Star Well being and Allied Insurance coverage set to open IPO at November 30


  • The well being insurer’s IPO is seeking to elevate ₹7,249 crore by the general public challenge of shares.
  • The IPO consists of a contemporary challenge of shares value ₹2,000 crore and a proposal on the market of 5.83 crore shares by current promoters and shareholders.
  • Star Well being and Allied Insurance coverage IPO will open on November 30 and shut on December 2.

Medical insurance firm Star Well being and Allied Insurance coverage, which is backed by marquee buyers like Rakesh Jhunjhunwala and Westbridge Capital, is all set to open its preliminary public providing (IPO) subsequent week.

The corporate is seeking to elevate ₹7,249 crore by the general public challenge of shares. The worth band of the IPO is ₹870-900 per share.

The IPO consists of a contemporary challenge of shares value ₹2,000 crore and a proposal on the market of 5.83 crore shares by current promoters and shareholders.

Listed below are some vital dates of the IPO:

Challenge particulars
Worth band ₹870 to ₹900
IPO open date November 30
IPO shut date December 2
Allotment date December 7
Initiation of refunds December 8
Credit score of shares to demat account December 9
IPO itemizing date December 10
Minimal lot 16

Safecrop Investments India LLP, APIS Development 6, College of Notre Dame DU LAC, MIO IV Star, MIO Star, ROC Capital, Sai Satish, Venkatasamy Jagannathan, Konark Belief, Berjis Minoo Desai and MMPL Belief are the entire shareholders promoting shares within the IPO. The web proceeds from the contemporary challenge will probably be utilised in direction of augmentation of the corporate’s capital base and upkeep of solvency ranges.

The non-public well being insurer has a market share of 15.8% within the Indian medical health insurance market as of economic yr 2021. As of September 30, 2021, it has a distribution community of 779 medical health insurance branches unfold throughout 25 states and 5 union territories in India.

The well being insurer has made a loss for the primary time in three years in FY21 whereas income continues to rise.

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance set to open its IPO next week — here are a few important details
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