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Star Health and Allied Insurance Company Ltd IPO (Star Health IPO) Detail

November 30, 2021 - December 2, 2021

Star Health IPO is a book built issue of Rs 7,249.18 crores. The issue comprises of fresh issue of Rs 2,000.00 crore and offer for sale of 5.83 crore shares.

Star Health IPO bidding started from November 30, 2021 and ended on December 2, 2021. The allotment for Star Health IPO was finalized on Tuesday, December 7, 2021. The shares got listed on BSE, NSE on December 10, 2021.

Star Health IPO price band is set at ₹870 to ₹900 per share. The minimum lot size for an application is 16 Shares. The minimum amount of investment required by retail investors is ₹14,400.

The issue includes a reservation of up to 1,219,512 shares for employees offered at a discount of Rs 80 to the issue price.

Ambit Private Limited, Axis Capital Limited, Bofa Securities India Limited, Citigroup Global Markets India Private Limited, Clsa India Private Limited, Credit Suisse Securities (India) Private Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), ICICI Securities Limited, Iifl Securities Ltd, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the book running lead managers of the Star Health IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Star Health IPO RHP for detailed information.

Star Health IPO Details

IPO Date November 30, 2021 to December 2, 2021
Listing Date December 10, 2021
Face Value ₹10 per share
Price Band ₹870 to ₹900 per share
Lot Size 16 Shares
Total Issue Size[.] shares
(aggregating up to ₹7,249.18 Cr)
Fresh Issue[.] shares
(aggregating up to ₹2,000.00 Cr)
Offer for Sale58,324,225 shares of ₹10
(aggregating up to ₹5,249.18 Cr)
Employee Discount Rs 80 per share
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Star Health IPO Reservation

Star Health IPO offers 44,908,947 shares. 23,830,602 (53.06%) to QIB, 11,915,300 (26.53%) to NII, 7,943,533 (17.69%) to RII, 1,219,512 (2.72%) to employees. 496,470 RIIs will receive minimum 16 shares and (sNII) and (bNII) will receive minimum 224 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered23,830,602 (53.06%)NA
NII (HNI) Shares Offered11,915,300 (26.53%)
Retail Shares Offered7,943,533 (17.69%)496,470
Employee Shares Offered1,219,512 (2.72%)NA
Total Shares Offered44,908,947 (100%)

Star Health IPO Timeline (Tentative Schedule)

Star Health IPO opens on November 30, 2021, and closes on December 2, 2021.

IPO Open Date Tuesday, November 30, 2021
IPO Close Date Thursday, December 2, 2021
Basis of Allotment Tuesday, December 7, 2021
Initiation of Refunds Wednesday, December 8, 2021
Credit of Shares to Demat Thursday, December 9, 2021
Listing Date Friday, December 10, 2021
Cut-off time for UPI mandate confirmation 5 PM on December 2, 2021

Star Health IPO Lot Size

Investors can bid for a minimum of 16 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 16 ₹14,400
Retail (Max) 13 208 ₹187,200
Lot Size Calculator

Star Health IPO Promoter Holding

Safecrop Investments India LLP, Westbridge AIF I and Rakesh Jhunjhunwala are the company promoters.

Share Holding Pre Issue 66.22%
Share Holding Post Issue 58.42%

About Star Health and Allied Insurance Company Ltd

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

  • Largest private health insurance company in India with leadership in the attractive retail health segment.
  • Largest network distribution in the health insurance industry.
  • Diversified product suite with a focus on innovation and specialized products.
  • Strong risk management with superior claims ratio and quality customer services.
  • Demonstrated track record of operating and financial performance.

Company Financials

Summary of financial Information (Restated Consolidated)
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

Objects of the Issue (Star Health IPO Objectives)

The IPO aims to utilize the net proceed to augment the company's capital base and insolvency level.

Star Health IPO Review (Avoid)

[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...

