Star Health and Allied Insurance Company Limited is planning to raise Rs 7249.18 crore through an Initial Public Offering.
The IPO subscription will open on November 30, 2021 and close on December 2, 2021. The price band is fixed at Rs 870 to Rs 900 per equity share.
The issue comprises of fresh issue of equity shares worth Rs 2000 crore and Offer For Sale of Rs 5249.18 crore. The face value of the equity share is Rs 10 apiece.
Star Health and Allied Insurance Company is one of the leading private health insurers in India with a market share of 15.8% in financial year 2021, according to CRISIL Research. In Fiscal 2021 the total gross written premiums (GWP) were Rs 9348.95 crore and in April-September 2021, total GWP was 50,69.78 crore.
Star Health has successfully built one of the largest health insurance hospital networks in India, with 11,778 hospitals as of September 30, 2021. Out of which, they have pre-agreed arrangements with 7,741 hospitals, or 65.7%, of the total number of hospitals. In Fiscal 2021 and the six months ended September 30 of FY22, they have processed 3.3 lakh and 2.5 lakh claims, respectively.
The company’s comprehensive health insurance product suite have insured 2.05 crore 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.
The insurance company distributes their health insurance policies primarily through individual agents, which accounted for 78.9% of their GWP in FY21.
As of September 30, 2021 the company’s distribution network had grown to 779 health insurance branches spread across 25 states and 5 union territories in India. Their wide branch network is complemented by 562 Sales Managers Stations (“SMS”), which are small individual service centres, and over 6,892 in-house sales managers. Their other origination channels include distribution by direct online sales through telemarketing and website, brokers, insurance marketing firms and web aggregators.
The company’s insurance products cater to various customer segments including individuals, families, students, senior citizens, as well as persons with pre-existing medical conditions across the broader middle market customer segment.
Safecrop Investments India LLP, Westbridge AIF I and Rakesh Jhunjhunwala are the promoters of the company.
Particulars | For the period ended (Rs in crore) | ||
31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
Total Assets | 4,466.57 | 1,896.77 | 1,642.64 |
Total Revenue | -907.78 | 461.96 | 226.25 |
Profit After Tax | -825.58 | 268.002 | 128.23 |
Below table show the financial details for first six months (April to September) in FY 22 and FY 21
Particulars | For the six month period ended (Rs in crore) | |
30-Sep-21 | 30-Sep-20 | |
Total Assets | 4,974.94 | 2,100.89 |
Total Revenue | -494.68 | 334.31 |
Profit After Tax | -380.27 | 199.29 |
IPO Opening Date | November 30, 2021 |
IPO Closing Date | December 2, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | Rs 10 per equity share |
IPO Price | Rs 870 to Rs 900 per equity share |
Market Lot | 16 Shares |
Min Order Quantity | 16 Shares |
Listing At | BSE, NSE |
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 16 | Rs 14,400 |
Maximum | 13 | 208 | Rs 1,87,200 |
Fortune Capital Services Private Ltd. SEBI Registration No. INZ000201438. Member Code for NSE: 14572 BSE:6524 MCX: 16765 and ICEX: 2010. CDSL DP ID: 12080300 SEBI Registration No.IN-DP-CDSL-729-2014. Registered Office: Kochar Technology Park, 6th Floor, SP-31-A, 1st Cross Road, Ambattur Industrial Estate, Ambattur, Chennai – 600 058. For any complaints pertaining to stock broking please write to [email protected] and for DP related to [email protected] Please ensure to read the Risk Disclosure Document carefully as prescribed by SEBI.
“Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances”
“Prevent unauthorised transactions in your account, update your mobile numbers/email IDs with your Stockbroker/Depository Participant. Receive information of your transactions directly from Exchange/Depository on your mobile/ email at the end of the day. Issued in the interest of investors”. As a business we do not give stock tips and have not authorized anyone to trade on behalf of others. If you find anyone claiming to be part of FLATTRADE and offering such services, please email to [email protected] “KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” Dear Investor, if you are subscribing to an IPO, there is no need to issue a cheque. Please write the Bank account number and sign the IPO application form to authorize your bank to make payment in case of allotment. In case of non-allotment, the funds will remain in your bank account.
“Attention Investors 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. 2.Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. 3. Pay 20% upfront margin of the transaction value to trade in cash market segment 4. Investors may please refer to the Exchange’s Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. 5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month. Issued in the interest of Investors”
Disclaimer: ‘Investment in securities market are subject to market risks, read all the related documents carefully before investing’.
“Investment in Mutual Fund market are subject to market risk. There is no guaranteed or assured rate of return. Past Performance is not indication of future returns. Please read all related documents carefully before investing”.
“The securities quoted are exemplary and are not recommendatory”.
“Brokerage will not exceed the SEBI prescribed limit”.
Leave a Reply