Sagility India shares dipped over 5% on the National Stock Exchange and were locked in the lower circuit as offer-for-sale by one of the promoters goes live today. The company on Monday informed the exchanges that Sagility B.V. will offload 7.4% stake in the company by offering 346.13mn shares (base offer) during OFS at a floor price Rs 38 apiece. The floor price is 11% discount to Monday closing price on the National Stock Exchange.
The offer also includes oversubscription option of 356.87mn shares, representing 7.6% stake in the company. The OFS is being undertaken to meet the minimum public shareholding as prescribed by market regulator the Securities and Exchange Board of India. As of March 2025, shareholding of promoters and promoter group entities was over 82% in the company.
The offer is being undertaken on a separate window provided by the stock exchanges. Bidding for non-retail investors began today, while retail investors will be able to place their bids tomorrow.
The company had reported a 128% rise in consolidated net profit to Rs 182.57 crore for the March quarter, with sales up over 22% to Rs 1,568.48 crore. The stock has gained traction due to its niche in healthcare outsourcing. Analysts have cited robust growth prospects and non-discretionary spending in the sector.
Brokerage firm JM Financial had said that Sagility is expecting low to mid-teen growth in constant currency for its main business, per reports. Including the impact of its recent acquisition of BroadPath, its overall revenue growth is likely to be over 20%, the brokerage said, and added that it has a positive view on the stock. It has given a target price of Rs 71 for the stock.
ICICI Securities, on the other hand, said that the company's revenue and margin guidance for FY26 remains unchanged, and that is a positive sign even with concerns around US Medicaid spending cuts. The brokerage firm raised its target price for the stock to Rs 60, up from Rs 56.
