Shares of Sagility India Ltd hit the 5% lower circuit at ₹40.72 on Tuesday after its promoter Sagility B.V. initiated a large-scale offer for sale (OFS) to dilute stake and comply with SEBI’s minimum public shareholding requirement.
Sagility B.V., which currently holds 82.39% in the company, aims to offload up to 15.02% equity (70.2 crore shares) via the OFS. The base offer consists of 34.6 crore shares (7.39% stake) worth ₹1,314.8 crore, while the green shoe option allows for an additional 35.6 crore shares (7.62%), taking the total OFS size to ₹2,760.1 crore at the floor price.
The floor price has been set at ₹38 per share, which is a steep 12.8% discount to Monday’s closing price of ₹42.87.
The OFS will be conducted over two days — with bids from non-retail investors invited today (May 27), and retail investor participation scheduled for May 28. Of the total offer, 10% is reserved for retail investors, while mutual funds and insurance companies will be allocated 25% of the shares.
The additional green shoe option will be exercised only if there is oversubscription in the base offer, which market participants expect is likely.
The share sale is a regulatory move aimed at ensuring Sagility meets SEBI’s 25% minimum public shareholding norm.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
