Star Health IPO struggles to get subscribed, mops up only 20% by Day-2 end

Not even a single domestic institutional investor has applied for the IPO so far, data disclosed by stock exchanges shows

Star Health and Allied Insurance Company’s IPO is struggling to garner bids for its Rs 7,250-crore, the eight biggest in the domestic market. The offering was subscribed 20 per cent on Wednesday, a day before its close.

Bulk of the bids in any IPO came on the final day, however, the subscription patterns suggest the country’s largest private health insurer could struggle to reach the 100 per cent subscription.

For one, not even a single domestic institutional investor (DII) has applied for the IPO so far, data disclosed by stock exchanges shows. Majority of the bids have come from retail