Blackstone’s AGS Health Said to File for $500 Million India IPO

Blackstone Inc.-owned AGS Health Pvt. has filed draft paperwork for an initial public offering in Mumbai through the confidential route, according to people familiar with the matter.

The private equity firm is working with JM Financial Ltd, Jefferies Group LLP, ICICI Securities Ltd, JP Morgan and Nomura Holdings Inc. for the offering, which could raise as much as $500 million, the people said, asking not to be identified as the discussions are private. The proposed share sale is expected to comprise a mix of primary issuance and secondary stake sales by existing investors, the people said.