Star Health IPO share allotment standing: The preliminary public providing (IPO) of Star Health and Allied Insurance Company was subscribed 0.79 occasions of the 4.49 crore shares that have been on supply through the subscription interval from November 30-December 2, 2021. The worth band was mounted at Rs 870-900 per share.
Star Health IPO obtained bids of over 3.56 crore (3,56,02,544) shares in opposition to the overall concern dimension of over 4.49 crore (4,49,08,947) shares, knowledge obtainable with the National Stock Exchange (NSE) confirmed.
The shares that are to be allotted for the certified institutional consumers (QIBs) was subscribed 1.03 occasions, whereas these of non institutional traders was subscribed 0.19 occasions and that of retail particular person traders (RIIs) was subscribed 1.10 occasions. Separately, shares for the staff’ phase was subscribed 0.10 occasions, the information confirmed.
The Rs 7,249 crore Star Health IPO contains a recent concern of fairness shares value Rs 2,000 crore and an offer-for-sale (OFS) of as much as 58,324,225 fairness shares by promoters and current shareholders.
The proceeds from the recent concern will likely be used to reinforce the corporate’s capital base and upkeep of solvency ranges.
Star Health is a number one personal well being insurer within the nation, is owned by a consortium of traders like Westbridge Capital and Rakesh Jhunjhunwala.
On its itemizing, it’ll be part of different insurance coverage friends reminiscent of SBI Life Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and ICICI Lombard General Insurance Company.
Investors at the moment are trying ahead to the share allotment date of the Star Health IPO. The firm is meant to finalise the allotment by Tuesday, December 7, 2021, as per the timeline supplied within the purple herring prospectus (RHP). In case you’ve gotten utilized for the Star Health IPO, then right here is how one can examine the standing of your allotment when it will get declared:
The allotment standing will get up to date on the web site of the registrar of the IPO, which on this case is KFin Technologies (Click right here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants might want to choose STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED within the drop-down menu and enter both their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is proven in digits) and click on on Submit to view their allotment standing.
Apart from the registrar’s web site, candidates may examine the standing of their allotment on the web site of the BSE (Click right here: https://www.bseindia.com/investors/appli_check.aspx). Here, they might want to choose Equity in Issue Type, then choose STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED from the drop-down listing within the Issue Name part, enter their Application Number and PAN Number within the respective packing containers after which click on on search to view their standing.
The itemizing of shares of Star Health and Allied Insurance Company is more likely to happen on Friday, December 10, 2021, on each the NSE and BSE.
Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, ICICI Securities, CLSA India, Credit Suisse Securities (India), Jefferies India, Ambit, DAM Capital Advisors, IIFL Securities and SBI Capital Markets are the e-book working lead managers to the IPO.
