Rakesh Jhunjhunwala-Backed Star Health IPO Opens November 30
Rakesh Jhunjhunwala-backed Star Health's initial public offer (IPO) will open for subscription on November 30, 2021.
The three-day IPOÂ will open on November 30 and conclude on December 2, 2021.
The much in focus public offer consists of fresh of equity shares worth Rs 2,000 crore and an offer for sale (OFS) of up to 58,324,225 equity shares by promoters and existing shareholders.
Entities offering shares through the OFS route include the promoter and promoter group — Safecrop Investments India LLP, Konark Trust, MMPL Trust and existing investors namely Apis Growth 6 Limited, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.
Star Health has fixed a price band of Rs 870-900 a share and at the upper end of the price band, the initial share sale is expected to fetch Rs 7,249.18 crore.
Proceeds from the fresh issue will be used for enhancing the company's capital base.
Star Health, a private health insurance company, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.
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