Blackstone-Owned AGS Health Files $500 Million India IPO Papers
Blackstone-owned AGS Health has filed updated draft papers for a ₹48 billion ($504 million) initial public offering (IPO) in India, nearly two months after receiving approval from the market regulator for its listing. The proposed IPO includes a fresh issue of shares worth up to ₹18 billion and an offer for sale of shares worth up to ₹30 billion by Blackstone.
AGS Health, a revenue cycle management (RCM) company, provides services to U.S. hospitals and healthcare providers, helping them manage billing, insurance claims and payments. The company had confidentially filed for an IPO with the Securities and Exchange Board of India (SEBI) in April, with the proposed listing reportedly valuing it at around $3 billion.
For the financial year ended March 31, AGS Health reported a profit of ₹2.07 billion and revenue of ₹20.41 billion, according to the draft papers. The confidential filing route allows companies to receive regulatory feedback before publicly disclosing detailed IPO plans, giving them greater flexibility over the timing and terms of the listing.
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