Mon Nov 04 11:38:25 UTC 2024: ## Sagility India Raises ₹366 Crore in Pre-IPO Sale, Sets IPO Date for November 5

**Bengaluru-based Sagility India, a technology-enabled service provider for the US healthcare sector, has secured ₹366 crore in pre-IPO funding just days before its upcoming public offering.** The company, valued at ₹14,044 crore, will open its ₹2,107 crore IPO for subscription on November 5th, with a price band of ₹28-30 per share.

Sagility BV, the subsidiary of EQT Private Capital Asia and the company’s promoter, sold a 2.61% stake in Sagility India to nine institutional investors, including 360 ONE, Avendus Future Leaders Fund II, and Gautam Adani’s Adani Properties. The transaction, which took place on October 30th and 31st, saw 12.2 crore shares sold at ₹30 per share.

**The IPO, entirely an offer-for-sale (OFS) of 70.2 crore shares by Sagility BV, will see the proceeds go solely to the promoter.** The subscription period will run from November 5th to November 7th, with allocation reserved for qualified institutional buyers (75%), non-institutional investors (15%), and retail investors (10%). The minimum bid size is 500 shares.

Sagility India provides solutions to both payers (insurance companies) and providers (hospitals, physicians, and diagnostic companies) in the US healthcare sector. The company acquired BirchAI in March, bolstering its AI-powered customer support capabilities. With 35,044 employees, 60.52% of whom are women, Sagility India has reported strong financial performance. Its FY24 revenue reached ₹4,753.56 crore, up 12.7% from the previous year, with a profit after tax of ₹228.27 crore, a 50% increase.

**ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India are the lead managers for the IPO, with plans to list shares on the BSE and NSE.**

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