Sagility BV, a subsidiary of EQT Non-public Capital Asia, has raised ₹366 crore by promoting a 2.61 per cent stake in Sagility India to 9 institutional buyers, simply days earlier than the corporate’s upcoming IPO.
Adani group chairman Gautam Adani.(ANI)
The Bengaluru-based Sagility India, valued at ₹14,044 crore, is about to open its ₹2,107 crore IPO for subscription on November 5 with a worth band of ₹28-30 per share.
In a current disclosure, Sagility India confirmed that on October 30 and 31, Sagility BV offered 12.2 crore shares at ₹30 per share, elevating ₹366 crore in pre-IPO transactions with buyers like 360 ONE and Avendus Future Leaders Fund II. The Gautam Adani-owned Adani Properties additionally acquired shares, buying a 0.14 per cent stake for ₹20 crore.
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IPO particulars:
Concern construction: Fully an offer-for-sale (OFS) of 70.2 crore shares by Sagility BV.
Fund utilisation: The proceeds will go solely to the promoter, Sagility BV.
Subscription: Opens November 5, closes November 7.
Investor allocation: 75 per cent for certified institutional consumers, 15 per cent for non-institutional buyers, and 10 per cent for retail buyers. The minimal bid dimension is 500 shares.
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Sagility India is a technology-enabled service supplier for the US healthcare sector, presents options to each payers (insurance coverage corporations) and suppliers (hospitals, physicians, diagnostic corporations).
In March, Sagility acquired BirchAI, enhancing its AI-powered buyer help capabilities. As of March 31, the corporate had 35,044 workers, with 60.52 per cent being ladies.
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Monetary highlights:
FY24 income: ₹4,753.56 crore, up 12.7 per cent from the earlier 12 months.
Revenue after tax: ₹228.27 crore, a 50 per cent rise.
Q1 FY25 outcomes (ending June 30): ₹1,223.33 crore in income, ₹22.29 crore in revenue after tax.
Lead managers for the IPO are ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India, with plans to checklist shares on the BSE and NSE.