Company Overview:
Sagility India Limited, formerly recognized as Berkmeer India Private Limited, is a key player in healthcare solutions and services, focusing particularly on the U.S. healthcare market. The company provides support to two main client categories:
- Payers: These are health insurers in the U.S. who fund and manage reimbursements for healthcare services. Sagility aids payers through a wide range of operational solutions, including streamlined claims management, payment accuracy, and clinical oversight services.
- Providers: This group encompasses hospitals, physicians, diagnostic labs, and medical technology firms. For these clients, Sagility offers revenue cycle management solutions that assist with billing and claims processes, ensuring providers receive accurate and timely reimbursements from payers.
Service Spectrum
- For Payers: Sagility offers claims processing, payment validation, and clinical management services. Pharmacy Benefit Managers (PBMs), responsible for managing prescription coverage, are also supported by these services.
- For Providers: Sagility’s revenue cycle management services are designed to help healthcare providers effectively handle billing, claims, and payments.
Client Base and Growth
- U.S.-Based Clients: The company serves only U.S. clients, including five of the largest ten payers in the country, as of January 2024.
- Long-Term Relationships: Sagility's top five client groups have been associated with the company for an average of 17 years, reflecting strong, lasting partnerships.
- New Client Acquisition: Over the past two financial years (FY 2023 and FY 2024), Sagility added 20 new clients, indicating a stable growth trend.
Purpose of the Offer
This offering is structured solely as an "offer for sale," meaning that Sagility will not directly benefit financially from the proceeds. Instead, the funds will be directed to the shareholders who are selling their stakes in the company as part of this offer.
Promoter Holding
Sagility India Limited is primarily held by its promoters, Sagility B.V. and Sagility Holdings B.V., who currently own 100% of the company's pre-issue shares.
Summary of Financial Information:
| Period Ended | 30-Jun-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|---|
| Assets | 10,388.01 | 10,664.20 | 10,590.48 | 10,096.28 |
| Revenue | 1,247.76 | 4,781.50 | 4,236.06 | 944.39 |
| Profit After Tax | 22.29 | 228.27 | 143.57 | -4.67 |
| Net Worth | 7,608.16 | 6,443.13 | 6,206.67 | 4,026.62 |
| Reserves and Surplus | 2,704.28 | 1,855.44 | 4,013.38 | 2,073.80 |
| Total Borrowing | 943.91 | 1,933.52 | 2,347.94 | 4,239.23 |
Comparison with Listed Peers:
The company mentioned that, given its dedicated focus on the healthcare sector and its service to both payer and provider markets, there are no comparable listed service providers within India or internationally that match its scale and business model directly.
Key IPO Details:
- IPO Dates: 5 to 7 November, 2024
- Price Band: Rs. 28 to Rs. 30 per share
- Lot Size: 500 shares
- Total Issue Size: Rs. 2,106.60 crores (100% OFS)
- Retail Quota: 10%
- Listing Date: 12th Nov 2024
- GMP: Nil (as of now, For informational purposes only)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
