Sagility Stock Jumps 5% as Promoters Offload Rs 3,600 Crore Stake
Sagility India Ltd. recently saw a 5% uptick in its stock value as the company’s promoters plan to divest a stake valued at Rs 3,600 crore. This significant move involved trading approximately 17% of the company through 11 block deals on the open market.
Sagility’s Stake Sale Details
The promoter, Sagility BV, is set to sell 469 million equity shares under a base offer totaling up to Rs 2,176 crore. Additionally, there is an option to upsize by another 300 million shares, amounting to Rs 1,392 crore. The floor price for the shares is established at Rs 46.40 each, reflecting an 8% discount from the previous day’s closing price of Rs 50.44 on the National Stock Exchange (NSE).
Brokerage and Lock-Up Period
IIFL Capital Services Ltd. serves as the sole broker and placement agent for this sale. Notably, the promoter will face a 180-day lock-up period on their remaining equity post-transaction.
Current Ownership and Investor Composition
- Sagility BV’s stake decreased from over 82% to 67.38% as of September.
- Foreign investors hold 5.59% of Sagility’s shares.
- Domestic institutional investors account for 14.88% ownership.
Company Performance
Sagility provides technology-enabled services to U.S. health insurance providers and healthcare professionals. In the latest financial reports, the company announced a 25% year-on-year increase in consolidated revenue, reaching Rs 1,659 crore in the September quarter. Furthermore, its net profit rose significantly by 84%, totaling Rs 301 crore. An interim dividend of Rs 0.05 per share for FY 26 was also declared.
