Sagility India Hits Lower Circuit; Promoter to Sell 15% Stake

Shares of Sagility India Ltd hit its lower circuit today as the parent company is expected to sell 15.02% of the company’s stake via the offer for sale (OFS) and meet minimum public shareholding norms. The stock fell to its lower limit at ₹40.72, down 28% from December high of ₹56.44.

The company is expected to sell 3,46,132,843 equity shares, equal to 7.39% of the company’s total paid-up equity share capital. If fully exercised, the oversubscription option will increase the offering to 7,03,00,000 shares, making up 15.02% of the total paid-up capital.

The OFS has opened for non-retail investors today, following which bidding will open for retail investors on May 28.

On constant currency terms, the company expects a low to mid-teen organic growth for FY26. The overall revenue growth is set to exceed 20%, while factoring in the acquisition of BroadPath.

“The company mentioned that its typical seasonality (H2 stronger than H1) will be further accentuated by the consolidation of BroadPath, which exhibits even more pronounced second-half seasonality," JM Financial stated. "The anticipated 1.5–2 per cent cannibalization from AI has already been factored into the growth guidance, and management expects this impact to rise to 4–5 per cent over the next 2–3 years.”

ICICI Securities, in a note dated May 16, commented: “The company has maintained its FY26 revenue growth and margin guidance, which is reassuring amid concerns over potential Medicaid spending cuts by the US government. We maintain our BUY rating with a revised target price of Rs 60 (up from Rs 56), based on an unchanged one-year forward P/E multiple of 26x.”