New Delhi, Nov 7 (PTI) The initial share sale of Sagility India Ltd, a technology-enabled services provider in the healthcare space, fetched 3.20 times subscription on the closing day of bidding on Thursday.

The initial public offering (IPO) got bids for 123,99,75,500 shares against 38,70,64,594 shares on offer, according to NSE data.

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The portion for Retail Individual Investors (RIIs) mopped up 4.16 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 3.52 times. The non-institutional investors part received 1.93 times subscription.

Sagility India Ltd on Monday said it has mobilised over Rs 945 crore from anchor investors.

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The issue has a price band of Rs 28-30 per share.

The Bengaluru-based company's IPO is entirely an offer for sale (OFS) of 70.22 crore shares worth Rs 2,106.60 crore at the upper end of the price band.

The entire proceeds from the public issue will go to the selling shareholders.

In March 2024, Sagility acquired BirchAI, a healthcare technology firm specialising in cloud-based generative AI technology.

This acquisition is expected to enhance member and provider engagement and reduce clients' operational costs through AI-powered customer support solutions using speech-to-text and large language models (LLMs) integrated with Sagility's engagement solutions.

ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India are the book-running lead managers to the issue.

The company's equity shares are proposed to be listed on the BSE and the NSE.

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