Mumbai: Sagility India has secured an investment of ₹366 crore from a group of nine institutional investors, including Adani Properties.
This investment comes just days before the company’s highly anticipated ₹2,107 crore initial public offering (IPO), set to open on November 5.
Sagility BV, the parent company of Sagility India and an affiliate of EQT Private Capital Asia, sold a 2.61% stake in the company through this transaction. The shares were sold at ₹30 each, the upper end of the IPO price band12. Among the investors, 360 ONE and Avendus Future Leaders Fund II were notable participants, acquiring significant stakes.
The Gautam Adani-owned Adani Properties purchased a 0.14% stake for ₹20 crore. This strategic investment highlights the growing interest in Sagility India, a technology-enabled service provider for the US healthcare sector, known for its innovative solutions for insurance companies and healthcare providers.
Sagility India’s IPO will be entirely an offer-for-sale, with the promoter, Sagility BV, offloading 70.2 crore shares. The IPO aims to raise ₹2,107 crore, with the proceeds going solely to the promoter. The company, valued at ₹14,044 crore, reported a revenue of ₹4,753.56 crore for FY24, marking a 12.7% increase from the previous year.
The IPO will be open for subscription from November 5 to November 7, with shares expected to be listed on the BSE and NSE. This move is seen as a significant step for Sagility India as it continues to expand its footprint in the healthcare services sector.
