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SAGILITY INDIA LTD: Sagility India Limited, a provider of technology-oriented business solutions and services to clients in the US healthcare industry, has launched its initial public offering at Rs. The price band for equity shares with face value of Rs 10 has been fixed at Rs 28 to Rs 30 per share.
The initial public offering (IPO) of the company will open for subscription on Tuesday, November 05, 2024 and close on Thursday, November 07, 2024. Investors can bid for a minimum of 500 equity shares and then bid in multiples of 500 equity shares. The IPO is an offer for sale of 702.20 million equity shares entirely by the promoter to selling shareholder Segility BV. An employee portion is reserved in the offer, with eligible employees having to bid Rs. Includes discount of 2.
Cegility India Limited is a full healthcare focused services company, and its customers include payers (U.S. health insurance companies, which finance and reimburse healthcare services) and providers (primarily hospitals, physicians, and diagnostic and medical device companies. ) Are included.
The company's services cover various aspects of payers' operations, including core benefits administration functions such as claims management, enrollment, benefit plan creation, premium billing, credentialing and provider data management and utilization management, care management and population health management such as Administrative work.
Services provided to providers include revenue cycle management functions such as financial approvals, medical coding, billing and accounts receivable follow-up services.
Additionally, it offers pharmacy benefit managers (PBMs) to partners in which the company manages prescription drugs for members (i.e., insured persons) under health insurance plans. It provides services from its five global service delivery locations in India, Philippines, US, Jamaica and Colombia through its capable talent pool, leveraging its tools and platforms as needed.
In fiscal year 2024, Segility helped payer customers process 105 million claims and manage more than 75 million member and provider interactions. There is no comparable list in India or abroad serving US healthcare enterprises. As of June 30, 2024, Segility employed 35,858 people, of whom 60.52% were women. By June 30, 2023, this number was 33,575.
Segility India's revenue from operations during FY2024 is expected to be Rs. 12.69% increase to Rs 4,218.41 crore. 4,753.56 crore, primarily due to increase in volumes from existing customers and addition of new SOWs during FY24. Profit after tax for FY 2023 is Rs. 143.57 crore, up by 58.99% for FY2024 to Rs. 228.27 crores. Income from operations for the three months ending June 30, 2024 is Rs. Rs 1,223.33 crore and profit after tax. 22.29 crores.
The offer is being made through a book-building process, with 75% of the net offer available for allocation to qualified institutional buyers on a proportionate basis, 15% of the net offer to non-institutional investors and 10% of the net offer to investors. Available for allocation. For retail individual bidders.