The AGS Health IPO has been announced and its dates are awaited, with the shares to list on the NSE and BSE. The issue size is ₹4800 crore. MUFG Intime India Pvt.Ltd is the registrar to the issue, and ICICI Securities Ltd., Jefferies India Pvt.Ltd., JM Financial Ltd., JP Morgan India Pvt.Ltd., Nomura Financial Advisory & Securities (India) Pvt.Ltd are the lead managers.
Incorporated in November 2010, AGS Health Limited is a technology-based company that provides healthcare Revenue Cycle Management (RCM) solutions for healthcare providers in the United States. The Company leverages AI technology, data analytics, and a specially developed global delivery model to assist health systems, hospitals, and large physician groups in optimizing their revenue cycles, reducing overheads, and increasing revenue realization.
The Company delivers solutions throughout the entire revenue cycle management chain, including patient access, insurance verifications, prior authorizations, clinical documentation, coding, billing, claims, denials, collections, and payment posting. The Company delivers end-to-end AI-based SaaS and technology-enabled solutions covering 80% of U.S. healthcare provider revenue cycle management processes. AGS Health is operated on a global delivery model with 15,895 employees located in India, the United States, and the Philippines as of March 31, 2026.
The employee pool comprises over 4,700 coders, clinical professionals, AI researchers, software engineers, and other specialized healthcare delivery professionals.
As described in the offer document.
BCP Asia II Topco VIII Pte.Ltd..
Work out the listing gain for this IPO
Applications are made through ASBA, where the money is blocked in your own bank account rather than paid, or through a UPI mandate for applications up to five lakh rupees. Through your broker's app, choose the issue, the number of lots and the price; bid at the cut-off price so that the application is valid whatever price the issuer finally fixes; and approve the UPI mandate that arrives from your bank.
Through net banking, the ASBA form in your bank's IPO section does the same without a broker. One application per PAN counts; a second application in the same name is rejected, though applications in family members' names with their own PANs and demat accounts are separate.
Retail applications are capped at two lakh rupees; above that you apply as a non-institutional investor, where allotment is proportionate rather than by lottery. The money stays in your account and earns interest until allotment, and the block is released on the allotment date if you receive nothing.
The expected listing premium, usually called the grey market premium, is the amount per share that unofficial dealers are quoting for the issue before it lists. It is a sentiment reading, not a price you can transact at, and it is not regulated by SEBI or the exchanges. It moves through the day, usually tracks subscription, and often changes sharply in the final hours before listing.
Rupix records every observation and shows the trend, as a percentage of the top of the price band so that issues of different sizes can be compared. It is one input, alongside subscription, the company's financials and the valuation the issue asks for, and it does not predict the listing price.
The issue size is ₹4800 crore.
On the registrar's website at https://in.mpms.mufg.com/Initial_Offer/public-issues.html, by PAN, application number or demat account, once the basis of allotment is published. The Rupix app can also check it by PAN.
Through your broker's app with a UPI mandate, or through your bank's net banking using ASBA. Bid at the cut-off price, approve the mandate, and the money stays blocked in your account until allotment. Rupix does not take applications.