Rakesh Jhunjhunwala-backed Star Health & Allied Insurance’s initial public offering (IPO) opened for subscription on Tuesday. The insurer is looking to raise up to Rs 7,250 crore, making it the third largest IPO of the year, and the eighth biggest ever to hit the domestic market.
With a market share of about 16 per cent in the domestic health insurance space, Star Health is the largest health insurer in the country. It has set a price band of Rs 870-900 per share for its IPO. At the top end, the company will be valued at Rs 51,806 crore.
The offer consists of