Rakesh Jhunjhunwala's Star Health's IPO will open for subscription on November 30Rakesh Jhunjhunwala-backed Star Health's preliminary public deal (IPO) will open for membership on November 30, 2021.
The three-day IPO will open on November 30 and conclude on December 2, 2021.
The much in focus public offer consists of fresh of equity shares worth Rs 2,000 crore and a sell (OFS) of approximately 58,324,225 equity shares by promoters and existing shareholders.Entities using shares through the OFS route include the promoter and promoter group-- Safecrop Investments India LLP, Konark Trust, MMPL Trust and existing investors namely Apis Development 6 Limited, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.Star Health has actually repaired a cost band of Rs 870-900 a share and at the upper end of the rate band, the initial share sale is expected to fetch Rs 7,249.18 crore.Proceeds from the fresh problem will be used for boosting the business's capital base.Star Health, a personal health insurance business, is owned by a consortium of financiers like Westbridge Capital and Rakesh Jhunjhunwala.