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 Star Health IPO - All You Need To Know

The initial public offering of Rs 7,249 crore (IPO) from Star Health and Allied Insurance Company will be available from November 30 to December 2, 2021. It has a price range of Rs 870-900 per share.

The initial public offering (IPO) of Star Health and Allied Insurance Company will open for subscription on Tuesday, November 30, 2021 at a price band of Rs 870-900 per share. The offer will be available until Thursday, December 2, 2021.

    Star Health IPO GMP

    Star Health is a leading private health insurer in the country, owned by a consortium of investors such as Westbridge Capital and Rakesh Jhunjhunwala.

    Through the offer, Star Health aims to raise Rs 7,249.18 crore. The IPO involves a new issue of equity shares worth Rs 2,000 crore and an offer-for-sale (OFS) of up to 58,324,225 equity shares by promoters and existing shareholders.

    Through the OFS, those offering shares are promoter and promoter group - Safecrop Investments India LLP, Konark Trust, MMPL Trust - and existing investors - Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame DU LAC, Mio Star, ROC Capital Pty Ltd , Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.

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    Star Health IPO Price Value

    It has a price range of Rs 870-900 per share.

    Star Health IPO Subscription Status

    The Star Health IPO reserved 75 percent for qualified institutional buyers (QIBs) and 15 percent for non-institutional investors (NIIs). The remaining 10 percent of the issue is available to retail investors.

    The proceeds of the new issue will be used to increase the company's capital base and maintenance of solvency levels, according to the information in the Red Herring Prospectus (RHP).

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    Investors wishing to subscribe to Star Health IPO can bid in a bunch of 16 equity stocks and multiples thereafter. At the top price range, they will pay Rs 14,400 to get a single lot Star Health and Allied Insurance Company. The shares will be listed on both the BSE and the National Stock Exchange (NSE).

    Applicants should also note that the cut-off time for UPI mandate confirmation is Friday, December 3, 2021, until 12:00 p.m. If they fail to do so, their application may not be considered.

    Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, ICICI Securities, CLSA India, Credit Suisse Securities (India), Jefferies India, Ambit, DAM Capital Advisors, IIFL Securities and SBI Capital Markets are the main players. managers to the offer while KFin Technologies is the registrar of the issue.

    Upon listing, Star Health will join other listed insurance companies such as SBI Life Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and ICICI Lombard General Insurance Company.

    Before you go to the IPO, the bid for anchor investors will be open today, November 29th.

    As Per Market Experts: “As a result of the Covid pandemic, awareness in the health insurance sector has increased and the retail health market segment is expected to emerge as a major growth driver for the overall health insurance industry in India. ”

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