JSA advised EQT on its pre-IPO sale of shares in Sagility India Limited, to multiple buyers including funds managed by 360 One (formerly IIFL Wealth), Avendus Future Leaders Fund II, Elpro International Limited, and Adani Properties Private Limited.
The Transaction Team included Lead Partners – Vikram Raghani and Anand Lakra, Principal Associate – Ami Shah and Senior Associate – Shubham Shahi.
Bengaluru-based healthcare services provider Sagility India raised ₹945.4 crore from 52 anchor investors ahead of its ₹2,107 crore initial public offering (IPO), which opens on November 5 and closes on November 7. The IPO is an offer-for-sale (OFS) of 70.2 crore equity shares by its Netherlands-based promoter, Sagility BV, an affiliate of EQT Private Capital Asia, with a price band of ₹28-30 per share. At the upper price band, Sagility India is valued at ₹14,044 crore.
Anchor investors include major domestic mutual funds, insurance companies, and global institutional investors, such as ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nomura Funds, and Goldman Sachs. The company will not receive any funds from the IPO, as the proceeds will go entirely to the promoter. The IPO’s book running lead managers include ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India. Sagility India serves the US healthcare industry, providing services to health insurance companies (payers) and healthcare providers like hospitals and physicians.
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