MUMBAI : The initial public offering of Star Health & Allied Insurance Co Ltd will cut its offer for sale (sale of shares by existing investors) size, as it failed to attract sufficient demand from investors, two people aware of the matter said.

Earlier, the IPO extended timing for individual investors till 7pm after receiving bids for only 80% of shares on offer at 5pm, excluding the anchor allotment. “The cut in the OFS will depend on the final subscription numbers after adjusting for technical rejections of bids," said one of the people cited above.

The health insurer IPO consists of a fresh issue of ₹2000 crore and an offer for sale of upto 58.32 million shares by its existing promoters and shareholders.

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MUMBAI :

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Star Health to cut OFS size amid weak demand for IPO

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