- Budget 2022 News, Expectations LIVE: High hopes pinned on Modi government, FM Nirmala Sitharaman - Check who wants what
- Zee Business Exclusive: From LIC IPO to Budget 2022 - BSE CEO Ashish Chauhan speaks about these possibilities
- Who is New CEA? Govt appoints V Anantha Nageswaran as Chief Economic Advisor
- Budget 2022: From date, time to where and how to watch LIVE - See all important details about Union Budget
- Dalal Street Corner: Markets close negative after massive intraday rally; what should investors do on Monday?
Star Health and Allied Insurance IPO opens today: Should you subscribe? Know Anil Singhvi’s strategy here
The Rs 7,249-crore 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.
Ahead of its initial public offer (IPO) launch on Tuesday, Zee Business Managing Editor Anil Singhvi advises, risk-taking investors, should apply for Rakesh Jhunjhunwala-backed Star Health and Allied Insurance IPO with a long-term view or else buy the shares post listing of the company.
The managing editor lists out the positive and negative of the company. Wherein the negatives are overpowering the positives of the company. In positives, he points out the company has a strong growth track record as well as it is a market leader with strong promoters.
See Zee Business Live TV Streaming Below:
On the contrary, Singhvi mentions, the company incurred losses in FY21 and the current year as negatives, he adds, it has expensive valuations, besides, in March 2021, the shares were issued at Rs 489 and now IPO at Rs 900 rupees.
The three-day IPO of Star Health is to begin on November 30, 2021, and will be active till December 2, 2021. The Rs 7,249-crore 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.
Those offering shares through the offer-for-sale are promoter and promoter group -- Safecrop Investments India LLP, Konark Trust, MMPL Trust -- and existing investors -- Apis Growth Ltd, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, among others.
Ace investor Rakesh Jhunjhunwala will not be selling his stake in the company through offer-for-sale during the IPO launch of the company, a Zee Business report said.
The company has fixed a price band of Rs 870-900 per share, and investors can bid for a minimum of 16 equity shares and in multiple thereof. The net proceeds from the fresh issue would be used to augment the company's capital base.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.