 "Markets may correct in the short term. But in a bull market the correction is always sharp, swift and short-lived: Rakesh Jhunjunwala")
Indian health insurance provider Star Health and Allied Insurance Co is aiming for a valuation of about $7 billion in its initial public offering, a banking source told Reuters on Wednesday.
Backed by ace Indian investor billionaire Rakesh Jhunjhunwala, it is looking to raise Rs 7,249 crore ($974.23 million) and has set a price band between Rs 870 and Rs 900 per share, according to a document from a bookrunner.
The offer will open for subscription on Nov. 30 and comes as several firms, including prominent startups, go public to cash in on booming Indian stock market amid massive liquidity and increased
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