Sagility India Promoter To Exercise Oversubscription Option, Offer Size Rises

Sagility India Ltd. Tuesday said its promoter, Sagility B.V., will exercise the oversubscription option in its offer for sale to sell an additional 356.87 million shares, representing a 7.62% stake.

This is in addition to the base offer of 346.13 million shares or 7.39% stake, taking the total offer size to up to 703 million shares, or 15% of the company, the firm said in an exchange filing.

Of the total shares, 70.30 million will be reserved for retail investors on Wednesday, subject to valid bids.

On Monday, the promoter had proposed selling up to 346.13 million shares with an option to sell an extra 356.87 million shares. The floor price for the offer is ₹38 per share, at a 10.5% discount to Friday’s closing price of ₹42.45.