Star Health IPO subscribed 79% on day 3: Check latest GMP, expected listing gains


New Delhi: The initial public offering of Star Health and Allied Insurance Company Ltd has been subscribed 0.79 times on Thursday (December 2), the third and final day of the offer. 

The Qualified Institutional Buyers (QIBs) category was subscribed fully (103%) while the quota for Retail Individual Investors (RIIs) was subscribed 109%. The non-institutional investors’ portion had received 18 per cent subscription by day three. 

Star Health IPO GMP (Grey Market Premium) 

As of now, the current grey market premium of Star Health IPO shares is Rs 8. This means that at the upper end of the price band, the stock could list at a price of Rs 908, with a listing gain of 0.89%. But that may change soon after the dull demand of the Star Health IPO. 

Star Health’s IPO comprises a fresh issue of up to Rs 2,000 crore coupled with an offer for sale of up to 58,324,225 equity shares. The price range is Rs 870-900 per share. At the upper end of the price band, the company is expected to raise Rs 7,249.18 crore with the IPO. 

Star Health is planning to use the proceeds from the fresh issue will be used to augment the company’s capital base. The firm is currently owned by a consortium of investors such as Westbridge Capital and Rakesh Jhunjhunwala. The company is a leading private health insurer. 

SBI Life Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and ICICI Lombard General Insurance Company are among the insurance companies listed on the stock exchanges. Also Read: Book Uber via WhatsApp: Check how to book taxi using messaging platform in simple steps

Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, ICICI Securities, CLSA India, Credit Suisse Securities (India), Jefferies India, Ambit Private Limited, DAM Capital Advisors, IIFL Securities and SBI Capital Markets are the managers to the offer, reported PTI. Also Read: 3 major Banks in India have revised interest rates – Check new rates, maturity and other details


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