 "IPO")
University of Notre Dame sells 3% stake in Star Health
Endowment fund University of Notre Dame and Madison Capital on Monday pared their holdings worth Rs 1,313 crore in Star Health and Allied Insurance Company. University of Notre Dame sold 3 per cent stake, or 18.11 million shares, at Rs 610.2 apiece to raise a total of Rs 1,105 crore. Meanwhile, Madison’s MIO IV sold 3.4 million shares at the same price to mop-up Rs 208 crore. Among the buyers were Fidelity and ICICI Prudential Life Insurance. Shares of Star Health last closed at Rs 611.6, little changed over its previous day’s close. At the end of June 2023, University of Notre Dame held 3.17 per cent stake in Star Health, while Madison held nearly 6.35 per cent across two funds.
Vishnu Prakash IPO subscribed 88x
The initial public offering (IPO) of Vishnu Prakash R Punglia, a company involved in water supply projects, was subscribed 87.8 times on Monday, the concluding day of the issue. The institutional investor portion was subscribed 171.6 times, the wealthy investor portion 111 times, the retail investor portion 32 times, and the portion reserved for employees 13 times. The price band for the IPO was Rs 94-99 per share. The company was looking to issue Rs 309 crore in fresh capital through the IPO. At the top end, Vishnu Prakash will be valued at Rs 1,234 crore. In 2022-23 (FY23), the company reported a net profit of Rs 90 crore on revenues of Rs 1,168 crore. As of July 15, 2023, Vishnu Prakash’s order book stood at Rs 3,800 crore. BS
