Upcoming IPO In November

A private company’s first public offering (IPO) involves the selling of its shares to the general public. Companies that go public obtain cash through an initial public offering (IPO) for a variety of purposes, including operating capital, debt repayment, acquisitions, and more. Investors in India can apply for IPO Stocks by completing an online IPO application provided by stockbrokers and banks. Online IPO applications using UPI are available from brokers, and banks provide both UPI and ASBA IPO applications.

There is one upcoming IPO in November and that is Star Health and Allied Insurance Company Ltd on 30th November 2021 to 2nd December 2021.

DETAILS

 Star Health and Allied Insurance Company Ltd, founded in 2006, is one of India’s major private health insurers, with a market share of 15.8% in Fiscal 2021. The retail health and group health divisions, which accounted for 89.3 percent and 10.7 percent of the company’s total GWP in Fiscal 2021, respectively, are the company’s primary emphasis.

Individual agents are the primary channel via which the firm sells insurance, although it also includes corporate agent banks and other corporate agents. As of September 30, 2021, it had 779 health insurance outlets spread over 25 states and 5 union territories in India. With over 11,778 hospitals, Star Health has created one of India’s largest health insurance hospital networks.

Competitive advantages

  1. The country’s largest private health insurance firm, having a stronghold in the lucrative retail health category.
  2. The health insurance industry’s largest network distribution.
  3. With an emphasis on innovation and specialised goods, the product suite is diverse.
  4. Strong risk management combined with a low claim ratio and excellent customer service.
  5. A proven track record of operational and financial success.
  6. The company’s promoters are Safecrop Investments India LLP, Westbridge AIF I, and Rakesh Jhunjhunwala.

MORE ABOUT IPO

  1. The Star Health IPO is a main-board offering of [.] equity shares with a face value of ten rupees, with a total value of 7,249.18 crores. The offering will cost between Rs870 and Rs900 per equity share. A minimum order quantity of 16 shares is required.
  2. The initial public offering (IPO) will begin on November 30, 2021, and end on December 2, 2021.
  3. The IPO’s registrar is KFintech Private Limited. The shares will be listed on the BSE and NSE.
  4. You can apply online for the Star Health IPO utilising UPI or ASBA as a payment option. The ASBA IPO application may be found in your bank account’s online banking. Brokers that do not provide banking services provide the UPI IPO application.
  5. The IPO aims to utilize the net proceed to augment the company’s capital base and insolvency level.
  6. The Star Health IPO market lot size is 16 shares. A retail-individual investor can apply for up to 13 lots (208 shares or ₹187,200).

FINANCIALS

Summary of financial Information (Restated Consolidated)
ParticularsFor the year/period ended (₹ in Millions)
30-Sep-2130-Sep-2031-Mar-2131-Mar-20
Total Assets49,749.4221,008.8844,665.7218,967.69
Total Revenue– 4,946.803,343.05– 9,077.764,619.61
Profit After Tax– 3,802.691,992.87– 8,255.812,680.02

Star Health IPO Details

IPO Opening DateNov 30, 2021
IPO Closing DateDec 2, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹870 to ₹900 per equity share
Market Lot16 Shares
Min Order Quantity16 Shares
Listing AtNSE, BSE
Issue SizeShares of ₹10
(aggregating up to ₹7,249.18 Cr)
Fresh IssueShares of ₹10
(aggregating up to ₹2,000.00 Cr)
Offer for Sale58,324,225 Shares of ₹10
(aggregating up to ₹5,249.18 Cr)
Employee Discount80
Pre Issue promoter Share Holding 66.22%
Post Issue promoter Share Holding 58.42%
IPO Open DateNov 30, 2021
IPO Close DateDec 2, 2021
Basis of Allotment DateDec 7, 2021
Initiation of RefundsDec 8, 2021
Credit of Shares to Demat AccountDec 9, 2021
IPO Listing DateDec 10, 2021

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