 301 crore. It announced an interim dividend of Rs 0.05 per share for FY 26.
Shares of Sagility settled 2.4% lower, ahead of the news, compared to a flat benchmark Nifty 50. The stock has risen nearly 77% since its listing in November 2024. The current market capitalisation stands at Rs 23,600 crore.
All seven analysts tracking the company maintained a 'buy' rating for the stock, according to Bloomberg data. The average 12-month consensus price target implies an upside of 27%.
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