FOREX
Sagility India shares debut 3.53% higher
Shares of Sagility India Ltd, a technology-enabled services provider in the healthcare space, on Tuesday listed with a premium of 3.53 per cent against the issue price of ₹30.
The stock made its debut at ₹31.06, up 3.53 per cent from the issue price on both the BSE and NSE. Later, it jumped 7.2 per cent to ₹32.16 on the BSE.
The company's market valuation stood at ₹15,059.83 crore. The initial share sale of Sagility India Ltd fetched 3.20 times subscription on the closing day of bidding on Thursday.
The initial public offering (IPO) had a price band of ₹28-30 per share. The Bengaluru-based company's IPO was entirely an offer for sale (OFS) of 70.22 crore shares worth ₹2,106.60 crore at the upper end of the price band.
In March 2024, Sagility acquired BirchAI, a healthcare technology firm specialising in cloud-based generative AI technology.
This acquisition is expected to enhance member and provider engagement and reduce clients' operational costs through AI-powered customer support solutions using speech-to-text and large language models (LLMs) integrated with Sagility's engagement solutions.
