Star Health Insurance IPO

Star Health and Allied Insurance Co. Ltd. is the country’s first standalone insurance provider. The company extends health, overseas travel and personal accident insurance policies. This insurance provider has been proactively catering to insurance policy requirements of families, individuals and corporations since 2006. Star Health Insurance has a longstanding relationship with multiple banks across India. It operates directly and also through a well-connected network of third-party agents and online channels.

Star Health Insurance IPO Objectives

- To augment its capital base
- To address general corporate purposes

Star Health Insurance IPO - Details

Star Health IPO comprises fresh issue worth Rs. 2,000 crores and offer for sale of 58,324,225 shares from its shareholders and promoters.

75% of this share IPO will be reserved for qualified institutional buyers. Similarly, 15% of shares will be reserved for the non-institutional bidders, and 10% of shares will be allocated to retail investors.

Opening Date

30 Nov 2021

Closing Date

2 Dec 2021

Price Band

₹870 to ₹900

per equity share

Issue Size

₹ 7,249.18 Cr

Face Value

₹ 10

per equity share

Market Lot

16 Shares

Opening Date

30 Nov 2021

Closing Date

2 Dec 2021

Price Band

₹870 to ₹900

per equity share

Issue Size

₹870 to ₹900

Face Value

₹ 10

per equity share

Market Lot

16 Shares

Listing at NSE, BSE

Star Health Insurance IPO Important Dates

IPO Open Date 30 Nov 2021
IPO Close Date 2 Dec 2021
Basis Of Allotment Date 7 Dec 2021
Initiation Of Refunds 8 Dec 2021
Credit Of Shares To
Demat ACcount
9 Dec 2021
IPO Listing Date 10 Dec 2021
Note: We will update the information here as soon as Star Health Insurance announces the IPO timeline.

Star Health Insurance IPO Latest News and Subscription Status Today [Live]

Day 3 : 2nd December 2021
Day 2 : 1st December 2021
Day 1 : 30th November 2021

At 10.40:00 AM.

- This IPO has been subscribed 0.22x by 10:40 AM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 0.07x

- (RII) Retail Individual buyers: 0.94x

- Employees: 0.06x

 

At 11.40:00 AM.

- This IPO has been subscribed 0.23x by 11:40 AM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 0.09x

- (RII) Retail Individual buyers: 0.96x

- Employees: 0.06x

 

At 12.40:00 PM.

- This IPO has been subscribed 0.35x by 12:40 PM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.28x

- (NII) Non-institutional buyers: 0.10x

- (RII) Retail Individual buyers: 0.98x

- Employees: 0.06x

 

At 1.40:00 PM.

- This IPO has been subscribed 0.38x by 1:40 PM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.32x

- (NII) Non-institutional buyers: 0.12x

- (RII) Retail Individual buyers: 1.02x

- Employees: 0.07x

 

At 3.10:00 PM.

- This IPO has been subscribed 0.69x by 3:10 PM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.86x

- (NII) Non-institutional buyers: 0.16x

- (RII) Retail Individual buyers: 1.07x

- Employees: 0.07x

 

At 4.10:00 PM.

- This IPO has been subscribed 0.79x by 4:10 PM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 1.03x

- (NII) Non-institutional buyers: 0.18x

- (RII) Retail Individual buyers: 1.08x

- Employees: 0.08x

 

At 5.10:00 PM.

- This IPO has been subscribed 0.79x by 5:10 PM. on Day 3

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 1.03x

- (NII) Non-institutional buyers: 0.19x

- (RII) Retail Individual buyers: 1.09x

- Employees: 0.10x

At 10.40:00 AM.

- This IPO has been subscribed 0.13x by 10:40 AM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.71x

- Employees: 0.03x

 

At 11.40:00 AM.

- This IPO has been subscribed 0.14x by 11:40 AM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.74x

- Employees: 0.03x

 

At 1.10:00 PM.

- This IPO has been subscribed 0.14x by 1:10 PM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 0.78x

- Employees: 0.03x

 

At 2.10:00 PM.

- This IPO has been subscribed 0.14x by 2:10 PM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 0.79x

- Employees: 0.03x

 

At 3.10:00 PM.

