Saturday, May 21st, 2022

Rakesh Jhunjhunwala backed STAR HEALTH IPO to open on 30th November

The IPO of Rakesh Jhunjhunwala’s Star Health will open for subscription on November 30. Star Health’s Initial Public Offer (IPO) backed by Rakesh Jhunjhunwala will open for subscription on November 30, 2021. The three-day IPO will open on November 30 and end on December 2, 2021.

The focus public offer consists of an offer for sale (OFS) of new equity shares of Rs 2,000 crore and 58,324,225 equity shares by promoters and existing shareholders.

Entities offering shares through OFS route include promoters and promoter groups – Safecrop Investments India LLP, Konark Trust, MMPL Trust and existing investors such as 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 Meenu Desai.

STAR HEALTH IPO Star Health has fixed a price band of Rs.870-900 per share and is expected to fetch Rs.7,249.18 crore from the opening share sale at the upper end of the price band.

The proceeds from the new issue will be used to enhance the capital base of the company. Star Health, a private health insurance company, is owned by a consortium of investors such as Westbridge Capital and Rakesh Jhunjhunwala.