Let’s have a detailed review of the company and analytics of the Star Health Insurance IPO release date, IPO offer price, subscription, Star Health Insurance Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 10
Price BandRs 870 to Rs 900
Listing AtBSE, NSE
Min. Order Quantity16 Shares
Listing DateDec 10, 2021
Offer for SaleRs 52491.80 Million
Fresh IssueRs 20,000 Million
IPO SizeRs 72491.80 Million
Tick Size1

Star Health Insurance IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.


Star Health Insurance IPO – Summary

Star Health Insurance IPOThey continue to be the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in Fiscal 2021, according to CRISIL Research.

In Fiscal 2021, they had a total GWP of ₹93,489.50 million. From being the first standalone health insurance (“SAHI”) company established in India in 2006, they have grown into the largest SAHI company in the overall health insurance market in India, according to CRISIL Research.

Profitability in the retail health insurance segment is also being driven by customer loyalty, which is higher than other health insurance segments

The Promoter of this company is SAFECROP INVESTMENTS INDIA LLP, WESTBRIDGE AIF I AND RAKESH JHUNJHUNWALA. The lead manager to the issue is Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Ambit Private Limited, DAM Capital Advisors Limited, IIFL Securities Limited, and SBI Capital Markets Limited and the Registrar to this issue is KFin Technologies Private Limited.


Star Health Insurance IPO Date

The opening and the closing date of Star Health Insurance IPO are Nov 30, 2021, and Dec 2, 2021, respectively.

Check out Related IPO Links:

Star Health Insurance IPO GMP
Allotment – Star Health Insurance IPO

Star Health Insurance IPO Subscription

Day / DateQIBNIIRIIEmpTotal Subscription
1st Day – 30th Nov0.00x0.01x0.64x0.03x0.12x
2nd Day –  1st Dec0.07x0.02x0.89x0.05x0.20x
3rd Day – 2nd Dec1.03x0.19x1.10x1.10x0.79x
Shares Offered or Net Issue23,830,60211,915,3007,943,5331,219,51244,908,947

The shares subscribed by the public will be updated here.

Check Star Health Insurance IPO LIVE Subscription

  • Star Health Insurance IPO LIVE Bid details on BSE
  • Star Health Insurance IPO LIVE Bid details on NSE

For the Latest Bid details click on the above links.


Star Health Insurance IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Star Health Insurance Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment FinalizationDec 7, 2021
Refunds InitiationDec 8, 2021
The credit of Shares to Demat AccountDec 9, 2021
Share Listing DateDec 10, 2021

Star Health Insurance IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.870 to Rs 900 


Star Health Insurance IPO Equity Size

This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs 870 to Rs 900 per equity share aggregating to Rs.72491.80 Million.


Star Health Insurance IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.

Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.72491.80 Million


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    Star Health Insurance IPO – Live Performance

    The listing date of this IPO is Dec 10, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Star Health Insurance Share Price

    Star Health Insurance IPO Grey Market Premium

    The Star Health Insurance Limited IPO Grey Market Premium price is NA, the Kostak rate is NA and the Subject to Sauda is NA. 


    Star Health Insurance IPO – Company Overview

    They have led the non-public health insurance market in terms of a number of new branch openings since Fiscal 2018, and their branch network was over three times the number of the next largest non-public health insurance provider as of December 31, 2020, according to CRISIL Research.

    As of March 31, 2021, their distribution network had grown to 737 health insurance branches spread across 26 states and 4 union territories in India.

    Their existing branches are also supplemented by an extensive network of over 750 Sales Managers Stations (“SMS”), which are small individual service centers, and over 7,000 in-house sales managers, as of March 31, 2021. Their other origination channels include distribution by direct online sales through telemarketing and their website, brokers, insurance marketing firms, and web aggregators.

    They offer a range of flexible and comprehensive coverage options primarily for retail health, group health, personal accident, and overseas travel,


    Star Health Insurance IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Million)
    30-Sep-2130-Sep-20Mar-2131-Mar-20Mar-19
    Total Assets49,749.4221,008.8844,665.7218,967.6916,426.35
    *Total Revenue(4,946.80)3,343.05(9,077.76)4,619.612,262.54
    Total Expense179.54177.341,381.74485.36440.07
    Profit After Tax(3,802.69)1,992.87(8,255.81)2,680.021,282.26

    Earnings per Equity Share (in Million)

    30-Sep-2130-Sep-20Mar-2131-Mar-20Mar-19
    Basic (6.93)4.06(16.54)5.592.81
    Diluted
    (6.93)3.94(16.54)5.482.78

     

    Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. (8,255.81) Million, Rs. 2,680.02 Million and Rs. 1,282.26 Million respectively.


    Star Health Insurance IPO – Promoters

    The Promoter of this company is:

    1. SAFECROP INVESTMENTS INDIA LLP
    2. WESTBRIDGE AIF I
    3. RAKESH JHUNJHUNWALA

    List of Related Parties (Key Managerial Personnel)

    • Venkatasamy Jagannathan, Chairman and CEO
    • Subbarayan Prakash, Managing Director
    • Anand Shankar Roy, Managing Director
    • Sumir Chadha, Non-Executive Nominee Director
    • Deepak Ramineedi, Non-Executive Nominee Director(
    • Utpal Hemendra Sheth, Non-Executive Nominee Director

    Star Health Insurance IPO – Promoters Holding

    • Pre Issue Share Holding – 66.22%
    • Pos Issue Share Holding – 58.42%

    Star Health IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered Up to X Equity Shares aggregating up to Rs.72491.80 Million
    of which:
    Issue Reserved for the Market MakersUp to [●] Equity Shares aggregating up to Rs.[●] Million
    Net Issue to the PublicUp to [●] Equity Shares aggregating up to Rs.[●] Million
    Of which:
    Retail Investors Portion Not less than [●] Equity Shares
    Other than Retail Individual InvestorsNot more than [●] Equity Shares
     Equity Shares outstanding prior to the Issue548,679,767 Equity Shares
     Equity Shares outstanding after the IssueX Equity Shares

    Star Health Insurance IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. To undertake their existing business activities;
    2. To undertake the activities proposed to be funded from the Net Proceeds.

