Sagility B.V., a promoter entity of Sagility India, plans to sell shares worth up to Rs 2,671 crore ($314.7 million) via block deals on Tuesday, according to a term sheet issued by IIFL Capital, the deal’s arranger.
The base offer comprises up to 346.13 million equity shares, representing a 7.39% stake in the company. An oversubscription option of 356.87 million shares could take the total offer size to 703 million shares — or as much as 15.02% of Sagility’s outstanding equity capital.
The floor price for the offer is set at Rs 38 per share, reflecting an 11.4% discount to the stock’s last closing price of Rs 42.87 on the NSE as of May 26.
At the floor price, the base offer is valued at Rs 1,315 crore ($154.9 million), while the full offer could fetch up to Rs 2,671 crore ($314.7 million). The entire transaction is a secondary sale, with no fresh issue of shares.
Sagility India, a provider of business process management services, launched its Rs 2,106 crore IPO in November last year, which was subscribed over three times. That issue, too, was entirely an offer-for-sale of 702.2 million shares by Sagility B.V. The promoter group currently holds an 82.39% stake in the company.
The base offer comprises up to 346.13 million equity shares, representing a 7.39% stake in the company. An oversubscription option of 356.87 million shares could take the total offer size to 703 million shares — or as much as 15.02% of Sagility’s outstanding equity capital.
The floor price for the offer is set at Rs 38 per share, reflecting an 11.4% discount to the stock’s last closing price of Rs 42.87 on the NSE as of May 26.
At the floor price, the base offer is valued at Rs 1,315 crore ($154.9 million), while the full offer could fetch up to Rs 2,671 crore ($314.7 million). The entire transaction is a secondary sale, with no fresh issue of shares.
Sagility India, a provider of business process management services, launched its Rs 2,106 crore IPO in November last year, which was subscribed over three times. That issue, too, was entirely an offer-for-sale of 702.2 million shares by Sagility B.V. The promoter group currently holds an 82.39% stake in the company.
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