Star Health IPO Subscription Status (Bidding Detail)

The Star Health IPO is subscribed 0.79 times on December 2, 2021 7:00:00 PM. The public issue subscribed 1.10 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)

CategorySubscription (times)

Star Health IPO Prospectus

Star Health IPO Rating

Rating:Rated 3.1 stars
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Star Health IPO Listing Details

Listing Date December 10, 2021
BSE Script Code 543412
ISIN INE575P01011
Final Issue Price ₹900 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Star Health and Allied Insurance Company Ltd Contact Details

Star Health and Allied Insurance Company Ltd
No.1, New Tank Street,Valluvarkottam High Road,
Nungambakkam, Chennai 600 034

Phone: +91 44 2828 8800

Star Health IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Star Health IPO FAQs

Star Health IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹7,249.18 Crores. The issue is priced at ₹870 to ₹900 per share. The minimum order quantity is 16 Shares.

The IPO opens on November 30, 2021, and closes on December 2, 2021.

Kfin Technologies Limited 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Star Health IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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 Shares, and the minimum amount required is ₹14,400.

You can apply in Star Health IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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 December 10, 2021.
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Star Health IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



361. RavinderG |   Link |January 13, 2022 9:21:03 PM
Glad I did not apply in this. Even now valuation looks high in the market.
360. Nishiket |   Link |December 24, 2021 1:43:26 PM
At what level is it advisable to enter this stock?
360.1. RavinderG |   Link |January 13, 2022 9:24:32 PM
I would wait till the next correction in the broader market. Till then wait and watch.
359. ipobull |   Link |December 10, 2021 9:52:41 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Jhunjhunwala ka khel khatam. It will list @ 845 on NSE. Will go down further very soon
359.16. Asoke sarkar |   Link |December 10, 2021 11:04:10 AM
IPO Mentor IPO Mentor (600+ Posts, 700+ Likes)
@ friends
Nothing is personal here.
Whosoever has confidence buy at this level of 900
Whosoever has no confidence short /sell at this level.
As a disclosure , I have covered a short sell bid at 886.8 , initiated at 928.8
I shall short again at 947.8/967.8 if got at all . Present set up shows huge chance of one more upward thrust. I shall buy it if differential price exceeds the desired level .No position to carry.

An ipo which cannot give 5% gain , can''t be a matter of discussion.

359.17. ipobull |   Link |December 14, 2021 10:42:57 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
@Amit and Montyy,
Have you now understood what I was telling with this RJ-promoted stock @ 860 well below its IPO price? If still not understood, please buy with hopes of some returns at least.
358. rsk |   Link |December 10, 2021 9:41:27 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
RJ has filed SAST on BSE that he holds 100753935 shares (17.5065%) of outstanding 575522174 shares.

There is no bulk/block trade disclosed so far.
RII + NII + QIBs were issued 31136560 shares = 5.41%
of which approximately 0.83% delivery on NSE/BSE
Anchors were issued 35745901 shares = 6.2% (lockin for 1 month)
357. StockTerminator |   Link |December 10, 2021 1:01:49 PM
IPO Mentor IPO Mentor (500+ Posts, 700 Likes)
Under subscribe tha to itna khula, full subscription hota to kaha pe jake khulta ye, overall splendid listing, RJ rocks
357.1. Secret Superstar |   Link |December 10, 2021 2:53:35 PM
सट्टा बाज़ार का सबसे बड़ा उदाहरण ..... जिसको 900 मे किसी ने नहीं लिया अब मार्केट मे 900 से ऊपर चल रहा है
357.2. J Rakesh |   Link |December 10, 2021 6:54:03 PM
It is kept up only by the punters otherwise it is to be fall below 450. wait for some time it will show the colour after another issue of metro backed by BIG PUNTER RJ
356. Jainvipul |   Link |December 8, 2021 3:46:08 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Final issue size reduced to 6400.44 cr
356.3. Shaktimaaaan |   Link |December 9, 2021 9:28:16 PM
Will it be profitable if we short star health stock tomorrow when it opens??
Experts please advise
356.4. NeoLongus |   Link |December 10, 2021 6:16:25 PM
Top Contributor Top Contributor (600+ Posts, 200+ Likes)
@arunARUN - Are you a merchant bankers or ECM lawyer?
355. Amit Chheda |   Link |December 10, 2021 10:09:10 AM
IPO Mentor IPO Mentor (700+ Posts, 900+ Likes)
Next gland pharma
355.1. ipobull |   Link |December 10, 2021 12:10:30 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Ha Ha Ha 🤣🤣🤣
355.2. Secret Superstar |   Link |December 10, 2021 2:52:34 PM
Gland Pharam QIB me 6 times subscribe hua tha
354. B.K. Singhania |   Link |December 10, 2021 12:30:10 PM
nice to see at ipo price now it will settle at this for atleast for 1 month so don''t get trapped
353. Arjun Rajkot |   Link |December 9, 2021 10:24:22 PM
IPO Guru IPO Guru (1000+ Posts, 1800+ Likes)
Listing 750-825

