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STAR HEALTH Grey Market News Today #
On 4 December 2021 @ 1.00 pm
Grey Market Premium No trades
Application Rates :Rs. –
Subject to Rates : Rs.
STAR HEALTH IPO subscription Trend
On 2.12.2021 @ 5.00 pm
QIB 23830602 Sh 1.03 T
NII 11915300 Sh 0.19 T
RII 7943533 Sh 1.09 T
Tot: 44908947 Sh 0.79 T
STAR HEALTH Company Details
Star Health is and continue to be the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in fiscal 2021, In Fiscal 2021, it had total GWP of Rs 93,489.50 million. From being the first standalone health insurance (“SAHI”) company established in India in 2006, it has grown into the largest SAHI
company in the overall health insurance market in India. Our comprehensive health insurance product suite insured 20.5 million lives in Fiscal 2021 in retail health and group health, which accounted for 89.3% and 10.7%, respectively, of its total health GWP in Fiscal 2021. We are strategically focused on the retail health market segment and had
retail health GWP of Rs 82,150.90 million in Fiscal 2021.
Star Health has been consistently ranked first in the retail health insurance market in India based on retail health GWP over the last three Fiscal Years.
The retail health market segment is expected to emerge as a key growth driver for the overall health insurance industry in India after the COVID19 crisis in India due to low penetration of health insurance, high out-of-pocket expenses for healthcare costs and since onl 10% of the population has insurance policies outside of government plans.
In Fiscal 2021, its retail health GWP was over three times the retail health GWP of the next highest retail health insurance market participant, positioning it well to continue to grow its business and market share.
The Indian health insurance market continues to be underpenetrated, with a health insurance penetration of only 0.36% of GDP in 2019, compared to the global average of 2.0% of GDP.
The company distributes its health insurance policies primarily through individual agents, which accounted for 78.9% of our GWP in Fiscal 2021.As of December 31, 2020, it had the largest number of individual agents among SAHI insurers.As of March 31, 2021 its distribution network had grown to 737 health insurance branches spread across 26 states and 4 union territories in India.
Its other origination channels include distribution by direct online sales through
telemarketing and its website, brokers, insurance marketing firms and web aggregators.
for more information, click : www.starhealth.in
The promoters of STAR HEALTH
Safecrop Investments India LLP,Westbridge AIF & Rakesh Jhunjhunwala
STAR HEALTH IPO Main Objects
The Offer comprises of the Fresh Issue and Offer for Sale.
Fresh Issue : The Company proposes to utilise the Net Proceeds towards augmentation of its capital base and maintenance of solvency levels
STAR HEALTH IPO Details
IPO opens on 30 Nov 2021
IPO Closes on 2 Dec 2021
Issue Type: Book Built Issue IPO
Issue : up to 80654848 Shares /Rs 7249.18 Crore
1) Fresh Issue up to 2,22,22,222 Shares/ Rs. 2000 Cr
2)Offer for Sale Up to 58324225 Sh./ Rs 5249.18 Cr
Equity Shares Prior to the Offer : 548,679,767 Equity Shares
Face Value per share : Rs. 10
STAR HEALTH IPO Price Band Per Equity Share: Rs. 870-900
Discount to Employees Rs. 80 per share
STAR HEALTH IPO Retail Lot Size 16 Shares
STAR HEALTH Listing will at BSE,NSE
Shares offered to
QIB (75%) 59576502 Sh = Rs 5361.88 Cr
NII (15%) 11915300 Sh = Rs 1072.38 Cr
RII (10%) 7943534 Sh = Rs 714.92 Cr
Emp 1219512 Sh Rs 100 Cr
Total 80654848 Shares : Rs. 7249.18
Lot size : 16 Shares = 496471 Forms
Min. Retail Application : 16 Sh Rs. 14400
Max. Retail Applicaation : 208 Sh, Rs. 187200
Allotment date 7 Dec 2021
Initiation of Refunds : 8 Dec 2021
Credit of Shares to Demat : 9 Dec 2021
Listing on 10 Dec 2021
STAR HEALTH IPO Financial Details :
Earnings per Share 2019-20 Rs 5.59
Earnings per Share 2020-21,Rs (16.54)
Earnings per Share 2021-22 6M Rs (6.93)
Book Value of the Share as on 31.3.2021 Rs 63.58
Return on Net Worth: 19-20 16.46 %
Return on Net Worth: 20-21: (23.69) %
Return on Net Worth: 21-22 6M : (11.89) %
Upper Price Band/last EPS: N.A
Upper offer price/Book Value Ratio: 14.15
STAR HEALTH IPO Peer Comparison:
ICICI Lombard General Insurance @ PE Multiple of 46.66
ICICI Lombard General Insurance @ Price to BV ratio of 9.24
New India Assurance @ PE Multiple of 15.30
New India Assurance @ Price to BV ratio of 1.35
STAR HEALTH IPO Lead Managers
Kotak Mahindra Capital,Axis Capital,
BofA Securities,Citigroup Global ,ICICI Securities,CLSA India, Credit Suisse,
,Jefferes India,Ambit Capital,DAM Capital , IIFL Securities, SBI Capital Markets,
Registrar to STAR HEALTH IPO
Kfin Technologies Private Limited
Registered Office of STAR HEALTH
No.1, New Tank Street,Valluvarkottam High Road, Nungambakkam, Chennai Tamil Nadu
Company Secretary and Compliance Officer
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