- This IPO has been subscribed 0.14x by 3:10 PM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 0.83x

- Employees: 0.04x

 

At 4.30:00 PM.

- This IPO has been subscribed 0.20x by 4:30 PM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 0.88x

- Employees: 0.05x

 

At 5.10:00 PM.

- This IPO has been subscribed 0.20x by 5:10 PM. on Day 2

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.07x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 0.89x

- Employees: 0.05x

At 10.40:00 AM.

- This IPO has been subscribed 0.05x by 10:40 AM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.00x

- (RII) Retail Individual buyers: 0.28x

- Employees: 0.00x



At 11.40:00 AM.

- This IPO has been subscribed 0.07x by 11:40 AM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.00x

- (RII) Retail Individual buyers: 0.39x

- Employees: 0.00x



At 12.40:00 PM.

- This IPO has been subscribed 0.08x by 12:40 PM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.00x

- (RII) Retail Individual buyers: 0.44x

- Employees: 0.00x

 

At 1.40:00 PM.

- This IPO has been subscribed 0.08x by 1:40 PM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.00x

- (RII) Retail Individual buyers: 0.47x

- Employees: 0.00x



At 2.40:00 PM.

- This IPO has been subscribed 0.10x by 2:40 PM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.53x

- Employees: 0.01x



At 3.40:00 PM.

- This IPO has been subscribed 0.10x by 3:40 PM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.57x

- Employees: 0.01x



At 5.05:00 PM.

- This IPO has been subscribed 0.12x by 5:05 PM. on Day 1

- It is a public issue of 4,49,08,947 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.64x

- Employees: 0.02x

Why should you invest in Star Health Insurance?

Here are a few reasons to subscribe to Star Health Insurance IPO –

- Star Health Insurance is a trusted name in the insurance segment. Its brand image and prominent presence continue to help it expand its market shares.
- This insurer has several upsides in terms of growth and revenue generation. Its diverse product offerings, coupled with the surge in demand for health insurance policies, serve as catalysts for future growth.
-The company has a strong financial standing that could only improve from this point. This offers upsides to investors in regards to steady and substantial revenue generation.

Regardless, a detailed SWOT analysis is important to ensure a fruitful investment. Investors should be cautious about the same and plan their IPO subscription accordingly.

Financial highlights

Financial Year Total Revenue (Rs. in thousands) Total Assets (Rs. in thousands) Profit After Tax (Rs. in thousands)
31 March 2020 Rs. 4543788 Rs. 21568866 Rs. 1834174
31 March 2019 Rs. 3095520 Rs. 17432520 Rs. 2633049

How to apply for Star Health Insurance IPO?

You can apply for the Star Health Insurance IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Star Health Insurance IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for Star Health Insurance IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

Star Health Insurance – Noteworthy Highlights

Star Health Insurance occupied 52% of the market share in the health insurance segment in October 2020, making it one of the leaders in the space. In addition, this upcoming IPO makes Star Health the first pure-play and 4th insurance provider in the private sector to get listed on stock exchanges.

Some of the most prominent highlights of Star Health Insurance include :

- The company occupies 30% market share in the retail health insurance sector.

- It has an active network of over 9500 hospitals.

- Star Health Insurance has over 12800 employees.

- It has a robust network of 640 branch offices across India.

- Between the period of April 2020 and November 2020, the company sold nearly 43 lakh insurance policies.

Star Health Insurance IPO - SWOT Analysis

strengths

Strengths

  • Product variation: Star Health Insurance has a vast portfolio of products and services. The insurer offers health insurance policies, travel insurance covers and accident insurance policies. The variation in offering allows this insurer to capture a larger market share and cater to a diverse range of target customers.
  • Business growth: In the last couple of years, individuals are keener on getting insured. With a solid reputation in the insurance market segment and quality offerings, Star Health Insurance is in a better position to divert the current insurance trends in its favour.
Weaknesses

Weaknesses

  • Common offerings: Star Health Insurance offers coverage plans and policies that are not exactly unique. The common features, similar nature of offerings and stagnant innovation could weaken the company’s long-term prospects.
Opportunities

