Sagility India IPO: Adani, 360 ONE and others invest more than ₹360 crore ahead of public offer

2 min read | Updated on November 04, 2024, 10:14 IST

SUMMARY

Sagility India IPO: Among the investors that bought stakes in Sagility India are 360 ONE, which acquired a 1.07% stake for ₹150 crore, Avendus Future Leaders Fund II, which bought 0.9% shares for ₹126 crore, and Gautam Adani's family-owned Adani Properties, which picked up a 0.14% stake for ₹20 crore.

Sagility India IPO is an offer-for-sale of 70.22 crore shares without any fresh issue component.

Sagility India IPO: EQT Private Capital Asia's affiliate Sagility BV has raised over ₹360 crore by divesting a 2.61% stake in Sagility India to nine institutional investors before the latter's initial public offering.

Sagility India's IPO, a tech-enabled services provider in the healthcare sector, will open for subscription on November 5. The ₹2,106.60 crore issue, which will close on November 7, has fixed a price band of ₹28-₹30 per share.

Sagility BV, on October 30 and October 31, transferred equity shares worth ₹366 crore at ₹30 per share, Moneycontrol reported, citing a notice for investors published in newspapers.

Among the investors that bought stakes in Sagility India are 360 ONE, which acquired a 1.07% stake for ₹150 crore, Avendus Future Leaders Fund II, which bought 0.9% shares for ₹126 crore, and Gautam Adani's family-owned Adani Properties, which picked up a 0.14% stake for ₹20 crore.

Jasub Property Holdings, Elpro International, PAM Family Trust, Shradha Family Trust, Unmaj Ventures, Jaya Chandrakant Gogri and Rashesh Chandrakant Gogri, Uma Priyadarshini Kollareddy, and Kollareddy Ranganayakamma also purchased stakes in the company.

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This development comes ahead of the IPO opening for subscription for anchor investors on Monday, November 4.

Sagility India IPO: Key details

The initial share sale of the Bengaluru-based company is an offer-for-sale of 70.22 crore shares without any fresh issue component.

The company has reserved 75% of the issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors.

An interested investor can bid for at least 500 shares worth ₹14,000 and in multiples after that.

Sagility India offers technology-driven services to payers (US health insurance firms, which finance and reimburse the cost of health services), as well as providers (hospitals, physicians, and diagnostic and medical devices firms).

The company's revenue from operations during the financial year 2023-24 increased 12.7% to ₹4,753.56 crore compared to ₹4,218.41 crore in the previous fiscal. Profit after tax rose 50% to ₹228.27 crore as against ₹143.57 crore in the preceding year.

For the first quarter of the financial year 2024-25, revenue from operations stood at ₹1,223.33 crore and net profit at ₹22.29 crore.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

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