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Star Health and Allied Insurance files DRHP for IPO of fresh shares-cum-OFS

Net proceeds from fresh issue amounting to Rs 2,000 cr will be used to boost company's solvency levels and capital

stock market, IPOs, investors, investments
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Subrata Panda Mumbai
The country’s largest standalone health insurer, Star Health and Allied Insurance, promoted by Safecrop Investments India, ace investor Rakesh Jhunjhunwala, and WestBridge AIF, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).

The public offering will consist of a fresh issue of shares aggregating to Rs 2,000 crore and an offer for sale of 60.1 million shares by existing shareholders. Safecrop Investments India is looking to sell 30.68 million shares, followed by Apis Growth which is looking to sell 7.68 million shares. Other

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First Published: Jul 22 2021 | 3:39 PM IST

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