Star Health and Allied Insurance Co Limited IPO – Review

Star Health and Allied Insurance Co Limited – an Indian health insurance company based in Chennai – is planning to raise INR 7250 Cr via IPO [2000 Cr Fresh Issue + 5250 Cr OFS]

Star Health and Allied Insurance: Company Profile

Star Health and Allied Insurance provide services in (1) health, (2) personal accident, and (3) overseas travel insurance, directly as well as through other business channels like online, brokers, and agents.

The Company is also prominently into bancassurance having long-standing relationships with well-known banks.

The Company is the largest private health insurer in India with a market share of 15.8 per cent in the Indian health insurance market in Fiscal 2021 (according to CRISIL Research).

Company Promoters:

Safecrop Investments India LLP,

Westbridge AIF I,

Rakesh Jhunjhunwala

IPO Details

Face Value / share: 10

Issue Size (Rs. Cr): 7,250

Issue price / Floor Price (INR): 870 – 900

Application / share (INR): 900

Minimum Investment Amount (INR): 14,400.00

Minimum Bid (no of shares): 16

Maximum Shares for Retail: N.A

IPO Dates & Listing

Issue Opens: 30-Nov-21

Issue Closes: 02-Dec-21

Listing On: NSE, BSE

CONCLUSION

Considering company’s financial parameters and valuation, FinBlab recommends NEUTRAL ratings (for the time-being) on Star Health and Allied Insurance Co Limited IPO

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