Star Well being IPO to open on November 30; units value band at ₹870-900/share

The general public provide features a reservation of shares value ₹100 crore for workers

The general public provide features a reservation of shares value ₹100 crore for workers

Star Well being and Allied Insurance coverage Firm on November 24 stated it has fastened a value band of ₹870-900 a share for its ₹7,249-crore preliminary public providing, which can open on November 30.

The three-day preliminary public providing (IPO) will conclude on December 2. The bidding for anchor traders will open on November 29, the corporate introduced.

The IPO includes contemporary problem of fairness shares value ₹2,000 crore and an offer-for-sale of as much as 58,324,225 fairness shares by promoters and current shareholders.

These providing shares via the offer-for-sale are promoter and promoter group — Safecrop Investments India LLP, Konark Belief, MMPL Belief — and current traders — Apis Progress 6 Ltd., Mio IV Star, College of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.

The general public provide features a reservation of shares value ₹100 crore for workers.

On the higher finish of the worth band, the preliminary share-sale is anticipated to fetch ₹7,249.18 crore.

Proceeds from the contemporary problem can be used to enhance the corporate’s capital base.

About 75% of the difficulty dimension has been reserved for certified institutional consumers (QIBs), 15% for non-institutional traders and the remaining 10% for retail traders.

Buyers can bid for no less than 16 fairness shares and in a number of thereof.

Star Well being, main personal well being insurer within the nation, is owned by a consortium of traders like Westbridge Capital and Rakesh Jhunjhunwala.

At current, SBI Life Insurance coverage Firm, HDFC Life Insurance coverage Firm, ICICI Prudential Life Insurance coverage Firm and ICICI Lombard Basic Insurance coverage Firm are the few insurance coverage corporations that are listed on the inventory exchanges.

Kotak Mahindra Capital Firm, Axis Capital, BofA Securities India, Citigroup International Markets India, ICICI Securities, CLSA India, Credit score Suisse Securities (India) Personal Restricted, Jefferies India, Ambit, DAM Capital Advisors and IIFL Securities are the service provider bankers to the difficulty.

The fairness shares of the corporate will likely be listed on the BSE and NSE.

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