Star Health ends in green, albeit by a small margin, despite IPO drubbing

Stock ends at Rs 907, a gain of Rs 7 over issue price of Rs 900. Shares hit a high of Rs 940 and a low of Rs 827.5 on BSE

Rakesh Jhunjhunwala-promoted Star Health and Allied Insurance Company ended above the issue price during its first trading day on Friday. This despite a cold response to its initial public offering (IPO) earlier this month, which forced the company to reduce the issue size from Rs 7,250 crore to Rs 6,400 crore. Star Health is India’s first and largest standalone health insurance company.

Its stock ended at Rs 907, a gain of Rs 7 over issue price of Rs 900. The shares hit a high of Rs 940 and a low of Rs 827.5 on the BSE.

Its IPO had managed