Sagility B.V. To Divest Up To 15% Stake In Sagility India Via Offer For Sale

Sagility India Ltd. on Monday said its promoter, Sagility B.V., will offload up to 346.13 million shares, or a 7.39% stake, in the company through an offer for sale. The promoter has also proposed an oversubscription option to sell up to another 356.87 million shares, equivalent to a 7.62% stake.

The floor price for the offer has been fixed at ₹38 per share, according to an exchange filing.

The offer opens for non-retail investors on Tuesday, while retail investors can place bids on Wednesday. Non-retail investors who opt to carry forward their unallotted bids will be allowed to participate again on Wednesday.

The stake sale is being undertaken to meet the minimum public shareholding norms, the company said. If the oversubscription option is not exercised, the shares under the base offer size will be considered as the offer shares, and will be available for bidding through a separate window on the NSE and BSE, it added.