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Star Health files DRHP to raise funds via IPO

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NEW DELHI : Health insurer Star Health and Allied Insurance Co. Ltd, owned by a consortium of investors, including Rakesh Jhunjhunwala and Westbridge Capital, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise funds via an initial public offering (IPO).

The IPO consisted of a fresh issue of ₹2,000 crore and an offer for sale (OFS) of 60.10 million shares by existing promoters and shareholders.

An OFS comprises a sale of up to 30.68 million shares by Safecrop Investments India LLP, up to 138,000 shares by Konark Trust, up to 9,528 shares by MMPL Trust, up to 7.68 million shares by Apis Growth 6 Ltd, up to 4.11 million shares by Mio IV Star, up to 7.44 million shares by University of

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