Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company will finalise allotment of shares post its initial public offering (IPO) today. The IPO closed on December 2. The issue was subscribed 79% on the last day. The IPO received bids for 3,56,02,000 shares against 4,49,08,947 shares on offer, according to an update on the BSE.
The portion for retail investors was fully subscribed at 1.1 times , while that for qualified institutional buyers was subscribed 1.03 times. The category for non-institutional investors received 19 per cent subscription. The issue opened on November 30.
The share sale had a price band of Rs 870-900 per share.
On November 29, the insurance firm raised a little over Rs 3,217 crore from anchor investors. The company decided to allocate a total of 3,57,45,901 equity shares to 62 anchor investors at Rs 900 apiece, aggregating to Rs 3,217.13 crore.
The IPO comprised fresh issue of equity shares worth Rs 2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders.
The IPO's lot size was 16 shares for which would have to spend Rs 14,400. A retail-individual investor could apply for up to 13 lots or 208 shares by spending Rs 187,200.
The firm will make its debut on BSE and NSE on December 10. There are two routes through which one can check the allotment status. Investors can visit the Bombay Stock Exchange (BSE) website or the IPO registrar's website.
Stock exchange website
Step 1: Visit the official BSE website.
Step 2: On the BSE homepage, click on 'Equity'. A dropdown menu will appear. Select 'Star Health and Allied Insurance Company'.
Step 3: Enter your application and PAN number.
Step 4: After entering the details, click on 'Search'.
After clicking on the 'Search' button, details of the number of shares subscribed and the number of shares allotted to you will be displayed.
Registrar of the share share sale is KFin Technologies Private Limited.
Go the website of the registrar.
Select IPO (Star Health and Allied Insurance Company)
b) Enter either Application Number, or DPID/Client ID, or PAN Number
c) Enter the Captcha and click on Submit
Star Health and Allied Insurance Company is among the largest private health insurers in India with market share of 15.8% in fiscal 2021. The company focuses on the retail health and group health segments which accounted for 89.3% and 10.7% of the company's total gross Gross Written Premium GWP in fiscal 2021 respectively.
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