"Under this collaboration, Standard Chartered Bank will offer Star Health's Insurance products through their extensive branch network across India," a press release from Star Health Insurance said
The initial public offering (IPO) comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders.
The public offer includes a reservation of shares worth Rs 100 crore for employees. At the upper end of the price band, the initial share-sale is expected to fetch Rs 7,249.18 crore.
Stare Health shares fell as much as 8 per cent below its IPO price of Rs 900, but very soon, it surged nearly 4 per cent higher to Rs 932. The company's market cap stood at Rs 48,850.32 crore on the BSE.
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So far in 2021, as many as 51 companies have launched their IPOs to raise over Rs 1 lakh crore from the market, according to the analysis of data with exchanges.
The IPO comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale of up to 58,324,225 equity shares by promoters and existing shareholders.
Star Health Insurance IPO is open for subscription till December 2 and plans to raise Rs 7,249 crore. To apply for one lot, you need to pay Rs 14,400 at the higher price band of Rs 900.
The IPO comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale of up to 58,324,225 equity shares by promoters and existing shareholders.