    Star Health Insurance – Business Strategy

    • Continue to leverage and enhance market leadership in the attractive retail health insurance segment.
    • Continue to enhance existing distribution channels and develop alternative channels.
    • The continue product innovation and provide value-added services.
    • Utilize the digitization of their business to improve operational efficiencies and customer service.
    • Drive profitability by leveraging scale and further improving financial performance.
    • Respond to the challenges posed by the COVID-19 Pandemic and adapt to the post-COVID-19 environment.

    Star Health IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Largest private health insurance company in India with leadership in the attractive retail health segment;
    • One of the largest and well-spread distribution networks in the health insurance industry and integrated ecosystem;
    • Diversified product suite with a focus on innovative and specialized products;
    • Strong risk management focus with domain expertise driving a superior claims ratio and quality customer service;
    • Substantial investment in technology and innovative business processes; and
    • Demonstrated superior operating and financial performance

    The relevant quantitative factors are:

    Basic EPS Diluted EPS
    RONW (%)NAV (Rs.)
    31-Mar-21(16.54)(16.54)(23.69%)63.58
    31-Mar-205.595.4816.46%
    Mar-192.812.7810.55%

    Star Health IPO: Competitive Peers

    Face Value (Rs.)P/EEPS Basic  (Rs.)EPS Diluted (Rs.)Return on Net Worth (%)Total Income (Rs. in Millions)
    Star Health and Allied Insurance
    Company Limited
    10[●](16.54)(16.54)(23.69%)(8,255.81)
    Listed Peers
    ICICI Lombard General Insurance
    Company Ltd
    1047.7832.4132.2719.81%14,730.50
    New India Assurance Company
    Limited
    515.939.959.958.81%16,277.50

    Star Health Insurance IPO Lead Managers

    Lead Managers

    Kotak Mahindra Capital Company Limited

    Axis Capital Limited

    BofA Securities India Limited

    Citigroup Global Markets India Private Limited

    CLSA India Private Limited

    Ambit Private Limited

    DAM Capital Advisors Limited

    IIFL Securities Limited

    SBI Capital Markets Limited

    Star Health Insurance IPO Registrar to offer

    Registrar to the Offer
    KFin Technologies Private Limited
    Selenium, Tower B, Plot No- 31 and 32
    Financial District, Nanakramguda,
    Serilingampally, Hyderabad
    Rangareedi 500 032
    Telangana, India
    Tel: +91 40 6716 2222/ 180034 54001
    E-mail: starhealth.ipo@kfintech.com
    Investor grievance e-mail:
    einward.ris@kfintech.com
    Website: www.kfintech.com
    Contact Person: M Murali Krishna
    SEBI Registration No.: INR000000221

    Star Health IPO – Other Details

    • Statutory Auditor – M/s Brahmayya & Co., Chartered Accountants and M/S. V Sankar Aiyar & Co, Chartered Accountants,
    • Legal Counsel to the Company – Cyril Amarchand Mangaldas
    • Bankers to the Company –  AU Small Finance Bank Limited, Bank of India, Canara Bank, HDFC Bank Ltd., IDFC First Bank Ltd., Indian Bank, Punjab National Bank, State Bank of India, The Karur Vysya Bank, and UCO Bank


    Star Health Insurance IPO Review by Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

     


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      Star Health Insurance Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download


      Star Health IPO Review FAQs

      Ques – What is the Issue Size of Star Health Insurance IPO?

      Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      Ques – What is the Price band of Star Health Insurance IPO?

      Answer – The price band for this particular IPO ranges between Rs 870 to Rs 900. As far as the face value of the share is of concern, it is Rs.10 per share.

      Ques – What is the Star Health Insurance IPO Open Date?

      Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 30, 2021, while the closing date is set at Dec 2, 2021.

      Ques – What is the Star Health IPO Allotment Date?

      Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Dec 7, 2021, refund initiation is on Dec 8, 2021, credit of shares is on Dec 9, 2021, and share listing date is on Dec 10, 2021.

      Ques – What is the Star Health Insurance IPO Listing Date?

      Answer – Shares of this company shall be listed in the exchanges on Dec 10, 2021. The date, when the listing would be done, is stagnant on Dec 10, 2021.

      Ques – Who is the Registrar of Star Health Insurance?

      Answer – One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.

      Ques – Who is the Promoter of Star Health Insurance IPO?

      Answer – Here are the promoters of this IPO – SAFECROP INVESTMENTS INDIA LLP, WESTBRIDGE AIF I, AND RAKESH JHUNJHUNWALA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      Ques – What is the GMP of Star Health Insurance IPO?

      Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Ques – Is Star Health Insurance IPO good for Investment?

      Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      Ques – What is the PAT of Star Health Insurance Company?

      Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is (8,255.81), 2020 is 2,680.02, 2019 is 1,282.26.


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