Mon Nov 04 04:20:00 UTC 2024: ## Sagility India Secures ₹366 Crore in Pre-IPO Funding Ahead of ₹2,107 Crore IPO

**Bengaluru-based technology-enabled healthcare service provider Sagility India has successfully raised ₹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 company’s parent and a subsidiary of EQT Private Capital Asia, sold a 2.61% stake to nine institutional investors, including 360 ONE, Avendus Future Leaders Fund II, and Gautam Adani’s Adani Properties, which acquired a 0.14% stake for ₹20 crore.

**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 a minimum bid size of 500 shares. Investor allocation is set at 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

Sagility India provides technology-driven solutions for the US healthcare sector, catering to both insurance companies (payers) and healthcare providers. The company acquired BirchAI in March 2023, further strengthening its AI-powered customer support capabilities. As of March 31st, Sagility India employed 35,044 people, with 60.52% being women.

**The company reported impressive financial performance in FY24, with revenue reaching ₹4,753.56 crore (a 12.7% increase year-on-year) and profit after tax reaching ₹228.27 crore (a 50% rise).** Sagility India’s strong financial performance and pre-IPO fundraising signal a positive outlook for the company as it prepares for its public listing.

The IPO is being managed by ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India, with plans to list on the BSE and NSE.

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