Ahead of IPO, Sagility India Collects Rs 945 Crore From Anchor Investors

New Delhi: Sagility India Ltd, a technology-enabled services provider in the healthcare services space, on Monday said it has mobilised over Rs 945 crore from anchor investors, a day before its initial share-sale opening for public subscription. Nomura Funds Ireland, Government Pension Fund Global, Florida Retirement System - Allspring Global Investments, LLC (EMSC), Amundi Funds New Silk Road, and Goldman Sachs (Singapore) Pte are among the top anchor investors, according to a circular uploaded on the BSE website. 

Additionally, ICICI Prudential Mutual Fund (MF), HDFC MF, Motilal Oswal MF, Max Life Insurance Co Ltd, and ICICI Prudential Life Insurance Company have participated in the anchor round. As per the circular, Sagility India has allotted 31.51 crore equity shares to 52 funds at Rs 30 apiece. This aggregates the transaction size to Rs 945.40 crore. 

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Of the total allocation of shares to the anchor investors, 11.84 crore were allocated to eight domestic mutual funds through 26 schemes. The issue, with a price band of Rs 28-30 per share, will open for public subscription on November 5 and conclude on November 7. The Bengaluru-based company's proposed IPO is entirely an offer for sale (OFS) of 70.22 crore shares, by promoter Sagility BV, worth Rs 2,106.60 crore at the upper end of the price band. Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire fund will go to the selling shareholders. 

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