Rakesh Jhunjhunwala’s star health’s IPO to open next week

Rakesh Jhunjhunwala's star health's IPO to open next week
The vocal news

Ace investor Rakesh Jhunjhunwala-promoted Star Health and Allied Insurance Company have finally fixed a price band of Rs 870-900 per share for its initial public offer (IPO).

This public issue will open for subscription on November 30. It will close on December 2 and the anchor book may open for investors for a day on November 29 itself.

This IPO will see fresh issuance of shares worth Rs 2,000 crore. Also, there will be an offer for sale (OFS) of 5.83 crore equity shares by various shareholders.

The IPO will fetch Star Health Rs 7,249.18 crore at the upper price band. This will be the third-largest IPO in issue size in the current year 2021.

Moreover, the investors can bid for a minimum of 16 equity shares. The retail investors can also invest a minimum of Rs 14,400 for a single lot.

Star Health offers flexible and comprehensive coverage options for retail health, group health and overseas travel among others.

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala combined are the second-largest shareholders in the company with an 18.21 per cent stake.

The share allotment will get finalised by December 7. The successful investors will get shares in their demat accounts by December 9.


ALSO READ | Rakesh Jhunjhunwala Net Worth: Who Is He And How He Makes So Much Money?