The IPO of Star Health and Allied Insurance Company will open for subscription on November 30 and close on December 2. The company has set the price band of Rs.870-900 per share for the IPO, through which it aims to raise Rs.7,249 crore.
Reportedly, the upper price band would value the country's largest standalone health insurer at around Rs.51,000 crore, or $7 billion.
Retail investors can bid for a minimum of 16 equity shares and in multiples of 16 shares thereafter.
This is the second IPO in the insurance space in recent months. Earlier in November, Policybazaar's parent company PB Fintech raised Rs.5,625 crore through IPO.
Medi Assist Healthcare Service, a third-party administrator, has also filed papers for an IPO.
