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Star Health Insurance IPO - Open Till December 2



Star Health and Allied Insurance Company's IPO will open for subscription on Tuesday, November 30, 2021, at a price range of Rs 870-900 per share. The IPO will be open till December 2, 2021.


Star Health, the country's largest private health insurance, is controlled by a group of investors including Westbridge Capital and Rakesh Jhunjhunwala.


Star Health hopes to collect Rs 7,249.18 crore through the offering. The IPO consists of a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale (OFS) by promoters and current shareholders of up to 58,324,225 equity shares.


Promoters and promoter groups — Safecrop Investments India LLP, Konark Trust, MMPL Trust — as well as 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 — are all offering shares through the OFS.


Qualified institutional buyers (QIBs) account for 75% of the Star Health IPO, while non-institutional investors account for 15%. (NIIs). Retail investors have access to the remaining 10% of the offering.


According to the red herring prospectus, the proceeds from the new offer will be utilised to increase the company's capital base and maintain solvency standards.


Investors interested in subscribing to the Star Health IPO might do so in lots of 16 equity shares and then in multiples. They would pay Rs 14,400 for a single lot of Star Health and Allied Insurance Company at the top of the price scale. Both the BSE and the National Stock Exchange will list the shares (NSE).


According to the RHP, the share allocation is planned to take place on December 7, 2021, and the shares are expected to be listed on December 10, 2021.

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