Sagility India IPO: Healthcare service provider raises nearly ₹945.4 crore via anchor investors ahead of public issue

Sagility India, the healthcare service provider firm, on Monday, said that it has raised around ₹945.4 crore from investors in its anchor round, ahead of the company's proposed initial public offering (IPO), according to the company's exchange filing.

As per the exchange filing, the company has allocated 31,51,34,668 or 31.51 crore equity shares to its anchor investors at an allocation price of ₹30 per share to 52 anchor investors at a face value of ₹10 per share. 

The anchor investor pool in Sagility India's public issue includes ICICI Prudential, HDFC Mutual Fund, Nomura, Government Pension Fund Global, Mirae Asset India, ICICI Prudential Life Insurance, Florida Retirement System, Whiteoak Capital, PGIM India, Edelweiss, among the total pool of 52 investors ahead of the public issue.

As per the filing data on Monday, ICICI Prudential Innovation Fund, at 7.88 per cent, HDFC Mutual Fund from three schemes taking over 4.20 per cent, 2.10 per cent, and 1.58 per cent, respectively, Nomura at 7.88 per cent, Government Pension Fund Global at 7.88 per cent, were some of the top anchor investors in the anchor issue.

The healthcare service provider also said that 37.57 per cent of the 31.51 crore shares were allocated to 8 domestic mutual funds through a total of 26 schemes, according to the exchange filing. 

Sagility India IPO Details:

Sagility is a healthcare-centric service provider that focuses on US health insurance companies financing and reimbursing the cost of health services. It also caters to providers like hospitals, physicians, and diagnostic and medical device companies.

The initial public offering is poised to open for subscription on Tuesday, November 5, and will close on Thursday, November 7. The company has set the price band at the range of ₹28 to ₹30 per equity share. 

The initial public offering (IPO) is tentatively expected to be listed on the BSE and NSE stock exchanges on Tuesday, November 12. As of November 4, the grey market premium (GMP) for the IPO fell to ₹0 from ₹3 a day before. 

Grey market premium is the willingness of an investor to pay more for a public issue.

The money raised from the IPO will go to the promoter selling shareholding, i.e. Sagility BV, and the company will not get any money raised from the public issue.