The IPO Of Star Health Receives More Than 3,200 Million Rupees From Anchor Investors - Viral Bake
Business

The IPO Of Star Health Receives More Than 3,200 Million Rupees From Anchor Investors

Star Health has chosen to distribute 3,57,45,901 share capital to 62 anchor investors at a price of 900 each, for a total of 3,217.13 crores, according to a circular posted on the BSE’s website.

Ahead of its first public offering (IPO) on Tuesday, Star Health and Allied Insurance said Monday that it has secured about 3,217 crores from the company’s anchor investors.

Star Health has chosen to distribute 3,57,45,901 equity shares to 62 anchor investors at a price of 900 each, for a total of 3,217.13 crores, according to a circular posted on the BSE’s website.

The government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, and others are among the main investors in the company.

Shares have also been allocated to SBI Life Insurance Company, HDFC Life Insurance Company, and Edelweiss Mutual Fund.

News agency PTI reports that Star Health’s initial public offering includes a fresh equity issuance of 2,000 crore shares and an agreement to sell up to 58,324,225 equity shares by the company’s founders and existing shareholders. December 2 will be the deadline for the IPO to conclude.

Additionally, the Chennai-based health insurance business has reserved a stake of 100 crores for its staff in its public offering. On December 10, Star Health plans to be listed on both the BSE and NSE.

[ Also Read: Upcoming IPOs in India Will Raise ₹ 19,000 Crore: See the Full Lists of IPOs ]

“As compared to ICICI Lombard, STAR’s 8.2x Sep 2021 BV valuation is more favorable to us, as we believe STAR will continue to expand at a significantly greater pace and maintain a reasonable ROE in the post-Covid period of time, compared to ICICI Lombard. As a long-term investment, we advocate subscribing to this issue “According to a report on Tuesday, Nirmal Bang said in its IPO letter. A group of investors, including Westbridge Capital and Rakesh Jhunjhwala, owns the firm.

Varsha

I Varsha Chhirolya having an experience in digital marketing of 5 years, I am an account manager in CREATIVE Ad Agency.

Related Articles

Back to top button

AdBlocker Detected

Please Disable Adblock To Proceed & Used This Website!