 "Star Health's Rs 7,250 crore IPO subscribed 12% on Day-1")
Star Health and Allied Insurance IPO was subscribed 12 per cent on Tuesday, the first day of the issue. The retail portion of the issue was subscribed 64 per cent.
A day earlier, Star Health allotted Rs. 3,217 crore worth of shares to 62 anchor investors at Rs 900 per share. GIC Singapore, Baillie Gifford, WF Asian and Valiant were among the biggest applicants in the anchor category.
Star Health’s IPO closes on Thursday. The total IPO issue size at Rs 7,250-crore is the third-biggest this year and 8th biggest ever to hit the domestic market.
The price band for the IPO is set at Rs 870-900 per share. At the top end, the company will be valued at Rs 51,806 crore. Star Health’s IPO comprises Rs 2,000 crore fresh fund raise and an offer for sale worth nearly Rs 5,250 crore.
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