₹4,400 crore from ₹5,249 crore after its initial public offering got a tepid response. Star Health initial public offering failed to get fully subscribed by the close of bidding.
The IPO of the country's largest private health insurance firm was subscribed just 79%. Backed by billionaire stock investor Rakesh Jhunjhunwala, the company had priced its IPO between ₹870-900 per share.
The IPO will now consist of a fresh issue of ₹2,000 crore and an OFS of up to 48.89 million shares instead of 58.32 million shares planned earlier by its existing promoters and shareholders.
Safecrop Investments India LLP will now sell 29.85 million shares and not 30.68 million shares earlier planned. As per market observers, Star Health shares were quoting at