Star Health IPO opens for subscription today; check details here

Star Health and Alliance Insurance Company is set to open its initial public offering (IPO) today, 30 November. The Star Health IPO is backe...

Star Health and Alliance Insurance Company is set to open its initial public offering (IPO) today, 30 November. The Star Health IPO is backed by ace investor Rakesh Jhunjhunwala.

Star Health will open for subscription at a price band of Rs 870-900 per share from today and will close on 2 December.

A day ahead of opening the issue for the public, Star Health claimed that it had raised a little over Rs 3,217 crore from anchor investors.

Through its maiden issue, the Star Health and Alliance Company plans to raise Rs 7,247 crore. The company has divided the IPO into two parts. First Rs 5,249 crore is set to be raised through an offer for sale, where 58,324,225 equity shares will be traded by the current promoters and shareholders. The remaining Rs 2,000 crore will be a fresh issue.

Those interested in investing in Star Health can make a bid for a minimum of 16 equity shares and in multiples of 16 shares. For a single lot, retail investors have to put in a minimum of Rs 14,400, while the maximum investment possible is Rs 1,87,200, which is equal to 208 equity shares.

So far, Star Health has reserved its shares worth Rs 100 crore for its employees. Along with the shares, nearly 75 percent of shares have been kept aside for skilled institutional buyers, while 15 percent of the shares have been allotted for non-institutional buyers. The remaining 10 percent will be reserved for retail buyers.

Star Health and Alliance Insurance Company is a Chennai-based firm that started operations in 2006. It is one of the leading private health insurers and has a market share of 15.8 percent (fiscal 2021).

The main focus of the company is the retail health market segment that comes with a wide range of flexible and comprehensive coverage options for retail health, group health, personal accident, and overseas travel being offered by the company.

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India World News: Star Health IPO opens for subscription today; check details here
Star Health IPO opens for subscription today; check details here
India World News
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