Very Scary---))))
353.1. Adu |   Link |December 10, 2021 12:57:10 AM
Welcome sir we were missing your expert opinion on recent ipo''s
353.2. RANA BVN. |   Link |December 10, 2021 12:02:00 PM
એલાં ભાઈ અર્જુન તમારા વગર બધું નકામું છે ક્યાં છો તમે ? ભલા માણસ પોસ્ટ કેમ નથી મૂકતા
352. VIjay Kumar Gopu |   Link |December 10, 2021 10:17:00 AM
Stock is trading at 940/-. Any thoughts from experts on what is the best rice to purchase?
352.5. DuckkyDuck |   Link |December 10, 2021 11:21:39 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
On lighter note.. Dont blind-buy any rice. It depends on what stock you have.
If you are invested in LT foods then buy Daawat rice. If invested in KRBL then buy Indiagate rice. :D
352.6. VIjay Kumar Gopu |   Link |December 10, 2021 11:41:19 AM
Instead of Stock traders, I see rice mill guys jumping in with their ideas.
351. gjy |   Link |December 10, 2021 9:50:19 AM
Listing as per GMP ( - 55 )
NSE = 845
351.4. Sachindian |   Link |December 10, 2021 11:10:19 AM
definite not -200
351.5. gjy |   Link |December 10, 2021 11:27:55 AM
That''s the reason why I have posted that listing as per GMP ( Expectation ) and not 700
350. Nexus |   Link |December 10, 2021 11:26:56 AM
This stock is moving in a very narrow range for the last 1 hour. Its just above the issue price of 900. Very unusual price (non-)movement just couple of hours since Listing. Seems like a managed show!
349. TradingforLife |   Link |December 10, 2021 11:12:21 AM
"Star Health dominates the sector with about 31% market share in retail health insurance in India. I think this kind of dominance in an industry which is poised to grow is very rare."
348. SMART RESEARCH |   Link |December 10, 2021 11:00:25 AM
Given a opportunity to exit
347. krupa |   Link |December 10, 2021 10:57:31 AM (800+ Posts, 500+ Likes)
Not bad at all

Good that ipo price ke up bhi bhav tika he

346. Regulagedda Ambica Prasad |   Link |December 10, 2021 10:19:19 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Quoting at 940. Risk was worth taking. Made only single application in retail.
345. TradingforLife |   Link |December 10, 2021 10:16:45 AM
Star Rocks everyone Shocks.
344. Cђøkdΐgสήg |   Link |December 10, 2021 9:35:43 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
If ye 20% bhi listing ke sath open ho jaye to me market chod dunga 🤣🤣🤣
344.1. Cautious ProPrio |   Link |December 10, 2021 9:55:15 AM
IPO Guru IPO Guru (1700+ Posts, 1000+ Likes)
And if operator game make it UC 20% ....
344.2. DuckkyDuck |   Link |December 10, 2021 10:14:06 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Chor do market ab.. 3% up.. dont know how is that possible..
Jab 900 par koi subscribe karne wale nahi the toh ab kaha se aa gaye??
343. lucky boy |   Link |December 10, 2021 10:09:06 AM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
star health above issue price-------- carry minati be like asmabhav bcccccccccccccccccccccccccccccc
342. Sachindian |   Link |December 8, 2021 2:50:36 PM
I am of the opinion that the QIBs have restricted themselves from applying because the experts had deemed it overpriced, the QIBs expected a discounted listing. They will be buying the script at discounted price after listing and it will get to the listing levels and above in short term
342.1. Sachindian |   Link |December 10, 2021 10:08:15 AM
As I said everyone is waiting for discounted listing so that they can buy, over valuation was hoax.