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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