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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 ₹900.00 per share . The lot size for an application is 16. The minimum amount of investment required by an retail is ₹13,920 (16 shares). 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 Date | November 30, 2021 to December 2, 2021 |
| Listing Date | December 10, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹870 to ₹900 per share |
| Issue Price Final | ₹900 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 6,68,82,461 shares (aggregating up to ₹6,018.68 Cr) |
| Fresh Issue | 2,22,32,230 shares (aggregating up to ₹2,000.66 Cr) |
| Offer for Sale | 4,46,50,231 shares of ₹10 (aggregating up to ₹4,018.03 Cr) |
| Employee Discount | ₹80.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 55,32,89,944 shares |
| Share Holding Post Issue | 57,55,22,174 shares |
Star Health IPO offers total 7,11,25,997 shares. Out of which 6,02,39,357 (84.69%) allocated to QIB, 2,44,93,456 (34.44%) allocated to QIB, 22,67,392 (3.19%) allocated to NII, 85,06,656 (11.96%) allocated to RII and 3,57,45,901 (50.26%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 6,02,39,357 (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%) | NA |
| Retail Shares Offered | 85,06,656 (11.96%) | 5,31,666 |
| Employee Shares Offered | 1,12,592 (0.16%) | NA |
| Total Shares Offered | 7,11,25,997 (100.00%) |
| 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 |
Star Health IPO raises ₹3,217.13 crore from anchor investors. Star Health IPO Anchor bid date is November 29, 2021. Star Health IPO Anchor Investors list
| Bid Date | November 29, 2021 |
| Shares Offered | 3,57,45,901 |
| Anchor Portion Size (In Cr.) | 3,217.13 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 6, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 7, 2022 |
Star Health IPO opens on November 30, 2021, and closes on December 2, 2021.
| IPO Open Date | Tue, Nov 30, 2021 |
| IPO Close Date | Thu, Dec 2, 2021 |
| Tentative Allotment | Tue, Dec 7, 2021 |
| Initiation of Refunds | Wed, Dec 8, 2021 |
| Credit of Shares to Demat | Thu, Dec 9, 2021 |
| Tentative Listing Date | Fri, Dec 10, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 2, 2021 |
Investors can bid for a minimum of 16 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 30-Sep-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 49,749.42 | 21,008.88 | 44,665.72 | 18,967.69 | 16,426.35 |
| Total Revenue | - 4,946.80 | 3,343.05 | - 9,077.76 | 4,619.61 | 2,262.54 |
| Profit After Tax | - 3,802.69 | 1,992.87 | - 8,255.81 | 2,680.02 | 1,282.26 |
The IPO aims to utilize the net proceed to augment the company's capital base and insolvency level.
[Dilip Davda] The company has suffered a severe setback for the last 18 months working and based on its negative earnings, the issue appears aggressively priced. Its P/E cannot be ascertained due to negative EPS for the last one and half yearsââ‚-â„¢ financial data. Investors should not get carried away due to the 10% quota for the Retail investors. There is no harm in ignoring this issue. You may get a chance to buy at discount post listing. Read detail review...
| Listing Date | December 10, 2021 |
| BSE Script Code | 543412 |
| NSE Symbol | STARHEALTH |
| ISIN | INE575P01011 |
| Final Issue Price | ₹900 per share |
| BSE Listing Group | B |
Star Health & Allied Insurance Co.Ltd.
No.1, New Tank Street,Valluvarkottam High Road,
Nungambakkam, Chennai 600 034
Chennai, Tamil Nadu
Phone: +91 44 2828 8800
Email: investors@starhealth.in
Website: http://www.starhealth.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: starhealth.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
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 ₹6,018.68 Crores. The issue is priced at ₹900 per share. The minimum order quantity is 16.
The IPO opens on November 30, 2021, and closes on December 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 November 30, 2021 and closes on December 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 Thursday, December 9, 2021. Check the Star Health IPO allotment status.
The Star Health IPO listing date is on Friday, December 10, 2021.
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