Sagility India Limited IPO Details

Key Takeaways from Sagility India Limited IPO:

• Sagility India IPO offered 98.45 crore shares at a face value of Rs 10 each.
• The IPO opened for subscription on November 5, 2024, and closed on November 7, 2024.
• Allotment for the Sagility India IPO is expected to be finalised on November 8, 2024, with listing on BSE and NSE scheduled for November 12, 2024.
• ICICI Securities, IIFL Securities, Jefferies India, and J.P. Morgan India are the book-running lead managers, while Link Intime India is the registrar.

The allotment for the Sagility India IPO is anticipated to be finalised on Friday, November 8, 2024. The IPO is scheduled to list on the BSE and NSE, with the tentative listing date set for Tuesday, November 12, 2024.

The book-running lead managers for the Sagility India IPO are ICICI Securities Limited, IIFL Securities Ltd, Jefferies India Private Limited, and J.P. Morgan India Private Limited, while Link Intime India Private Ltd is the registrar for the issue.

About Sagility India Limited:

Sagility India Limited is a leading provider of transformative healthcare solutions, combining advanced technology with deep expertise in healthcare. The company offers a wide range of services, including clinical management, member engagement, provider solutions, claims cost containment, and data analytics. Sagility helps healthcare payers, providers, labs, and pharmaceutical companies optimize their operations and improve patient and member experiences. With over 25,000 employees across five countries, Sagility is committed to driving business transformation and operational excellence. The company’s headquarters is located in Bengaluru, India, and it operates globally to support healthcare organizations in achieving better outcomes.

Key Takeaways from the Announcement

• HZL was issued a penalty of ₹2.99 crore along with a tax demand and applicable interest by the Central Excise & CGST Commissionerate.
• The matter relates to tax payments on inward supplies under the Reverse Charge Mechanism for FY 2017-18.
• HZL anticipates no significant financial effect from the order, given its confidence in the appeal process. 

The order dated November 7, 2024, received on November 8, 2024, imposes a penalty of ₹2.99 crore along with tax and applicable interest. It relates to the case of payment of tax under the Reverse Charge Mechanism on inward supplies made during FY 2017-18.

HZL will approach the Appellate Authority by filing an appeal under GST Law, with merits to support a favourable outcome. HZL believes it has no material financial impact from this order and is confident of success in its appeal.

About Hindustan Zinc

Hindustan Zinc was established in 1966, and it is the second-largest zinc producer in the world. The company also stands as the third-largest silver producer in the world, with an annual capacity of 800 MT. The headquarters of the company is in Zinc City, Udaipur, and they have almost 75% of India's zinc market. Their operations cover all parts of Rajasthan, with zinc-lead mines and smelting complexes.

Key Takeaways from Vedanta’s Projects and Acquisition:

• Vedanta will expand the BALCO smelter by 435 KTPA to 1,015 KTPA with an investment of Rs 11,816 crore.
• Athena Power Plant has been approved for Rs 5,209 crore for a 1,200 MW power plant in Chhattisgarh, with the first unit due in FY 2025-26.
• Vedanta’s subsidiary Sesa Resources acquires 100% of Sterlite Iron and Steel for Rs 1 lakh.
• Projects will be funded through internal accruals and debt, aligning with Vedanta’s strategic growth plans.

The company has confirmed an expansion of Bharat Aluminium Company Limited's (BALCO) smelter capacity by 435 KTPA, increasing its total capacity to 1,015 KTPA. This expansion also includes the addition of wire rods and sow ingot capacities. The Rs 11,816 crore project will be funded through a combination of internal accruals and debt, with economic benefits expected to materialise from FY 2025-26.

In addition, Vedanta has approved Rs 5,209 crore in capital expenditure for the Athena Chhattisgarh Power Plant. The plant, which will feature two 600 MW units, is located in the Sakti district of Chhattisgarh. The first unit is scheduled to become operational in the first quarter of FY 2025-26, with the second unit to follow. This project will also be financed through a mix of internal funds and borrowed capital.

Finally, Vedanta’s subsidiary, Sesa Resources Limited (SRL), has acquired 100% of Sterlite Iron and Steel Company Limited (SISCOL) for Rs 1 lakh. This acquisition is part of Vedanta’s broader strategy to simplify its corporate structure. Following the acquisition, SISCOL will become a step-down subsidiary of Vedanta Limited.

About Vedanta Limited:

Vedanta Limited is a leading natural resource and technology conglomerate dedicated to driving India's growth and self-reliance. Focused on sustainable development, Vedanta is committed to operational excellence, innovation, and creating value for all stakeholders. With a diverse portfolio spanning aluminium, zinc, oil and gas, iron ore, copper, power, and more, the company plays a pivotal role in shaping India's future. Through initiatives like Nand Ghar, Vedanta supports social impact projects including child welfare, healthcare, education, and women’s empowerment. With a strong focus on sustainability, Vedanta strives to contribute to a greener economy while enhancing the lives of millions.

Key Takeaways from the Announcement

• BEL secured over ₹500 crore in additional orders, boosting its total order accumulation to ₹8,194 crore for FY24.
• The orders include advanced defence and communication equipment, reinforcing BEL’s position in the sector.

This substantial order adds to BEL’s impressive portfolio for the current fiscal year, taking the total order accumulation to ₹8,194 crore.

The new orders include a diverse range of critical defence and communication equipment, such as Laser Range Finders, vessel communication and support systems, communication equipment, test equipment for guns, spares, and various associated services.

About Bharat Electronics Limited:

Founded in 1954, Bharat Electronics Ltd. specialises in manufacturing and supplying electronic equipment and systems for the defence sector, with a smaller presence in the civilian market.