Star Health India stars Health IPO Star Health India

₹6,000 crore profit as Star Health lists, but holds on to stake

Reading now: 519
www.livemint.com

Star Health and Allied Insurance Co, backed by ace investor Rakesh Jhunjhunwala, recovered after a weak stock market debut on Friday with the stock surging to a day's high of ₹940 per share on the BSE.

Star Health shares were trading near its issue price of ₹900 in afternoon deals on its first day. As one of the promoters of the company, the ‘Big Bull' who has over 14% stake in the private health insurer, as per its RHP, has made a profit of over ₹6,000 crore as the stock hit a high of ₹940 intraday.

His average cost of acquisition was at ₹156 per equity share, Star Health's prospectus further showed. Jhunjhunwala did not put up any shares for sale in the IPO.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Jim Kenney - Founder of Philly Fighting COVID agrees to destroy personal health data collected during clinic debacle - fox29.com - state Pennsylvania
fox29.com
90%
934
Founder of Philly Fighting COVID agrees to destroy personal health data collected during clinic debacle
Andrei Doroshin PHILADELPHIA - A graduate student in psychology whose COVID-19 vaccine operation got shut down by Philadelphia last year has settled with the state attorney general's office and agreed to destroy all personal health information his start-up gathered.The agreement was filed Friday in Commonwealth Court and requires a judge's approval to take effect.Central to the accusations against Andrei Doroshin, who had almost no public health experience when the city gave him the task, was that he had intended to profit from the vaccine operation run by his start-up, called Philly Fighting COVID.Mayor Jim Kenney says Philly Fighting COVID was a mistake after the Inspector General found no malice, no ill-intent, and no one seeking personal gain.Doroshin denied the allegations by the attorney general's office, including violating the state's nonprofit corporation law.Under the agreement, Doroshin and his associates are barred from managing charitable assets or soliciting charitable donations in Pennsylvania for 10 years.Doroshin also must destroy the personal health information gathered through the vaccine pre-registration service and is barred from receiving any financial benefit from the information or the vaccine.Doroshin must also dissolve Philly Fighting COVID.City officials said they gave him the job because he and his friends had organized one of the community groups that set up COVID-19 testing sites throughout the city in 2020.But they shut the vaccine operation down once they learned that Doroshin had switched his privacy notice to potentially sell patient data.
DMCA