Sagility India Share Price Hits Lower Circuit Limit As Promoter Plans Stake Sale
Sagility BV, has proposed selling up to 34,61,32,843 shares, which accounts for 7.39% of the total paid-up equity share capital.
Sagility India Ltd.'s share price hit the lower circuit limit as it fell by 5.02% on Tuesday following the announcement that the company's promoter plans to sell a 7.39% stake via an offer for sale. The floor price for the offer is set at Rs 38 per share.
Sagility India, an end-to-end healthcare BPO, revenue cycle management, and clinical support services company, is seeing significant market activity as non-retail bidding for the offer begins on Tuesday.
The promoter, Sagility BV, has proposed selling up to 34,61,32,843 shares, which accounts for 7.39% of the total paid-up equity share capital of the company.
Sagility India Share Price Today
The scrip fell as much as 5.02% to Rs 40.71 apiece, it pared losses to trade at the same level as of 09:31 a.m. This compares to a 0.89% decline in the NSE Nifty 50.
It has risen 38.88% in the last 12 months. Total traded volume so far in the day stood at 6.4 times its 30-day average. The relative strength index was at 42.
All six 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 44.9%.
