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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.
| 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 Sale | 58,324,225 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 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 Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 23,830,602 (53.06%) | NA |
| NII (HNI) Shares Offered | 11,915,300 (26.53%) | |
| Retail Shares Offered | 7,943,533 (17.69%) | 496,470 |
| Employee Shares Offered | 1,219,512 (2.72%) | NA |
| Total Shares Offered | 44,908,947 (100%) |
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 |
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 | |||
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% |
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...
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)
| Category | Subscription (times) |
|---|---|
| QIB | 1.03 |
| NII | 0.19 |
| Retail | 1.10 |
| Employee | 0.10 |
| Total | 0.79 |
| Listing Date | December 10, 2021 |
| BSE Script Code | 543412 |
| NSE Symbol | STARHEALTH |
| ISIN | INE575P01011 |
| Final Issue Price | ₹900 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹900.00 |
| ₹848.80 |
| ₹827.50 |
| ₹940.00 |
| ₹906.85 |
| NSE |
|---|
| ₹900.00 |
| ₹845.00 |
| ₹828.00 |
| ₹940.00 |
| ₹906.85 |
Star Health and Allied Insurance Company Ltd
No.1, New Tank Street,Valluvarkottam High Road,
Nungambakkam, Chennai 600 034
Phone: +91 44 2828 8800
Email: investors@starhealth.in
Website: http://www.starhealth.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: starhealth.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Lead Manager Reports
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
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.
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