Sagility India IPO: Technology solutions provider Sagility India has raised Rs 945 crore from anchor investors ahead of its initial public offering (IPO), which has opened for public subscription today. The company disclosed that it allocated 31.51 crore equity shares at Rs 30 each to these investors on November 4.
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Of the shares allocated, 11.84 crore were distributed to eight domestic mutual funds across 26 schemes, totaling approximately Rs 355 crore and representing about 37.57% of the anchor book. Participating institutions included HDFC Mutual Fund, ICICI Prudential, Nomura, and others.
In a prior announcement, Sagility reported a secondary sale of 12.20 crore shares, accounting for 2.61% of its pre-offer capital. Significant investors such as Avendus Future Leaders Fund II and 360 One Special Opportunities Fund participated.
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The IPO comprises an offer-for-sale of 70.22 crore shares by the promoter, Sagility B.V., with no new issuance. Consequently, Sagility India will not receive any funds from this issue, and a discount of Rs 2 is available for eligible employees.
The price band for the offer is set at Rs 28 to Rs 30 per share, potentially raising Rs 2,106.60 crore. The offer will allocate a minimum of 500 shares, primarily favoring institutional investors, and is managed by leading firms like ICICI Securities and IIFL Securities.
