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Rakesh Jhunjhunwala-backed Star Health IPO opens on November 30

09:43 AM Nov 24, 2021 | FPJ Web Desk

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company is set to launch its maiden on November 30, 2021. The offer closes on December 2. Information about price band and lot size will be disclosed today.

The initial public offering comprises of a fresh issue of shares worth Rs 2,000 crore, and an offer for sale of up to 60,104,677 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

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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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Star Health, leading private health insurer in the country, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.

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