Sagility India Raises Rs 945 Crore From Anchor Investors Prior To IPO Launch

Sagility India Ltd. raised Rs 945.4 crore from anchor investors on Monday ahead of its initial public offering. The company allotted 31.51 crore shares at Rs 30 apiece to 52 anchor investors.

ICICI Prudential Innovation Fund, Nomura Funds Ireland Public Ltd., Nomura Funds Ireland-India Equity Fund, and Government Pension Fund Global got the highest allocation of 7.88% each. ICICI Prudential Life Insurance Co. got the second highest allotment of 5.16% and HDFC Mutual Fund-HDFC Children Gift Fund got a 4.2% stake in the company, according to an exchange filing on Monday.

Eight domestic mutual funds have applied through twenty-six schemes. They have collectively netted 37.57% of the anchor portion, the technology-enabled business solutions said.

ICICI Prudential, HDFC, Mirae and Whiteoak Capital were among the top fund houses in this category. ICICI Securities Ltd., IIFL Securities Ltd., Jefferies India Pvt. and JP Morgan India Pvt. are the book-running lead managers to the issue.

Sagility India will launch its IPO on Tuesday to raise up to Rs 2,106 crore with a price band set at Rs 28–30 per share for its three-day IPO. The issue comprises only an OFS of 14.2 crore shares worth Rs 2,106 crore. The minimum application lot size is 500 shares.

The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.

The company will not receive any proceeds from the IPO as the issue consists solely of an OFS. The entire proceeds will be received by the promoter of Sagility India.