Star Health Insurance IPO: Price, GMP, allotment date; all about Rakesh Jhunjhunwala-backed Star Health’s IPO

Star Health IPO Subscription: Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company is all set to launch its maiden IPO on Tuesday, November 30. The initial share sale is expected to fetch Rs 7,249.18 crore that comprises fresh issuance of shares worth Rs 2,000 crore and an offer for sale (OFS) of 5.83 crore equity shares by several shareholders. 

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

Star Health Insurance IPO Subscription Date:

The bidding for anchor investors will open on November 29. The IPO will become available for bidding from 30th November 2021. The three-day initial public offering (IPO) will conclude on December 2. 

Star Health Insurance IPO Price Band:

The price band of the IPO has been fixed at Rs 870-900 per equity share.

Star Health Insurance IPO Lot Size:

Investors can bid for a minimum of 16 equity shares and in multiples of 16 shares thereafter. Retail investors can invest a minimum of Rs 14,400 for a single lot, and their maximum investment would be Rs 1,87,200 for 13 lots (208 equity shares).

Star Health Insurance IPO Allotment Date: 

The tentative date for Star Health Insurance IPO share allocation is 7th December 2021.

Star Health Insurance IPO GMP:

Star Health and Allied Insurance Company’s shares fell in the grey market as its initial public offering drew closer. Star Health Insurance IPO grey market premium has come down from ₹70 to ₹30 losing more than 50 per cent, in the last three days.

Star Health Insurance IPO: Details

The IPO comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale of up to 58,324,225 equity shares by promoters and existing shareholders.

Those offering shares through the offer-for-sale 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.

The public offer includes a reservation of shares worth Rs 100 crore for employees. About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.

The equity shares of the company will be listed on the BSE and NSE.

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