Opportunities

  • Awareness about financial planning: As more individuals become financially aware and want to account for financial liabilities independently, the demand for insurance policies is rising. By tapping into this demand and the growing awareness about the importance of health insurance, this company can expand its market presence.
  • Growth prospects: Strong financials and a greater market share can prove useful in the long-term if the company decides to expand its service offerings and area of expertise further.
Threats

Threats

  • Competition: Almost all insurance companies offer similar products and services. This means substitute products and offerings are readily available to potential customers. The rising competition in the market increases the fear of losing potential and existing customers to companies that cater to niche areas.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Product variation: Star Health Insurance has a vast portfolio of products and services. The insurer offers health insurance policies, travel insurance covers and accident insurance policies. The variation in offering allows this insurer to capture a larger market share and cater to a diverse range of target customers.
  • Business growth: In the last couple of years, individuals are keener on getting insured. With a solid reputation in the insurance market segment and quality offerings, Star Health Insurance is in a better position to divert the current insurance trends in its favour.

Weaknesses 

  • Common offerings: Star Health Insurance offers coverage plans and policies that are not exactly unique. The common features, similar nature of offerings and stagnant innovation could weaken the company’s long-term prospects.

Opportunities 

  • Awareness about financial planning: As more individuals become financially aware and want to account for financial liabilities independently, the demand for insurance policies is rising. By tapping into this demand and the growing awareness about the importance of health insurance, this company can expand its market presence.
  • Growth prospects: Strong financials and a greater market share can prove useful in the long-term if the company decides to expand its service offerings and area of expertise further.

Threats 

  • Competition: Almost all insurance companies offer similar products and services. This means substitute products and offerings are readily available to potential customers. The rising competition in the market increases the fear of losing potential and existing customers to companies that cater to niche areas.

Competitor Analysis: Market Peers

Star Health Insurance company is a market leader in the insurance space. Regardless, the company has more than one market peer with a strong market presence. Here are a few of such market peers.

Market Peers Revenue  
HDFC ERGO $1.1B
Royal Sundaram General Insurance $487.4M
MAX Bupa Health Insurance $168.6M
Apollo Munich $2.3M
Cigna Health Insurance $2M
Religare Health Insurance $4.7M
Trusted Tablets $1.2M

Star Health Insurance IPO FAQs

What is Star Health Insurance IPO?

Star Health Insurance IPO will comprise fresh share issue and new offer share issue. The company aims to go public to accelerate its growth and expansion plan.

When will Star Health Insurance IPO be open for subscription?

The company will open for subscription on 30 November 2021.

What is the minimum lot size that investors can subscribe to?

The minimum lot size that investors can subscribe to is 16 shares.

When is the Star Health Insurance IPO listing date?

The Star Health Insurance IPO listing date is 10 December 2021.

How will I receive shares?

You will receive the Star Health Insurance shares in your DEMAT account once the allotment process is completed.

What is the minimum order quantity for Star Health Insurance IPO?

The minimum lot size for this upcoming IPO is 16 shares.

Who is the registrar for Star Health Insurance IPO?

KFin Technologies will be the registrar for this upcoming IPO.

Who are the legal advisors of Star Health Insurance IPO?

Trilegal and Cyril Amarchand Mangaldas are the legal advisors for this upcoming IPO.

Who are the promoters of Star Health Insurance?

The promoters of Star Health Insurance include Mio Star, Konark Trust, Apis Growth 6 Ltd, MMPL Trust and Safecrop Investments India.

Who is the lead manager of Star Health Insurance IPO?

The lead managers of Star Health Insurance include Credit Suisse Securities India, BofA Securities India, ICICI Securities, IIFL Securities, Axis Capital, CLSA India Pvt. Ltd, Citigroup Global markets India, Jefferies India Pvt. Ltd, SBI Capital Markets, DAM Capital Advisors, Ambit Pvt. Ltd, and Kotak Investment Banking.

Who are the investors of Star Health Insurance?

Westbridge Capital, Rakesh Jhunjhunwala and Madison Capital are among its private equity investors.

Which investor categories are allowed to participate in Star Health Insurance IPO?

Qualified institutional buyers, non-institutional bidders and retail individual investors are allowed to participate in Star Health Insurance IPO.

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