The public offering will be abbreviated as IPO. It is expected that the shares of good companies will be able to buy less as it is being issued for the first time in the stock market.
Star health Insurance and Allied Insurance, the promoter of Rakesh Jun Junwala, also known as warren buffett of india, is set to issue shares worth Rs 7,249.18 crore.
When to start
Star health Insurance and Allied Insurance is set to issue its shares on november 30th. This release ends on december 2nd.
Star health is the largest private health insurance company in India. According to the Crisil report, in fiscal 2021, it will hold 15.8% of the total health insurance market share through GWP and 31.3% of the same retail health insurance market.
Stock pricing
The stock has a price tag of Rs 870-900 per share issue. The sale of the company's current shareholders in this new IPO will be a combination of the new IPO.
Promoters including Star health and Allied Insurance Company Safecrop Investments india LLP, KONARK Trust & MMPL Trust are expected to sell their stake.
Stock Sellers
Other investors selling shares include Apis Growth 6 Ltd, Mio IV Star, university of Notre Dame Du Lac, Mio Star, ROC capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Bergis Minu Desai.
New stock issue value
The IPO includes a new issue of Rs 2,000 crore worth of equity shares and a sale offer (OFS) worth Rs 5,249 crore to the company's current shareholders.
In addition, Rs 100 crore worth of shares may be allotted to the employees of this company.
What is the lot size?
75% of this issue is reserved for Qualified Institutional Buyers (QIBs). 15% is reserved for non-institutional investors (NIIs) and the remaining 10% for retail investors.
Investors can bid on at least 16 equity shares and their multiples. From the funds raised through the new share issue, the company plans to expand its operations.
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