Sagility shares hit 5% lower circuit as promoter launches Rs 2,671 crore stake sale via OFS
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Shares of Sagility India fell 5% to hit the lower circuit at Rs 40.7 on Tuesday on the BSE, after a promoter entity launched a stake sale worth up to Rs 2,671 crore through an offer-for-sale (OFS). Private equity firm EQT-backed Sagility B.V., a promoter of Sagility India, informed exchanges that it plans to offload shares worth up to Rs 2,671 crore ($314.7 million) via the OFS route. The offer opens for non-retail investors on May 27 and for retail investors on May 28. The base offer includes up to 346.13 million equity shares, representing a 7.39% stake. With an oversubscription option of 356.87 million shares, the total offer could rise to 703 million shares — or 15.02% of the company's outstanding equity. The floor price has been set at Rs 38 per share, an 11.4% discount to the 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 off...