₹870-900 per share for its initial public offering (IPO). Star Health on Monday said it has raised a little over ₹3,217 crore from anchor investors ahead of its IPO.
Star Health's IPO comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders.
At the upper end of the price band, the public issue is expected to fetch ₹7,249 crore. As per market observers, Star Health shares premium (GMP) have fallen to ₹10 in the grey market.
The company plans to list on leading stock exchanges BSE and NSE on December 10. "We view STAR’s valuations at 8.2x Sep 2021 BV favorably in comparison to similar levels for ICICI Lombard, as we expect STAR to continue to