Bookbuilding IPO | ₹6,019 Cr | Listed at BSE, NSE | Tue, Nov 30, 2021 - Thu, Dec 2, 2021
Star Health IPO is a book build issue of ₹6,018.68 crores. The issue is a combination of fresh issue of 2.22 crore shares aggregating to ₹2,000.66 crores and offer for sale of 4.47 crore shares aggregating to ₹4,018.03 crores.
Star Health IPO bidding started from Nov 30, 2021 and ended on Dec 2, 2021. The allotment for Star Health IPO was finalized on Dec 7, 2021. The shares got listed on BSE, NSE on Dec 10, 2021.
Star Health IPO price band is set at ₹900 per share. The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,400 (16 shares) (based on upper price). The lot size investment for sNII is 14 lots (224 shares), amounting to ₹2,01,600, and for bNII, it is 70 lots (1,120 shares), amounting to ₹10,08,000.
The issue includes a reservation of up to 1,12,592 shares for employees offered at a discount of ₹80.00 to the issue price.
Ambit Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Star Health IPO RHP for detailed Information.
IPO Open
Tue, Nov 30, 2021
IPO Close
Thu, Dec 2, 2021
Issue Price
₹900 per share
Market Cap (Pre-IPO)
₹51,797.00 Cr
| IPO Date | 30 Nov to 2 Dec, 2021 |
| Listed on | Fri, Dec 10, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹870 to ₹900 |
| Issue Price | ₹900 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹80.00 |
| Total Issue Size | 6,68,82,461 shares (agg. up to ₹6,019 Cr) |
| Fresh Issue | 2,22,32,230 shares (agg. up to ₹2,001 Cr) |
| Offer for Sale | 4,46,50,231 shares of ₹10 (agg. up to ₹4,018 Cr) |
| Share Holding Pre Issue | 55,32,89,944 shares |
| Share Holding Post Issue | 57,55,22,174 shares |
| BSE Script Code / NSE Symbol | 543412 / STARHEALTH |
| ISIN | INE575P01011 |
Star Health IPO comprises a total issue size of 7,11,25,997 shares. The net offer to the public is 7,10,13,405 shares, after excluding 1,12,592 shares under a preferential allotment. Of the Net offer 6,02,39,357 (84.83%) are allocated to QIB, 22,67,392 (3.19%) allocated to NII 85,06,656 (11.98%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 6,02,39,357 | 84.83% | 84.69% | NA |
| − Anchor Investor Shares Offered | 3,57,45,901 | 50.26% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 2,44,93,456 | 34.44% | NA | |
| NII (HNI) Shares Offered | 22,67,392 | 3.19% | 3.19% | NA |
| Retail Shares Offered | 85,06,656 | 11.98% | 11.96% | 5,31,666 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,12,592 | 0.16% | NA | |
| Total Shares Offered | 7,11,25,997 | 100.00% | 100.00% | |
Investors can bid for a minimum of 16 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,400 |
| Retail (Max) | 13 | 208 | ₹1,87,200 |
| S-HNI (Min) | 14 | 224 | ₹2,01,600 |
| S-HNI (Max) | 69 | 1,104 | ₹9,93,600 |
| B-HNI (Min) | 70 | 1,120 | ₹10,08,000 |
Star Health IPO raises ₹3,217.13 crore from anchor investors. Star Health IPO Anchor bid date is November 29, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Nov 29, 2021 |
| Shares Offered | 3,57,45,901 |
| Anchor Portion (₹ Cr.) | 3,217.13 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 6, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 7, 2022 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2006, Star Health and Allied Insurance Company Ltd is one of the largest private health insurers in India with a market share of 15.8% in Fiscal 2021. The company primarily focuses on the retail health and group health segments which accounted for 89.3% and 10.7% of the company's total GWP in Fiscal 2021 respectively.
The company mainly distributes policies through individual agents and also includes corporate agent banks and other corporate agents. As of Sep 31, 2021, its network distribution includes 779 health insurance branches across 25 states and 5 union territories in India. Star Health has also built one of the largest health insurance hospital networks in India with more than 11,778 hospitals.
Competitive strengths
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmentation of the Company’s capital base |
The Star Health IPO is subscribed 0.79 times on December 2, 2021 7:00:00 PM (Day 3). The public issue subscribed 1.1 times in the retail category, 1.03 times in the QIB category, and 0.19 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.03 | 2,38,30,602 | 2,44,93,456 |
| NII | 0.19 | 1,19,15,300 | 22,75,616 |
| Retail | 1.1 | 79,43,533 | 87,15,408 |
| Employee | 0.1 | 12,19,512 | 1,18,064 |
| Total | 0.79 | 4,49,08,947 | 3,56,02,544 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 83.19 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Bank and fee payable to the Sponsor Bank for Bids made by RIBs.Brokerage and selling commission and bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs | 2.99 |
| 3 | Fees payable to the Registrar to the Offer | 0.06 |
| 4 | Fees payable to the other advisors tothe Offer | 2.83 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 13.21 |
| 6 | Printing and stationery | 1.53 |
| 7 | Advertising and marketing expenses | 9.63 |
| 8 | Fee payable to legal counsels | 8.76 |
| 9 | Miscellaneous | 1.25 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹900.00 | ₹900.00 |
| Open | ₹848.80 | ₹845.00 |
| Low | ₹827.50 | ₹828.00 |
| High | ₹940.00 | ₹940.00 |
| Last Trade | ₹906.85 | ₹906.85 |
Lead Manager Reports
Star Health IPO is a main-board IPO of 6,68,82,461 equity shares of the face value of ₹10 aggregating up to ₹6,019 Crores. The issue is priced at ₹900 per share. The minimum order quantity is 16.
The IPO opens on Tue, Nov 30, 2021, and closes on Thu, Dec 2, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Star Health IPO using UPI as a payment gateway. Zerodha customers can apply in Star Health IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Star Health IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Star Health IPO opens on Tue, Nov 30, 2021 and closes on Thu, Dec 2, 2021.
Star Health IPO lot size is 16, and the minimum amount required for application is ₹14,400.
You can apply in Star Health IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Star Health IPO will be done on Tuesday, December 7, 2021, and the allotted shares will be credited to your demat account by Thu, Dec 9, 2021. Check the Star Health IPO allotment status.
The Star Health IPO listing date is on Fri, Dec 10, 2021.
