{"id":5062,"date":"2021-11-24T09:46:13","date_gmt":"2021-11-24T04:16:13","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-star-health\/"},"modified":"2021-11-24T15:10:39","modified_gmt":"2021-11-24T09:40:39","slug":"biz-ipo-star-health","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-star-health\/","title":{"rendered":"Jhunjhunwala backed Star Health IPO to open on Nov 30 to raise Rs. 7249 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1623892529\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><span style=\"font-weight: 400;\">Star Health and Allied Insurance Company on Wednesday announced that it has fixed a price band of Rs 870-900 a share for its Rs 7,249-crore initial public offering, which will open on November 30. The three-day Star Health IPO or initial public offering will conclude on December 2.<\/span><\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1131070078\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><span style=\"font-weight: 400;\">The bidding for anchor investors will open on November 29, the company announced. Investors can bid for a minimum of 16 equity shares and in multiples thereof.<\/span><\/p><p><span style=\"font-weight: 400;\">Star Health is a leading private health insurer in the country that is owned by big bulls like Rakesh Jhunjhunwala and Westbridge Capital.<\/span><\/p><p><span style=\"font-weight: 400;\">According to the DRHP filed by the company, Star Health IPO comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale (OFS) of up to 58,324,225 equity shares by promoters and existing shareholders.<\/span><\/p><div class=\"trade-content_5\" id=\"trade-3938580626\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><span style=\"font-weight: 400;\">Those offering shares through the offer-for-sale are promoter and promoter groups including Safecrop Investments India LLP, Konark Trust, and MMPL Trust. The existing investors are 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.<\/span><\/p><p><span style=\"font-weight: 400;\">The equity shares of the company will be listed on the BSE and NSE. At the upper end of the price band, the initial share sale is expected to fetch Rs 7,249.18 crore.&nbsp;<\/span><\/p><p><span style=\"font-weight: 400;\">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.<\/span><\/p><p><span style=\"font-weight: 400;\">Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, ICICI Securities, CLSA India, Credit Suisse Securities (India) Private Limited, Jefferies India, Ambit, DAM Capital Advisors and IIFL Securities are the merchant bankers to the issue.<\/span><\/p><p><span style=\"font-weight: 400;\">Proceeds from the fresh issue would be used to augment the company\u2019s capital base.<\/span><\/p><p><span style=\"font-weight: 400;\">After the <a href=\"https:\/\/tradebrains.in\/ipo\/\">Initial Public Offering<\/a>, Star Health Insurance will join its peers <a href=\"https:\/\/portal.tradebrains.in\/stock\/SBILIFE\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">SBI Life Insurance Company<\/a>, <a href=\"https:\/\/portal.tradebrains.in\/stock\/HDFCLIFE\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">HDFC Life Insurance Company<\/a>,<a href=\"https:\/\/portal.tradebrains.in\/stock\/ICICIPRULI\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\"> ICICI Prudential Life Insurance Company<\/a> and&nbsp; <a href=\"https:\/\/portal.tradebrains.in\/stock\/ICICIGI\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">ICICI Lombard General Insurance Company<\/a> that are already listed on the stock exchanges.<\/span><\/p><div class=\"trade-content-10\" id=\"trade-1540004431\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-1252091255\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Star Health and Allied Insurance Company on Wednesday announced that it has fixed a price band of Rs 870-900 a share for its Rs 7,249-crore initial public offering, which will open on November 30. The three-day Star Health IPO or initial public offering will conclude on December 2. The bidding for anchor investors will open [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":5081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,1516],"tags":[1679,1675,1678,1677,1676],"class_list":["post-5062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-ipo","tag-star-health-ipo","tag-star-health-ipo-date","tag-star-health-ipo-news","tag-star-health-ipo-valuation","tag-star-health-share-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jhunjhunwala backed Star Health IPO to open on Nov 30 to raise \u20b97249 cr<\/title>\n<meta name=\"description\" content=\"According to the DRHP filed by the company, Star Health IPO 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