Star Health IPO anchor investor: Star Health raises Rs 3,217 cr from anchor investors ahead of IPO

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New Delhi: Star Health and Allied Insurance Company on Monday said it has raised a little over Rs 3,217 crore from anchor investors ahead of its IPO on Tuesday.

The company has decided to allocate a total of 3,57,45,901 equity shares to 62 anchor investors at Rs 900 apiece, aggregating to Rs 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 Rs 2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders.

The public offer includes a reservation of shares worth Rs 100 crore for employees.

The issue, with a price band of Rs 870-900 a share will open for public subscription between November 30 and December 2.

At the upper end of the price band, the initial share-sale is expected to fetch Rs 7,249.18 crore.

Proceeds from the fresh issue would be used to augment the company’s capital base.

About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.


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