Star Well being IPO: What GMP alerts forward of challenge opening for subscription tomorrow


The three-day preliminary share-sale of Star Well being will open tomorrow, November 30 and conclude on December 2. The corporate has fastened a worth band of 870-900 a share for its preliminary public providing (IPO) and on the higher finish of the value band, the preliminary share sale is anticipated to fetch 7,249 crore.

Star Well being’s IPO includes recent challenge of fairness shares price 2,000 crore and a proposal on the market of as much as 58,324,225 fairness shares by promoters and current shareholders.

As per market observers, Star Well being shares premium (GMP) have fallen additional to 10 within the gray market at this time. The corporate plans to listing on main inventory exchanges BSE and NSE on December 10.

Proceeds from the recent challenge can be used to reinforce the corporate’s capital base. Star Well being, main personal well being insurer within the nation, is owned by a consortium of buyers like Westbridge Capital and Rakesh Jhunjhunwala.

At present, Safecrop Investments India LLP has a 47.77% stake, whereas Rakesh Jhunjhunwala and his spouse Rekha Jhunjhunwala maintain 14.98% and three.23% stake, respectively, within the firm. The proceeds from the problem can be deployed within the fiscal yr 2022 in the direction of the augmentation of its capital base.

Included in 2006, Star Well being and Allied Insurance coverage Firm Ltd (Star Well being) is among the largest personal well being insurers in India with a market share of 15.8% in Fiscal 2021. The corporate primarily focuses on the retail well being market phase. It provides a variety of versatile and complete protection choices for retail well being, group well being, private accident, and abroad journey.

The proposed IPO will make Star Well being the fourth personal sector insurance coverage supplier to listing on Indian inventory exchanges, following HDFC Life Insurance coverage Co. Ltd, ICICI Prudential Life Insurance coverage and ICICI Lombard Common Insurance coverage.

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