Star Health and Allied Insurance Company Limited raises Rs. 3,217 crores from 62 anchor investors

Star Health and Allied Insurance Company Limited raises Rs. 3,217 crores from 62 anchor investors at the upper price band of Rs. 900 per equity share

· Star Health and Allied Insurance Company Limited allocates equity shares at the upper price band of Rs. 900 per share with face value of Rs. 10 per equity share

· Non-anchor offer to open on Tuesday, November 30, 2021 to December 02, 2021

· Price band of the issue is Rs. 870- Rs. 900 per share

· Minimum bid quantity is 16 shares and in multiple thereof

Star Health and Allied Insurance Company Limited, the largest private health insurance company and the largest retail health insurance company in India by health GWP, with a 15.8% overall health insurance market share and a 31.3% retail health insurance market share in fiscal 2021, according to CRISIL Research has allocated Rs. 3,217 crores ahead of the company’s proposed IPO at the upper band of Rs. 900 per share (including share premium of Rs. 890 per Equity Share) with face value of Rs. 10 per equity share.

The Initial Public Offerings comprises fresh issue of equity shares worth Rs. 2,000 crore and an offer of sales of up to 58,324,225 equity shares by Promoter and existing shareholders.

Offer for sale includes Up to 30,683,553 equity shares by Safecrop Investments India LLP (“Promoter Selling Shareholder”), Up to 137,816 equity shares by Konark Trust, Up to 9,518 equity shares by MMPL Trust (“Promoter Group Selling Shareholders”), Up to 7,680,371 equity shares by APIS Growth 6 Limited, Up to 4,110,652 equity shares by MIO IV Star, Up to 7,438,564 equity shares University of Notre Dame Du Lac, Up to 4,110,652 equity shares by MIO Star, Up to 2,509,099 equity shares by ROC Capital PTY Limited, Up to 1,000,000 equity shares by Venkatasamy Jagananthan, Up to 500,000 equity shares by Sai Satish and Up to 144,000 equity shares by Berjis Minoo Desai (“Other Selling Shareholders”). The face value of equity shares is Rs. 10 each.

The offer includes a reservation aggregating Up to Rs. 100 crores for subscription by eligible employees (“Employee Reservation Portion”)

^Kotak Mahindra Capital Company Limited, Axis Capital Limited, ^BofA Securities India Limited, ^Citigroup Global Markets India Private Limited, ^ICICI Securities Limited, CLSA India Private Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited, *Ambit Private Limited, *DAM Capital Advisors Limited, IIFL Securities Limited and *SBI Capital Markets Limited are Book Running Lead Managers to the offer.