₹870-900 a share for its initial public offering (IPO) and at the upper end of the price band, the initial share sale is expected to fetch ₹7,249 crore.
Star Health's IPO comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders.
As per market observers, Star Health shares premium (GMP) have fallen further to ₹10 in the grey market today. The company plans to list on leading stock exchanges BSE and NSE on December 10.
Proceeds from the fresh issue would be used to augment the company's capital base. Star Health, leading private health insurer in the country, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.