Reportedly Sagility india Limited's IPO has got a very weak listing on the stock exchange. The IPO with an issue price of Rs 30 got listed at Rs 31.06 at a premium of 3.53 percent. Currently, due to the return of buying in the stock from these levels, it is trading at Rs 32.21 with a jump of 7.80 percent. After the listing of Sagility india, the market cap of the company has crossed Rs 13600 crore.
Perhaps Sagility India's IPO opened on 5 november 2024 and 7 november was the last date to apply. The company has raised Rs 2106.60 crore from the market through IPO. The company had fixed the price band of the IPO at Rs 28-30 per share for a share with a face value of Rs 10. However, due to the ongoing selling by foreign investors in the indian stock market, the sentiment has deteriorated, due to which the IPO of Serenity india has to bear the brunt and only 3.20 times the IPO could be subscribed. In this, the retail investors category was subscribed 4.16 times, institutional investors quota (QIB) 3.52 times and the non-institutional investors category was subscribed 1.93 times. Serenity india provides solutions and services to American healthcare insurance companies.
Moreover the company supports the core business of both payers and providers. If we look at the financial performance of Serenity india, during the financial year 2023-24, the company's revenue has seen a jump of 13 percent and net profit 59 percent. In the financial year 2023-24, the revenue of Segility india has increased by 13% to Rs 4,781.5 crore from Rs 4,236.06 crore in the previous financial year. The net profit of the company has increased by 59% to Rs 228.27 crore from Rs 143.57 crore in the financial year 2022-23. In the first quarter of the current financial year 2024-25, April-June, the revenue was Rs 1,247.76 crore while the profit was Rs 22.29 crore.
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