MUMBAI : Standalone health insurance provider Star Health & Allied Insurance Co. Ltd, which is majority owned by Westbridge Capital and Rakesh Jhunjunwala’s Rare Enterprises, is eyeing a valuation of around Rs50,000 crore for its upcoming IPO, which opens on 30 November.
The IPO valuation is a significant jump from its valuation in 2018, when the Westbridge and Jhunjunwala consortium acquired a 90% stake in the company for around Rs6,000 crore.
Founded in 2006 as India’s first standalone health insurance provider, Star Health provides health, personal accident and overseas travel insurance.
The insurer's management believes that incoming new investors will find the valuation very comfortable given the company’s growth prospects, its