Star Health raises ₹3,217 cr from anchor investors ahead of IPO
The Hindu
The public offer includes a reservation of shares worth ₹100 crore for employees. The issue, with a price band of ₹870-900 a share will open for public subscription between November 30 and December 2
Star Health and Allied Insurance Company on November 29 said it has raised a little over ₹3,217 crore from anchor investors ahead of its IPO on November 30. The company has decided to allocate a total of 3,57,45,901 equity shares to 62 anchor investors at ₹900 apiece, aggregating to ₹3,217.13 crore, according to a circular uploaded on BSE website.
Monetary Authority of Singapore, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, BNP Paribas Arbitrage and Societe Generale are among the anchor investors. In addition, SBI Life Insurance Company, HDFC Life Insurance Company and Edelweiss Mutual Fund have been allocated shares.
The initial public offering (IPO) comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders. Those offering shares through the offer for sale are promoter and promoter group — Safecrop Investments India LLP, Konark Trust, MMPL Trust — and existing investors Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.
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