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Star Health and Allied Insurance Company Limited IPO Detail

Star Health and Allied Insurance Company Limited IPO Detail

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 market segment. It offers a range of flexible and comprehensive coverage options for retail health, group health, personal accident, and overseas travel, accounting for 87.9%, 10.5%, 1.6%, and 0.01%, respectively, of the total GWP in Fiscal 2021.

The company mainly distributes policies through individual agents and also includes corporate agent banks and other corporate agents. As of March 31, 2021, its network distribution includes 737 health insurance branches across 26 states and 4 union territories in India. Star Health has also built one of the largest health insurance hospital networks in India with more than 10,870 hospitals.

Competitive strengths

  • Largest private health insurance company in India with leadership in the attractive retail health segment.
  • Largest network distribution in the health insurance industry.
  • Diversified product suite with a focus on innovation and specialized products.
  • Strong risk management with superior claims ratio and quality customer services.
  • Demonstrated track record of operating and financial performance.

Company Promoters

Safecrop Investments India LLP, Westbridge AIF I and Rakesh Jhunjhunwala

IPO Details

IPO Opening DateNov 30, 2021
IPO Closing DateDec 02, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹870 - 900 per equity share
Market Lot16 Shares
Min Order Quantity16 Shares
Listing AtBSE, NSE
Issue Size₹7,249.18 Cr
Fresh Issue₹2,000.00 Cr
Offer for Sale₹5,249.18 Cr
Employee Discount₹80
Retail Portion 10%

IPO Subscription (Bidding Detail)

Day 1 0x 0.02x 0.64x 0.03x - 0.12x
Day 2 0.07x 0.02x 0.89x 0.05x - 0.2x
Day 3 1.03x 0.19x 1.09x 0.09x - 0.8x

IPO Tentative Timetable

The Star Health and Allied Insurance Company Limited IPO open date is Nov 30, 2021, and the close date is Dec 02, 2021. The issue may list on Dec 10, 2021.

IPO Open DateNov 30, 2021
IPO Close DateDec 02, 2021
Basis of Allotment DateDec 07, 2021
Initiation of RefundsDec 08, 2021
Credit of Shares to Demat AccountDec 09, 2021
IPO Listing DateDec 10, 2021

IPO Lot Size

The Star Health and Allied Insurance Company Limited IPO market lot size is 16 shares. A retail-individual investor can apply for up to 13 lots (208 shares or ₹187200).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding66.22%
Post Issue Share Holding58.42%

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
30-Sep-21 4,974.94 - 494.68 380.27
31-Mar-21 4,466.57 - 907.77 - 825.58
31-Mar-20 1,896.77 461.96 268.02

Objects of the Issue:

The IPO aims to utilize the net proceed to augment the company's capital base and insolvency level.