Rakesh Jhunjhunwala-promoted Star Health IPO subscribed 12% on debut

The company intends to collect Rs 7,249.18 crore through its public issue during Nov. 30-Dec. 2. The offer comprises a fresh issue of INR 2,000 crore and an offer-for-sale of shares worth INR 5,249.18 crore.

Rakesh Jhunjhunwala-promoted Star Health IPO subscribed 12% on debut
In frame — India business owner Rakesh Jhunjhunwala Photograph credits — CNBC TV18

On Nov. 30, the public issue of Rakesh Jhunjhunwala-promoted Star Health and Allied Insurance Company was subscribed 12 percent on debut. It has received bids for INR 53.19 lakh equity shares against an IPO size of INR 4.49 crore.

Retail investors have put in a bid for 64% of their reserved portion, while the portion set aside for employees was subscribed for 30,672 shares.